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Spanish economy 25th January 2025

Telefónica completes elimination of Huawei technology from 5G core in Spain by awarding this to Nokia

Norbolsa | Telefónica España has awarded the second phase of the replacement of the core of its 5G network to the Finnish company Nokia. With this award, and after awarding another part to Ericsson in 2021, it has completed the elimination of Huawei technology from its 5G core. This change is part of a strategy of supplier diversification, as well as the withdrawal of Chinese technology. The core network is…

Spanish economy 24th January 2025

Ryanair calls on Aena to sell ‘failed’ regional airports

Link Securities | The cross accusations between Ryanair and Aena (AENA) continue, after the Irish airline took the decision to eliminate routes in Spain due to ‘excessive fees and the lack of effectiveness of incentive plans’ by the airport manager, as reported on Tuesday by Bolsamanía.com. Now, the airline is going one step further and is asking Aena to sell its regional airports. ‘Minister Puente has two options: he can…

In Spain 24th January 2025

Spain breaks new record by surpassing 100 million international air passenger arrivals

Link Securities | According to data published by Turespaña, in December 2024 the good trend of previous months continued, and passengers from international airports amounted to 7.2 million, 8.6% more than in December a year ago, Of the total of more than 100 million passengers, 86.1% came from Europe, followed by the Americas, with a share of 8.9%. Asia was the geographical area of origin with the highest year-on-year growth…

Spanish economy 23rd January 2025

Bankinter: 4Q24 First Take – Net income in line; Fees save quarter

Jefferies | Reported 4Q net income in line with consensus, helped by a low effective tax rate in the quarter (with the print an 11% miss at PBT level). This PBT miss was primarily driven by €34m in other impairments, with pre-prov a 2% beat. Revenues were a 2% beat vs consensus, however this was driven by strong fees (5% beat), with NII dynamics a touch soft, down 3% quarter-on-quarter,…

In Spain 23rd January 2025

Sánchez in the Labyrinth: Junts and PNV Reject Two of Three Laws that Government Brings to Congress

Junts (Puigdemont’s party) rejected yesterday in Congress the ‘omnibus’ decree that included the revaluation of pensions, the extension of transport discounts, and aid for those affected by the DANA. However, the measure also contained other types of initiatives that it would have been incomprehensible for the political right to support, such as the suspension of evictions during 2025, which facilitates squatting. The rejection highlights the parliamentary weakness of the Executive…

Spanish economy 23rd January 2025

Iberdrola chairman says dividend can grow every year and electricity demand will continue to rise

Bankinter | In an interview at the Davos Forum, the company’s chairman Ignacio Galán said that “it is perfectly possible to grow and pay a higher dividend every year”. He considers the commitment to the dividend and the profitability of the 350,000 small investors who are Iberdrola shareholders to be a priority for the group. Galán anticipates that the demand for electricity will grow in the coming years as growth…

In Spain 22nd January 2025

Banco Sabadell to establish HQ in Catalonia once again

Amid the BBVA’s takeover bid for Banco Sabadell, the bank has decided to leave its current headquarters in Alicante—where it moved on October 5, 2017, at the beginning of the Catalan independence process—to return to Catalonia, to Sabadell. This decision is pending ratification by the Board of Directors. According to analysts, returning to Catalonia will allow Banco Sabadell to gather political and social support to hinder the ‘assault’ by the…

In Spain 22nd January 2025

Telefónica could take control of Indra technology subsidiary, Minsait, to create national telecoms and technology champion

Link Securities | The government, with the appointment of Marc Murtra as executive chairman of Telefónica, plans for the operator to take control of all or part of Indra’s technology subsidiary, Minsait, according to information from El Periodico reported by Bolsamania.com. With this major corporate move, the executive aims to create a national telecommunications and technology champion. At the same time, it would also enable Indra to gain weight in…

In Spain 21st January 2025

Energy sector: Congress to overturn extension of energy tax due to PNV’s vote against

According to press reports, the Congress will overturn this Wednesday the energy tax by the vote against it by the PNV, who would not have negotiated with the Treasury. Likewise, Junts would also be against the measure and Podemos considers that the PSOE would have failed to fulfil its commitments. Thus, the royal decree-law approved at the end of December that extended the tax burden to the sector which included…

Spanish economy 21st January 2025

Spanish exports fall 6.4% in November

Luis Alcaide | Spanish merchandise exports did not perform well last November, falling by 6.4% year-on-year in euros. This is compared to a decline of 4.1% in the eurozone, 2.7% in Italy, and 5.1% in France. Imports also recorded a decrease of 3.7% compared to November 2023. The export-import coverage rate stands at 86.4%, one of the lowest levels in the last decade for the month of November. The year-on-year…

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