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Spanish economy 14th January 2025

Government could limit REITs regime: Merlin and Colonial to be little affected by focusing on malls and offices

Intermoney | The President of the Government, Pedro Sánchez, announced on Monday his intention to restrict the REITs regime except in the case that the companies promote housing at affordable rents. This measure is one of 12 that the president announced with the intention of tackling the current housing crisis. Specifically, Sánchez declared: “We are going to change the regime of tax advantages that the so-called REITs have. Why? So…

In Spain 14th January 2025

Amadeus to pay €0.50/share dividend on 17 January, 14% higher than same dividend in 2023

Banco Sabadell: Last December, the company’s Board of Directors approved the distribution of an interim dividend against 2024 results for a fixed gross amount of €0.50 per share, 14% higher than the same dividend in 2023, to be paid on 17 January 2025. After applying a 19% withholding tax, the net amount will be €0.405 per share. The dividend yield is 0.7%. Amadeus maintains a policy of remunerating its shareholders…

Spanish economy 13th January 2025

Spain: Labour costs rise by 18.5% more than gross salaries over five-year period due to increase in contributions

El Economista | An average salary of €26,555 gross per year is associated with an additional labour cost of €9,340 totaling €35,900 by the end of 2023. In 2018, before the surge in labour costs, a company paid €30,880 in labour charges for a gross payroll of €23,000. Thus, while the gross salary has increased by just over €3,500, total charges have risen by €5,900. In summary, companies today pay…

In Spain 13th January 2025

Attractive profitability/RoTE of Caixabank at high level (16.9%), with efficiency ratio at historically low levels (39.2% in 9M24)

Bankinter: We maintain Caixabank in our 5 Stocks Model Portfolio because it enjoys a good momentum in profitability/RoTE with an attractive shareholder remuneration plan. The factors that explain our strategic preference for the Catalan bank are: (1) Profitability/RoTE remains at a high level (16.9%), with a low risk profile and an efficiency ratio (costs/revenues) at historically low levels (39.2% in 9M 2024). (2) Credit quality ratios are good and the…

In Spain 11th January 2025

Amper invests in specialised defence fund Hyperion to reinforce 2023-2026 Strategic and Transformation Plan

Link Securities | The company announced on Thursday its investment in Hyperion, an investment fund specialising in defence, with which it is reinforcing its Strategic and Transformation Plan 2023-2026, focused on the growth of its Defence, Security and Communications business unit, and on positioning in its key markets, the digital portal Bolsamania.com reported yesterday. The Hyperion investment fund’s mission is to support the growth of key technology companies in the…

In Spain 10th January 2025

Iberia, part of IAG, carries all-time high of over 30.7 million passengers in 2024

Alphavalue / Divacons | The Iberia group, which includes Iberia Express and Iberia Regional Air Nostrum, reached an all-time record in 2024 by carrying 30,732,745 passengers. In detail, Iberia carried 18,677,812 passengers, Iberia Express 7,687,718 and Air Nostrum 4,367,215. These figures are due to the increase in demand for both business and leisure travel, as well as the good performance of all markets, especially Latin America and the new destinations…

In Spain 10th January 2025

S&P believes Spain will miss deficit target (2.5%) for this year if no additional measures taken

The American rating agency S&P stated this Thursday that the process of adjusting the public deficit in Spain could have been ‘faster’ in light of the good economic data collected and warned of the likely failure to meet the target set for this year, at 2.5% of GDP. According to the rating agency in its 2025 forecast presentation, the Spanish public sector remains heavily indebted and has relied its fiscal…

Spanish economy 9th January 2025

HBX Group working on IPO

Link Securities | HBX Group, a tourism company formerly known as Hotelbeds, dedicated to the sale of hotel rooms and flats to tour operators and travel agencies, is working on its IPO, according to Expansión newspaper. The structure will prioritise the capital increase tranche (for about €700 – 750 million) over the sale of securities (for up to €500 million euros) by its shareholders, Cinven and CPPIB, as they aim…

Naturgy will be able to undo the provisions for hyperinflation and devaluation of the peso

In Spain 9th January 2025

Naturgy leads alliance to develop 30 biogas plants in Spain

Naturgy announced on Thursday the signing of a strategic alliance with Hispania Silva, a company specialized in waste valorization with extensive experience in the agri-food sector, for the construction of a minimum of 20 biogas production plants, which could reach as many as 30. The plants that are part of this alliance, which will be distributed throughout Spain and will be operational before 2030, will have the capacity to generate…

In Spain 8th January 2025

Caixabank prepares to launch real estate portal to take advantage of good momentum in Spanish residential sector

Link Securities | Caixabank (CABK) is preparing the launch of a real estate portal to take advantage of the peak of sales and purchases and record prices that the residential sector is experiencing in all Spanish provinces, according to Expansión newspaper. It will be a similar website to www.idealista.com for buying and renting property (new and used) but only real estate companies registered on the portal will be able to…

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