Renta 4 | According to press reports, Repsol is preparing a new leap in its diversification process, with the entry into the data centre business with a project of just over 400 MW. The plan is to be developed in Escatrón, Zaragoza, where it will take advantage of the land, electrical installations and water supply it currently has in the area, which now houses a combined cycle power plant it…
The Saudi group STC is now the owner of 9.97% of Telefónica’s share capital and will engage in discussions with the operator to obtain a seat on the Board of Directors, according to a communication sent by its investment vehicle Luxco to the U.S. Securities and Exchange Commission (SEC). The STC group, which previously held 4.9% of Telefónica directly, received authorization from the Spanish government last November to control up…
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…
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…
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,…
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…
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…
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…
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…
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…