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Spanish economy 7th February 2025

Spain: Bankruptcy proceedings rise by 34% in January

Spain recorded a total of 855 bankruptcy proceedings and 4,533 dissolutions in the first month of the year, representing an increase of 34% and 3%, respectively, according to data published this Thursday by Informa D&B. It is the smaller companies, specifically microenterprises, that account for the majority of the bankruptcies initiated in January, at 81%. Small enterprises make up nearly 17%, medium-sized enterprises account for 2%, and only one large…

Spanish economy 6th February 2025

41.01% of ACS holders decide to receive flexible dividend of €0.454/share in cash

Link Securities headquarters| In relation to the second execution of the bonus share issue approved by the General Shareholders’ Meeting of ACS (ACS) on May 10, 2024 to implement an optional dividend system, the company announces the following: The irrevocable commitment to purchase rights assumed by ACS has been accepted by holders of 41.01% of the free allocation rights, which has determined the acquisition by ACS of 111,416,240 rights for…

Spanish economy 31st January 2025

Sacyr proposes appointment of Pedro Sigüenza as director and separates functions of CEO and Chairman

Intermoney headquarters| The Board of Directors of Sacyr (Buy, PO 4.4 €) agreed yesterday after the market close to propose to the next shareholders’ meeting the appointment of Pedro Sigüenza as a director of the company with executive qualification in the functions of development and management of the business lines. The approval, if it happens, of this proposal by the General Shareholders’ Meeting will allow Sigüenza to be appointed CEO…

Spanish economy 31st January 2025

Repsol approves €800 million investment in Tarragona Ecoplanta, first in Europe to manufacture renewable and circular methanol from waste

Link Securities | Repsol’s Board of Directors on Wednesday gave the green light for investment in the Ecoplanta, a pioneering project in Europe to transform urban waste into renewable fuels and circular products, becoming a solution for reducing CO2 emissions in transport, while at the same time promoting the circular economy. The facility, which will be located in Tarragona and in which more than 800 million euros is expected to…

Spanish economy 30th January 2025

Caixabank’s profit rises to €1,539 million in 4Q24 due to lower provisions and extraordinary impact of sale of JV with Global Partners and Erste

Renta 4 | The results for Q4 2024 have shown a net interest margin slightly above expectations (+1% versus r4 estimated and consensus), and income from services -1% versus R4 estimated and +4% versus consensus. Gross margin was in line with R4 estimated and 2% higher than expected by the consensus. Net profit was 4% higher than R4e and 9% higher than the consensus, mainly due to lower provisions and…

Spanish economy 30th January 2025

BBVA beats expectations with €2,433 million profit in Q4 2024 (+18%) thanks to good business momentum in Spain and €993-million share buyback plan

Bankinter | The bank beats expectations with a net attributable profit of €2,433 million in Q4 2024 (up 18.0% against €2,243 million estimated) thanks to the good momentum of the business in Spain and improves shareholder remuneration with a €993 million share buyback plan. Key figures for 2024 compared to the consensus forecast (Bloomberg): Net interest income: €25,267 million (up 9.0% versus €24,780 million estimated); Gross income: €34,481 million (+20.0%…

Spanish economy 30th January 2025

Merlin Properties, one of DeepSeek’s victims in Spain owing to exposure to AI data centre deployment

Alphavalue/ Divacons | The real estate developer’s shares fell 4.68% yesterday due to its exposure to the development of data centres for AI. Today it closed the market with a value of €5,851 million. Banco Santander, the REIT’s main shareholder with 22%, lost €63 million. Merlin Properties increased capital by €920 million in July last year to undertake its investments in platforms that host data centres, a line of business…

Spanish economy 28th January 2025

Spain: 21,857,900 million employed… but over 831,000 “fixed discontinuous” employees not working and seeking work

According to data from the Active Population Survey (EPA) published this Tuesday by the National Institute of Statistics (INE), unemployment decreased by 265,300 people in 2024, which represents a 9.3% decrease compared to 2023, while employment grew by 468,100 jobs (3.8%), closing the year with a new record of 21,857,900 employed and a number of unemployed lower than 2.6 million. It is true that this figure does not include the…

Spanish economy 28th January 2025

Repsol plans to enter data centre business with project worth around €4,000 million and 400+ MW

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…

Spanish economy 27th January 2025

STC now controls 9.97% of Telefónica and requests a seat on its Board of Directors

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…

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