The Group’s revenues rose by 4% during the 9M ’25 period to exceed €6,911 million. Construction, which contributes over 80% of this variable, moderated its growth to 3%, implying a 5% in the standalone Q3, despite a more demanding base effect in 2024 following the recovery of Budimex in Q2 at that time, as well as the weakening of the dollar last quarter (down 6%) EBITDA increased by 2% to…
Norbolsa | The company posted a net profit of €1.668 billion (+6% year-on-year) and EBITDA of €4.214 billion in 9M25, in line with record levels and with the target of exceeding €2 billion at year-end. The company maintains a solid financial profile (DN/EBITDA <2.5x) and a minimum total dividend of €1.70/share within the 2025–27 plan. Among the most notable milestones of the period, the free float increased to 18.8% from…
Santander posts record nine-month results, with earnings per share up 16% and growing seven million customers to 178 million. Revenue was stable (€46.3 billion), with the bank achieving record net fee income (up 4% year-on-year). Operating expenses fell by 1%. As a result, the efficiency ratio improved to 41.3%. Loan-loss provisions fell 1% with improved cost of risk at 1.13% (-5 basis points). Non-performing loan ratio of 2.92%, improving 14…
Bankinter | Beats earnings and revises full-year guidance upward. The networks division drives growth for the group. Key figures compared to consensus: Adjusted EBITDA (x capital gains from asset sales and provisions) €12.438 billion (up 7.7%) versus €12.117 billion estimated., Adjusted BNA: €5.116 billion (up 16.6%) versus €4.932 billion estimated. Revises upward its guidance for the year, from high single-digit net profit growth to double-digit growth, exceeding €6.6 billion. Bankinter…
The Ibex 35, the Spanish stock market’s benchmark index, closed yesterday’s session at 16,000.2 points, following a 0.87% rise during the day, which marks a new historical maximum. So far this year, the Ibex 35 has risen by more than 37%, largely driven by the strong performance of banks, which account for 36% of the index. The Ibex thus manages to surpass its previous all-time stock market high (15,945 points)…
In August, Spanish exports fell by 9.3% year-on-year to €24.4 billion, the lowest figure in four years. Sales abroad were primarily dragged down by the reduction in shipments of energy products (-29.3%); automotive products (-21.8%); non-chemical semi-manufactures (-14.7%); and raw materials (-15.3%). Among key partners, exports decreased to the European Union (EU; -11.3%), the US (-30.5%), and China (-19.9%), but increased to the United Kingdom (+4.5%). Meanwhile, imports fell by…
The Spanish Association of Automobile and Truck Manufacturers (Anfac) reports that vehicle production in Spain grew by 8.8% year-on-year in September, reaching 223,468 units. This specific increase is due to the low production recorded in September 2024, caused by the adaptation of some factory production lines to accommodate new electric models, which led to production falling below usual levels that month. In the accumulated figure through September (9M2025), vehicle production…
Alphavalue/ Divacons | Real estate investment in Spain reached €12.9 billion in September, 44% above the figure recorded in the same period last year, making it the third best historical record, behind only 2022 and 2018. This figure is above the European average, and the sector expects an even more intense end to the year in terms of investment. On the other hand, 37% of rental properties in Spain are…
Red Eléctrica, the Spanish electrical system’s technical operator, states that it has observed “sharp voltage variations in the Spanish peninsular electrical system over the last two weeks, such that they could impact the security of supply if the proposed changes are not implemented.” These operational changes have been requested from the National Commission for Markets and Competition (CNMC), which quickly approved them. Red Eléctrica contacted the CNMC on Tuesday with…
Link Securities | The National Statistics Institute (INE) reported that industrial production, adjusted for seasonal and calendar effects, fell by 0.1% in Spain in August compared to July, when it had fallen by 0.4%. By sector of activity, the production of capital goods (up 2.6%) was the only one to show a positive monthly rate. In contrast, the production of intermediate goods (down 1.5%) fell the most during the month….