On the left, Pedro Sánchez promises “93,000 affordable homes for young people and families” at a rally in Toledo on 21 April. On the right, at a rally in A Coruña, a week later, on 28 April, he was already promising 183,000 homes at affordable prices for… And with weeks of election campaigning left.
Fernando González Urbaneja| The government has not shied away from criticising employers for their labour management and for allegedly poor relations with unions and workers. They say that the beam in your own eye is less obvious than the speck in someone else’s. On labour relations, the government has little to boast of; its performance is abysmal, and the consequences for the customers of public services and for citizens are…
According to the National Institute of Statistics, the average increase in the gross profit of Spanish companies was 15% in 2022, with Ibex companies’ profits growing by 35%. According to Antoni Cañete, president of Pimec, the employers’ association of small and medium-sized Catalan companies, “it is clear that, if the Ibex earns 35% more and the average is 15%, there are others who have to earn much less… The extraordinary…
Banco Sabadell: The airport company has not received any bids for lot 1 (Madrid Airport) or lot 4 (airports in Catalonia) in the tender for the duty-free shop leasing contracts. These two lots represent 44% of the total RMGA’24 established as a basis for the tender (this could represent a total of around €190 million per year or 4% of AENA’s total revenues; at least 1% of the capitalisation). The…
The Council of Ministers has given Vivendi, Prisa’s second-largest stakeholder with a 9.94% holding, permission to convert all of its convertible subordinated debentures, increasing its ownership position in the company’s capital. The total amount of the issue was €130 million and the first conversion period started on 1 May and will end on the tenth. Vivendi’s conversion of the subscribed bonds will result, in the final scenario of a full…
Norbolsa| The energy company published yesterday its 1Q23 results, reaching a net profit of €594m (versus €560m consensus), registering a 76% growth compared to the same period last year. The group’s EBITDA increased by 60% to €1,460m (versus consensus of €1,420m), mainly driven by its conventional generation division (+78% year-on-year), which benefited from lower gas prices, as well as the normalisation of the marketing margin. The NTI increased to €11,600m…
Norbolsa : The company presented its 1Q23 results last Friday, achieving a 29% improvement in sales on 1Q22 and slightly above consensus expectations (+1% versus 1Q23 expected) (€952m versus €862m estimated), highlighting the increase in bus sales (+35% versus 1Q22), although margins continue to be weighed down by the Solaris units affected by the inflationary context. In this regard, the company notes a slight improvement in the bus supply chain,…
Fernando González Urbaneja | Employers and unions have reached an income policy agreement on their own which is coherent with the previous ones signed during the last decades. There is no break in the social pact policy that accompanied Spanish democracy for decades. The agreement (a salary increase of 4% in 2023 and 3% in 2024) is indicative, a recommendation for decentralized collective bargaining, thousands of sector, province, company agreements……
Public employment has grown in Spain by 22,842 people in the first quarter of the year, the largest increase in staff in the service of the Public Administration in this period since 2015, when regional and general elections were also held in Spain. According to the updated public employment data at the end of March published yesterday by the Ministry of Social Security, with this increase in staff the total…
Intermoney | According to data published by the manufacturers’ (Anfac), dealers’ (Faconauto) and sellers’ (Ganvam) associations, car sales in Spain maintained a positive performance in April, although the pace of growth moderated to +8.2% after the strong +45% growth accumulated in the first quarter. Nearly 75k vehicles were registered in April, bringing cumulative sales in the first four months of the year to over 312k units, an increase of +34%…