Intermoney | Results 9M 2022e on 7 November – EBITDA +26%, still reflecting the impact of costs in construction. Sacyr will announce its results on Monday 7 November before the market opening, with a conference call at 1300. We expect the company will have continued with the growth seen in past quarters. However, this will have relaxed vs H1’22 due to the impact of the rise in costs and more demanding…
The Corner|Consumer prices rose 7.3% in October from a year earlier, slower than the 8.9% increase in September, according to preliminary data from the National Statistics Institute (INE) on Friday. This is the lowest reading since January, when the CPI rate stood at 6.1%. A fall in electricity prices compared to the same period last year and more moderate gas prices were factors behind the slowdown in October, INE said….
The Corner | Caixabank posted an 18.8% rise in third quarter net attributable profit, beating consensus forecasts, and driven by a strong rise in revenues, including commissions. Net interest income was up 5% quarter-on-quarter at 1.687 billion euros. Morgan Stanley analysts noted that despite a slight uptick in costs, operating profit before provisions (Ppop) beat estimates by 8%, underpinned by a 25% drop in provisions, which was below expectations. “Overall, Álvaro…
The Corner | BBVA said net attributable profit rose 46% to 4.842 billion euros in the nine months to September from a year earlier, boosted by a strong performance in its main market Mexico. Group net interest income rose 29% to 13.811 billion euros year-on-year, while costs increased by 12.8%, as the hike in interest rates offset inflation. In Mexico, net attributable profit rose 47.5% in the nine-month period to 2.964…
Bankinter | Acerinox has reported net profit of 741 million euros in the nine months to September, 99% higher than a year earlier. However, in the third quarter net profit dropped 22% to 133 million euros, due to a slowdown in activity in this period. The main figures compared with the company’s consensus for Q3’22: Revenues 2.175 billion euros (+28% yr/yr) vs 2.314 billion estimated; EBITDA 241 million euros (-18%…
Net income from January to September was €3.222 billion. The recovery in the first half of the year is allowing Repsol to partially offset the losses in 2019 and 2020 of more than €7.1 billion due to asset adjustments linked to the zero net emissions ambition and the global health pandemic. Adjusted net income amounted to €4.564 billion, of which close to 60% came from the company’s international businesses, whose…
Unemployment rose by 60,800 people between July and September, which is almost 2.1% more than in the previous quarter, while employment increased by 77,700 jobs (+0.4%), bringing the total number of employed to over 20.5 million people, according to data from the Labour Force Survey (EPA) released by the National Statistics Institute (INE). At the end of September, the total number of unemployed stood at 2,980,200 people and the number…
Earnings per share increased by 31% year-on-year, supported by strong profitability (RoTE of 13.6%). TNAV plus cash dividend per share increased by 11% while capital remains above 12% In the third quarter alone, attributable profit was €2,422, up 11% year-on-year (+2% in constant euros). The group has seen strong growth in customer activity in the first nine months of 2022, with loans and deposits growing by 7% and 6% respectively…
Bankinter | Cellnex has sold 1.100 telecommunication towers in the UK to Wireless Infrastructure Group (WIG) for 170 million euros. The EBITDA generated by the afore-mentioned towers would be around 8 million euros. So the sale price represents 21x EBITDA. Bankinter’s analyst team view: Good news for Cellnex. This sale is not for strategic or economic reasons. It was the commitment agreed with the UK regulator in order to approve…
The President of the Government, Pedro Sánchez, has announced the launch of a second call of the PERTE for the development of the electric and connected vehicle (EV) after the failure of the first call, where only 877.2 million euros out of a total of 2.975 billion euros have been allocated. Even so, the final figure is higher than the provisional resolution, where 600 million euros were earmarked. Initially it…