Fernando Barciela |At first sight, Telefonica’s third quarter and nine months to September results couldn’t be better. Between January and September, the company posted a 12% rise in consolidated revenues to 35.4 billion euros. Net income increased by a spectacular 69.6% to 46 billion euros in the same period.
Fernando Barciela | Passos Coelho won the elections in Portugal with 38.6% of the vote, but lost his majority in parliament. Even though he has been tasked with forming a new government, Portuguese left parties have adopted a pragmatic approach which makes an agreement between the Socialist Party, Communist Party and Bloco de Esquerda increasingly likely. For the time being, they have already appointed Eduardo Ferro Rodrigues, a socialist, as the President of the parliament.
Last week the Spanish banking sector began its third quarter results presentations, but analysts are going one step further and are already looking for indications ahead of 2016. The outlook is not wholly favourable if we take into account the factors affecting it on the downside.
Spain’s biggest bank released its 2Q2015 results on Thursday, showing a 24% rise in net attributable profit to EUR 3.426 billion in the first half from a year earlier. All of Santander’s ten core markets posted an increase in profits, with the three largest, Spain, the United Kingdom and Brazil, registering particularly significant rises.
MADRID | The Corner | February 25, 2015 | Spanish telecom giant Telefonica reported a drop of 34.7% in net profit, although investors celebrated revenue picture brightening up. Elsewhere, the Spanish Producer Price Index falls again, registering a drop of 2.8% for January.
MADRID | By Julia Pastor | Words from the energy firm’ s president Ignacio Sánchez Galán saying before international investors that “they were more British, US and Mexican that Spanish” to explain each corporate bussiness’ importance on the company’s balancesheet has been a kind of hurt. Furthermore, Iberdrola announced a cut of investments in Spain: of an overall €9,600bn, only €1.5 which means 15%, will come to the country and be limited to maintenance operations, while the UK will be the major destination with 41% of investments. Against the background of the controversial energy reform having place, the debate between Spanish government and energy industry is getting hotter.
MADRID | Net income during the first quarter of 2013 rose 1.6% to 631 million euros. These earnings, at current cost of supply, are especially significant as the year-earlier quarter included earnings from YPF.
MADRID | Supermarket chains serve a few of our basic needs and so the sector is faring better than other industries against the fierce crisis that is lacerating the European economy day in, day out. The same goes for Spain. Distribuidora Internacional de Alimentación DIA, the distribution chain, said Thursday that its sales in Spain had grown by 6 percent during the first half of the year. DIA reported today…
BARCELONA | CaixaBank reported Friday a poor attributed January to March net income of €166 million as a result of provisions enforced by the Spanish government, set to clean up the balance sheets of the country’s banking sector. For the Catalan entity, the figure means an 80.1-percent cut down comparing to the first quarter of 2011 and bears the scars of large write-downs of €3.735 billion. CaixaB ank said that, as…
MADRID | Banco Santander announced Thursday a net attributable profit of €1.704 billion in the first half of the year. The figure brings a cut down of about 51% compared with the same period in 2011. The Spanish bank pointed out that the decline is a result of setting aside €1.304 billion for provisions for real estate exposure in Spain of the second quarter ordinary profit of €1.404 billion. As a…