catalan companies

Furthermore the Catalan multinational announced it was expanding its shares within the MedGaz pipeline to 14.9%, which is one of the five pipelines that transport Northern African gas to Europe. The natural gas company reported that its profit levels for the first half of this year have increased by 1.7% from 2012 to €780 million. The Catalan multinational company highlighted how this increase was the result of the international growth of the industry which counteracted the relative stagnation in the domestic market. Gas Natural Fenosa’s EBITDA was also up on last year and totalled €2.63 billion, representing an increase of 2.9% compared to the same period last year.

The Catalan bank, which is the highest financial entity within the Spanish market, obtained a net profit of €408 million between January and June. This figure is 2.45 times higher than that of last year for the same period thanks to the integration of Banca Cívica and Banc de València. The bank which is owned by La Caixa and chaired by Isidre Fainé increased its reserves to €5.38 billion, a rise of 44% on last year. In the presentation of the results, CaixaBank’s CEO, Joan Maria Nin, confirmed the Catalan banking giant will “have a look” at the conditions of the auctions of Catalunya Banc and Nova Caixa Galicia. Nin also recognised that the funding system for SMEs in Spain can be significantly “improved”.

For the first 6 months of 2013 the Catalan company Abertis has made a profit of €293, a 62% reduction on last year, according to a report issued by the company to the Spanish Stock Market Authority (CNMV). This year the company has increased its market share in Brazil and Chile and has received part of its income through the sale of its stake in Eutelsat. In spite of the reduction of net profit, the company’s EBITDA is up 23% on last year to €1.43 billion. Abertis specialises in three business areas: airports, toll roads and telecommunication infrastructures. 65% of the firms’ revenue comes from outside Spain.

Barcelona-based telecommunications company has bought 16.42% of Hispasat, which added to its previous shares means that Abertis now controls 57.05% of the satellite operator. The Catalan company has bought the shares from the Spanish Ministry of Defence, paying €172.5 million.  The deal included €153.5million to buy the shares, as well as €19million more to take full control of the operator. The transaction now has to be approved by the Spanish Government and the competition regulation authorities. According to a press release by Abertis, the company pledges to “develop the full potential for growth and value” of the satellite operator. In total, Abertis has invested €475million to obtain its current stake in Hispasat. In 2013, Hispasat is expected to generate €200million in revenue and it has a strategic importance for Spain and Spanish-speaking countries.

On Thursday, the European Space Agency will launch Europe’s largest telecommunications satellite, Alphasat I-XL, into space using technology designed and built by Catalan company MIER Comunicaciones. The device, weighing 6.6 tonnes, will allow secure connections to be made via the satellite and mobile terminals around the world. The company, based in La Garriga (Greater Barcelona), has produced 240 low noise amplifiers capable of receiving signals from mobile terminals up to 36,000km away. The technology created is of a compact design and uses a very low consumption of energy. The satellite will be launched on Thursday from the European spaceport in Kourou, French Guiana.

The British financial magazine ‘Euromoney’ has named the Catalan CaixaBank the world’s best bank in a technological innovation ranking. Furthermore, the publication considered CaixaBank to be the best Spanish bank for the second consecutive year. The Catalan entity is the largest bank within the Spanish market, ahead of the two world giants Santander and BBVA. Furthermore, CaixaBank leads online banking in Spain with 8.8 million clients.

Car manufacturer SEAT, which is part of the Volkswagen Group and is based in Greater Barcelona, has announced that the temporary mass lay-off will affect its entire staff in two phases. The first phase will be between September and December of 2013. 571 contracts per day will be temporarily suspended, in turns. In addition, the production lines for the Audi Q3 and the Seat Exceo will be closed for 16 days, affecting 2,800 employees. The Exceo car model will no longer be produced as of 2014. Furthermore, there will be a second phase of temporary lay-offs next year, when the Set Leon’s production line will be closed for 35 days, affecting 3,800 workers. The company explained that the decision was taken “after having exhausted all the internal flexibility measures”.

Catalonia’s industrial sector decreased by 1.1% in 2012 due to the economic crisis. Catalan companies exported products for €58.28 billion, the highest figure ever. This represented 5.7% more than in 2011 and 15.4% more than in 2008. Exports from Catalonia represented 26.2% of Spain’s total exports in 2012. Furthermore, foreign investment in industrial projects in Catalonia increased by 6.2% last year compared to 2011. Therefore, the highest volume of exports ever and an increase in foreign investment in industrial projects meant that the Catalan industrial sector decreased at a slower pace (-1.1%) than the Spanish average (-2.9%). The lack of access to bank credit is the main obstacle for corporate investments, stated the Catalan Government. The other great obstacle is the poor internal demand.

Catalan companies exported goods and services worth €5.05 billion in April, which represents a 13.4% growth compared to the same month of 2012. In the first four months of 2013, Catalonia exported €19.17 billion, a 1% increase compared to the same period of the previous year. Looking at figures for the whole of Spain, exports reached €29.40 billion in April, an 18.6% increase compared to figures from April 2012. Regarding the volume of exports reached in the first four months of 2013, Spain exported 76.98 billion, a 7.5% increase compared to the same period last year. The chemical sector led Catalan exports, followed by capital goods and cars.

The new facilities are the second longest building in the Catalan capital, as it is 186 metres long. Desigual’s new headquarters are located on prime real estate, just in front of Barceloneta beach and next to the W Hotel. They will initially host 840 employees but at a later stage they will host up to 1,500 people. The building is split into 6 storeys and occupies 24,400 square metres. According to Desigual’s President, Thomas Meyer, the building is inspired by the retail company’s values such as “positivity, respect, compromise and constant improvement”. The President of the Catalan Government, Artur Mas, attended the unveiling event and praised Desigual for combining the “informality” of its clothing style with the “seriousness” of a company with shops in more than 100 countries.

The investment is to be added to the €360 million plan to build a new logistic park for the Catalan multinational within the next 10 years. Construction work on the logistic park started in February in an area near Mango’s world headquarters, which are located in Greater Barcelona’s town of Palau-solità i Plegamans. The €27 million investment announced on Wednesday is for a new industrial building that will begin construction this summer next to the company’s main offices. It will host the all the staff in charge of Mango’s new lines for teenagers and mature women – respectively called ‘Rebels’ and ‘Violeta’ – as well as the company’s brand for men ‘H.E. by Mango’. The new facilities will add 17,000 square metres to Mango’s headquarters.

Mateu Hernández is the General Director of Barcelona Global, an independent private association that is trying to make Barcelona one of the best cities in the world to attract talent and business activity. Its activities are similar to associations like Partnership for New York, Berlín & Partners and London & Partners, for example. Barcelona Global is made up of the main research centres in the city, prestigious professionals from the Catalan capital or related to it, and more than thirty of the most powerful and innovative companies in Barcelona.

In a situation of difficult access to credit by Catalan and Spanish companies, Barcelona’s Chamber of Commerce and the main Spanish bank – which is based in the Catalan capital – have agreed to open a new credit line for the 25,000 private companies (small, medium-sized and large) and independent workers affiliated to the Chamber’s ‘Club Cambra’. In January 2012 they created the first credit fund with €2 billion. Now, a total of €3 billion will be available, of which €1 billion will be for internationalisation projects. CaixaBank’s President, Isidre Fainé, and the President of the Chamber, Miquel Valls, signed the new agreement on Wednesday.

The international business of the Catalan energy company has been the main driving force behind the profit increase in the January-March period, compared to a year ago. Gas Natural Fenosa’s EBITDA which come from its international business increased by 8.1% while that coming from the Spanish market dropped by 2%. International business represented 44.1% of Gas Natural Fenosa’s total consolidated turnover during the first three months of this year. The consolidated EBITDA reached €1.33 billion, 2.2% higher than that reached in the first quarter of 2012. The company’s debt levels reached 50.9%.

The Catalan financial entity Banc Sabadell reached an agreement with the Dutch insurance company AEGON on Friday to buy 50% of the shares of Mediterráneo Vida, S.A. de Seguros y Reaseguros, the joint venture originally established with Caja de Ahorros del Mediterráneo. The operation is on the condition that they receive the green light from the regulatory authorities. The transaction will allow Banc Sabadell to own 100% of Mediterráneo Vida, S.A. With the operation, the Catalan bank will move forward in the organisation of its insurance subsidiaries and affiliates.