catalan companies

Due to the impossibility of finding extra capital, the Barcelona-based airline’s board has taken the decision to cancel all its flights and to suspend the company’s activity. Negotiations with Qatar Airways broke down, which forced Spanair’s board to analyse the company’s viability. The Catalan Government, which partially owns the airline, has refused to invest more money in the company, and thus Spanair stopped flying. Passengers will be refunded and will be able to buy discounted tickets with other airlines.

CaixaBank, the main Catalan financial institution experienced a 12.8% drop in its net profit when compared to 2010. In 2011, it focused on increasing its core capital ratio to 12.5% -one of the highest levels in Europe- to strengthen its inner resources and, at the same time, left generic funds for insolvencies intact, cementing its robust position in the financial sector.

This year's edition Mobile World Congress will be the first after Barcelona was officially declared the Mobile World Capital, and the organising city of this annual event until at least 2018. The MWC will start on February 27th with the motto “Redefining mobile”. More than 1,400 companies will be present and organisers expect to break last year’s records. There will also be three times more Catalan companies.

The company plans to open 60 new stores around the world in 2012, and build a new logistics centre in the town of Viladecans, located south of Barcelona. This year, the Catalan brand plans to launch a household linen collection and collaborate with the famous Cirque du Soleil to present new designs inspired by the spectacle.

The President of Barcelona’s Chamber of Commerce hopes others will join them by adopting a model that combines both public and private cooperation to offer companies new services such as a fund of €2 billion for loans or access to a world network of 1,500 chambers of commerce. With this new model, the Chamber wants to leave the past two years of budget cuts behind, focus on the future, be more useful to its members and offer added value services.

With this operation, the Catalan Banc Sabadell becomes Spain’s fifth largest banking group. The Bank of Spain has decided to accept Banc Sabadell’s offer to purchase the CAM, a savings bank that was rescued and restructured. Banc Sabadell buys CAM after the savings bank completed a €5.25 billion regularisation process to balance its books. Banc Sabadell will take on 20% of the expected losses over the next ten years from CAM’s real estate properties.

The Barcelona-based airline’s operational benefit reached almost €61 million, which represents a 2% increase compared to the same period last year. Despite the oil price increases, the company maintains its benefits thanks to the high occupancy rate of its flights (more than 80%) and the activity at its international bases.

The Catalan energy company reduced its debt to 54.4%, thanks to disinvestments. Gas Natural Fenosa ended the first nine months of the year with a net profit 0.3% lower than that in the same period in 2010. However, taking into account the effect of the disinvestments, the net profit increased by 11.6%.

The Catalan multinational company Abertis announced its results for the first three first quarters of 2011. Abertis’ net profit increased by 5.9% compared to the same period in 2010. The Barcelona-based company also announced that the segregation of Saba Infrastructures is complete.

The Franco-Japanese company has chosen the Catalan car component manufacturer Ficosa as their only automatic gearbox supplier for all the new cars targeting a middle-class market segment. The agreement is for the European, North-American, South-American and Asian markets. It will represent a sales volume of 45 million euros for Ficosa. The news reinforces Greater Barcelona as a base for the automotive industry.

The car is inspired by the car ‘Up!’ that Volkswagen presented at the Frankfurt Motor Show. Car manufacturer SEAT is based in Greater Barcelona, which is the main automobile cluster in Spain.

The Barcelona-based energy multinational and the Catalan Government have signed a cooperative agreement. The Catalan President Artur Mas emphasised that the Catalan multinational “is rising to what the country needs” in the current economic context.

26 new knowledge-intensive companies have set their offices in Barcelona’s 22@district over the first half of this year. The innovation district has more than 1,500 companies and increased its turnover by 5.4% against the 2008 census.

A Catalan company has developed a mobile phone application that identifies bars to watch your favourite sports games, no matter which country you are in. The application includes football, basketball, tennis and rugby games, as well as motorbike and Formula 1 races. It is called “Watch around”.

Barcelona-based Gas Natural Fenosa enlarges its capital with 515 million euros invested by the multinational North-African company, Société Nationale (Sonatrach).