With the effect of extraordinary increases in 2021, they achieved results of 56,024.82 million euros, 6% less in total.
Despite inflation, rising interest rates, recession fears and Russia’s invasion of Ukraine, the results of the major Spanish companies grouped in Ibex 35 recorded maximum profits. The main business groups received benefits amounting to 56,024.82. Revenues totaling 629,261 million Euros in 2022This represents an increase of 35% compared to the previous year.
However, benefits as a whole fell by 6%, driven by strong extraordinary impacts accumulating in 2021. EBITDA was €94,784 million, 6% higher than the previous year. 89,051 million euros. Shared net financial debt rose 6.49% to €189.099 million from 177,559 million in 2021.
Growth in billing and increased profits for some groups Caused rejection by some of the most radical sectors of government. Minister of Social Rights and the 2030 Agenda, Ione Belarra, accused the Mercadona president, calling him a “ruthless capitalist”. Head of government Pedro Sánchez described Rafael del Pino as “an unaffiliated businessman” after the announcement to move Ferrovial’s headquarters from Madrid to Amsterdam. Belarra also described the concessionaire as “a pirate company”.
The years 2021 and 2022 were characterized by the strong impact of positive unusual factors and operations. These include Telefónica’s sale of Telxius for 7,700 million and the sale of O2, the transfer of the Cobra subsidiary to Vinci by ACS.An increase in Ferrovial’s stake in a highway in the United States, CaixaBank (2.867 million), the merger of Unicaja and Liberbank, or a capital gain of 895.7 million from Línea Directa’s IPO for Bankinter.
Despite the extraordinary effects, the data show that mountain goat groups have resisted and even noted in a very complex macroeconomic environment. The most important data relates to income rising strongly despite inflation. Both the revenues obtained from foreign subsidiaries and the revenues registered in the domestic market were very positive.. The year 2022 has been characterized by the easing of pandemic restrictions, allowing for the resurgence of sectors heavily affected by covid, such as tourism. The increase in interest rates at the end of the year and the energy crisis increased the values related to the finance and energy sectors.
Banking and energy, big winners
Major Spanish banks consisting of Santander, BBVA, CaixaBank, Sabadell, Bankinter and Unicaja, Achieved 20,849 million euros in joint benefits in 2022. If capital gains for Bankinter from the IPO of Línea Directa are taken into account and the extraordinary effects of bank mergers in 2021 are discounted, this figure is 21.69% more than they earned in the previous year. These figures come in the context of high political noise in the face of criticism from the most radical sectors of the Government, who criticize what they see as excessive profits and demand a freeze on mortgage increases.
For this reason, execution Interest margin and net commissions will be taxed at a rate of 4.8% and expects to increase by 3,000 million over the next two years. According to estimates published by the banks themselves and calculations by the EFE agency, the six major organizations will pay more than 1,100 million dollars for this concept in 2023. Increases in interest rates by central banks have made the traditional banking business (lending for interest) more profitable, with good results.
While inflation was high, energy companies increased their results with the increase in energy prices due to the war in Ukraine. “Things have been very positive this year. The raw material costs these companies work with are due to conflict and conflict. passed on to consumersSeven energy companies in Ibex (Enagás, Endesa, Iberdrola, Naturgy, Red Eléctrica, Repsol, Solaria) posted a joint profit of €13,909 million in 2022, XTB analyst Darío García said. Repsol earned up to 70% more than in 2021, reaching 4,251 million euros.
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Tourism-related companies have also boosted Ibex’s results as a whole. The return to normal travel after two years of restrictions has been a real boost for the industry. The four tourism companies included in the index made a joint profit of 2 billion 107 million in 2022.. The IAG went from red numbers to profit, and Amadeus and Aena came out of harm’s way.
The downside is the giant ArcelorMittal, which is experiencing a 38% drop in profits. Also noteworthy is the decline in profits of the Colonial and Merlin real estate companies due to the decline in the value of their assets..