Ibex 35 companies closed 2023 with a net financial debt of 192,229.6 million euros, only a touch lower than the level seen at the end of 2022. Non-financial groups within the main index are taking on more debt as they pursue acquisitions and new investments, which naturally raises financing costs. As iBroker analyst Antonio Castelo notes, normal activity is returning after the pauses of 2020 and 2021. Investments are rising, smaller acquisitions are being explored, new markets are being entered, and higher interest rates lift the cost of debt. It makes sense that debt would rise given these conditions.
