The large Spanish companies listed on the Ibex 35 increased their profits, as a whole, by 9.9% between January and September, which translates into 3,845 million moregoing from 38,746 to 42,590 million global profit. This despite the fact that its business figures remained almost stable after enter 0.7% more, 2.7 billion additional over a total of 396,043 million. Profitability improved, on average, 1.5%.
This is how it is extracted from joint analysis of companies who presented the closing of accounts as of September 30, in the absence of Inditex doing so in December. The biggest increases occurred in two of the big winners of the current economic situation: the bankingwhose year-on-year profits grew by double digits in most entities; and the tourismwhich maintained its dynamism as a result of the intense demand for travel both as a receiving and sending country.
The six listed banks They saw how their Revenue rose more than 6% year-on-year fruit of the continued rise in rates and the greater contribution of commissions given the intense commercial dynamism. Santander was once again confirmed as one of the major contributors in the club of 35, after increasing its income by 6.9% and registering a 14.3% improvement in its profits. Are 1,166 million more than those recorded between September 2024 and 2023a gain that exceeded the total result of 19 other listed companies.
He bank that increased its performance the most was Unicajawhich earned 451 million until the ninth month of the year, 58.2% more than the 285 million reported twelve months ago. The 14% improvement in their income was largely to blame for this. Also notable are the performances shown by BBVA and Sabadell, for which the takeover bid from the former to the latter does not seem to sow uncertainty.
The Basque bank increased its profits by 27.9%up to 7,622 million—1,661 million more—; while The Catalan entity improved its results by 26%going from 1,028 to 1,295 million euros, 267 more. Caixabank, with a 16% higher profit (4,248 million) and a 10% increase in income (up to 11,793 million); and Bankinter, with additional profits of 6.7% and 146 million more business (+7.3%), confirmed the good performance of the banking sector.
But the growth of the national index would not be understood without the great results recorded by the listed companies of the country’s economic engine, tourism. The Iberia parent company, IAGimproved its profits by 8.8%, to 2,340 million; while the national airport manager, AenaYonincreased its result by 27.3%up to 1,450 million. Amadeus, a meeting point for technology in the aviation sector, increased its profit by almost 18%, reaching almost one billion (992).
On this occasion, if there is one company that stands out above all the others, it is Iberdrola. The energy company chaired by Ignacio Sánchez Galán closed the third quarter with a profit of 1,834 million euros higher than the previous yearuntil reaching 5,471 million; and despite reducing their income by 11%.
It has its origin in the sale of assets in Mexico for 6,000 million, a movement that generated a capital gain of 1,165 million in its accounts. Discounting its effect, it would be at the not inconsiderable figure of 4,305 millionmaintaining its third position in the ranking of big winners after Santander and BBVA. It also leaves far behind the second ‘giant’ of the Ibex in sales, Repsol, which saw its profit fall by 35.7%, from 2,785 to 1,792 million.
Endesa improved its result by 32.6%, going from 1,059 to 1,404 million; while Naturgy reported a net profit of 1,580 million, an incomparable figure as it did not do the same in September of last year. Neither Acciona nor Acciona Energía have made public their performance in the third quarter. Energy distributors were not spared from the falls either: Enagas went from earning 259 million in September 2023 to posting red numbers of 130 million this year; while Redeia fell 23.6%, with a profit of 408.8 million.
Regarding construction companies, ACS led the growth in sales by entering 29,702 million, 12.5% more; and earn an additional 5%, 605 million. Ferrovial, which does not report a quarterly profit, earned 6.8% more, up to 6,643 million; while Sacyr barely improved by 0.6%, reaching 3,262 million. The big falls continued in the hands of the industry: ArcelorMittal reduced its profit by 55%, from 3,614 to 1,608 million; and Acerinox reduced it by 53.4%, from 348 to 162 million.
Colonial showed a reverse trend: it went from -299 million to 156 million positive this year. It is also worth highlighting the significant increase in Merlin’s profits, which went from 13 to 225 million, an increase of 1600%. In terms of profitability, the best performance was shown by Laboratorios Rovi, which increased its Ebitda from 74 to 167 million; and Ferrovial, which went from 700 to 1,008 million. The last to be listed, Puig, did not report ebitda or quarterly profit, but saw its sales rise by 10.2% year-on-year, going from 3,112 to 3,428 million.
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