Business

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.

Between January and June of this year, the port of Barcelona received a total of 1,040,823 cruise line passengers. This figure represents an increase of 15% over last year. The amount of cruises docking in the Catalan capital for at least one night is also up on last year to 351, an increase of 15% over the first six months of 2012. Of the total cruise line passengers that visit Barcelona, 56% begin or end their journey in the Catalan capital. These travellers make a major contribution to the local economy as they tend to spend a few days before or after their cruises exploring the city.

The Catalan president argued that if strict deficit targets are imposed upon his government budget again, it will be impossible to promote growth and create jobs, thus affecting the economy of Catalonia, Spain and the whole of southern Europe. The Spanish government will publish in the next few days new regional deficit targets for 2013 and Catalonia is asking for more flexibility. “If they do not offer us what we need, we won’t be able to stimulate our economy, and if we can’t do that, the whole of Spain and southern Europe will be affected”, stated Mas.

Many international and national companies have set up their headquarters in the 22@ area during the last decade, located in Poblenou, an old industrial district known as the “Catalan Manchester”. The borough continues to change and grow in many ways. Improved traffic distribution for the Plaça de les Glòries or the Design HUB are just some of the new proposals. At the moment, Poblenou is a landscape of contrasts: from hi-tech buildings to abandoned factories. It is a unique urban landscape as well as an ongoing challenge from an architectural, economic and social point of view.

As of 1 February 2014 the 517-seat A380 will link the Catalan capital with Dubai on a daily basis. It will be Spain’s first regular flight of the world’s largest passenger airliner. The flight will increase the route’s current passenger capacity by 44%. “Barcelona is one of the most popular destinations out of those that were unveiled in 2012,” stated Emirates Senior Vice President of Commercial Operations, Hubert Frach. The airline is currently running the flight with a Boeing 777-300ER aircraft.

The Workers Commissions trade union (CCOO) has issued a study calculating that 595,000 jobs have been lost in Catalonia since 2008. Furthermore, the number of unemployed people has increased by 428,000 individuals. The study also revealed that the active population was reduced by 85,900 people (-2.3%) between 2011 and the last quarter of 2012. The Socio-Economy Secretary of CCOO said at the presentation of the study that “there are no objective indications of a short-term recovery of the economy or employment levels”.

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.

The Spanish Transport Ministry and Barcelona’s City Council signed an agreement to unblock the construction work of La Sagrera train station, which was on hold due to the current financial crisis. This project is the main urban planning initiative Barcelona has been trying to develop since the Olympics. It involves building a huge inter-modal station, combining high-speed trains, short- and medium-distance trains, underground trains and buses. In addition, many retail, office and housing buildings would be built on top of the station and nearby. On top of this, a 4.5 kilometre-long park would be created, covering the rail yard and connecting several neighbourhoods that are now separated by the tracks. In early 2013, the project was at risk since the Spanish Government had not guaranteed its funds, despite the fact that construction work started years ago.

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.

The Catalan capital will host the certification and inspection lab that the China Certification & Inspection Group (CCIC) will base in Europe to analyse and validate the products that the Asian giant imports. The Chinese company will initially invest €2 million in its Barcelona centre, which will be built in the Zona Franca industrial and business district, located next to the city’s port and airport. The CCIC carries out the inspection, verification and certification of foreign products entering the Chinese market. The news was confirmed on Tuesday by the CCIC’s President, Zhan Li Qiang, in a meeting in Beijing with a business delegation from the Barcelona City Council. A year ago, the Mayor of Barcelona, Xavier Trias, met the CCIC in Hong Kong.

The Italian ferry company has built a 63,000 square metre terminal at the Costa dock, with an investment of €20 million and a capacity of 3,600 passengers per day. The new terminal will allow the city of Barcelona to gain a new urban area, since the space accessing and surrounding the terminal will be integrated into the city for the first time. Urban planning work will be concluded by the end of the year, announced the Mayor of Barcelona, Xavier Trias. The terminal has restaurants, bars, shops and free Wi-fi, and will allow the boarding of passengers and goods.

The 9th edition of the Videogame and Interactive Entertainment International Conference, Gamelab, takes place in the Catalan capital from the 26th to the 28th of June. This year the business fair and conference has moved to a smaller location – Catalonia’s Cinematheque. However, the number of participants remains the same and the expectations generated are probably bigger, since this year’s conference displays a top selection of “frontline speakers” at international level. In fact, Barcelona’s event has gradually become “one of the world congresses with the greatest influence” within the videogame industry and an “international reference” point, according to the organisers.