Gas Natural Fenosa invests €85 million in its first power generation project in Brazil

November 2, 2016 07:29 PM | ACN

The Barcelona-based energy company Gas Natural Fenosa, through its subsidiary Global Power Generation (GPG), has signed an agreement to acquire a majority stake of 85% in two solar plants in Brazil from Gransolar Group. The operation will involve an investment of €85 million to implement their first power generation project in the Brazilian market. The production of these two facilities will be about 154 GWh a year. With this agreement, and the construction of a 91 MW plant in Australia announced last August, the holding company GPG Gas Natural Fenosa has already exceeded the target of energy production set for 2018 in its strategic plan.

SEAT has its first profitable year since 2008, earning €6 million in 2015

March 16, 2016 07:44 PM | ACN

After eight years of losses, SEAT has pulled itself out of the red, earning €6 million in profits after taxes in 2015. This marks an end of a period of struggle with a record turnover of 8,332 million (up 11 percent on 2014), stated SEAT CEO Luca de Meo. He also hopes that the success in 2015 will help the company maintain its momentum as it pushes into 2016 with the manufacture of a new SUV vehicle as well as the release of three other car models over the next 18 months. Although the company has faced significant challenges in the face of a recovering auto industry, SEAT has seen increasing demand from southern Europe in Italy and Spain, as well as in Germany, where the company made 90,000 of their 400,000 car sales in 2015. 

Banc Sabadell nearly doubled its profits in 2015 after integrating UK bank TSB

January 29, 2016 04:31 PM | ACN

The Catalan banking group Banc Sabadell earned €708.4 million in 2015, according to figures published by the company. This result is 90.6% higher than that obtained in 2014. The good result of Banc Sabadell in 2015 is mainly due to the integration of the UK bank TSB in June, which added accounts worth €122 million. Without this operation, Banc Sabadell’s net profits would only had grown by 57.8%. Thus, net interest income, which measures the bank’s ordinary activity of receiving deposits and authorising credit, was €3.203 billion, 41.7% higher than in 2014. The internationalisation of Banc Sabadell has already been consolidated and 32% of the credits were authorised abroad. In 2014, this percentage was 6%. The default rate, which has dropped to 7.79%, 5 points less than in 2014, also contributed to Banc Sabadell’s positive result.

€503 million profits for CaixaBank in 2013, ending a 4-year-long downward trend

January 31, 2014 07:29 PM | ACN

Barcelona-based CaixaBank, Spain’s largest bank, has earned €503 million in 2013, representing a 118 % increase on 2012. The private bank mostly owned by La Caixa has left behind a 4-year-long downward trend in profits which can be traced back to December 2009, towards the start of the economic crisis. This result was successfully reached by trying to maintain a similar provision volume than in 2012, which resulted in consuming €7.5 billion, meaning 4.81 % less than what was spent last year. The integration of Banca Cívica and Banc de València have contributed to a growth of the market share to 27.4 %. The bank’s core capital, which is the main solvency indicator, stood at 12.9% according to Basel II regulations and at 11.7% according to Basel III regulations.

FC Barcelona budgets a €35.9 million profit for the 2012/13 season

September 4, 2012 07:46 PM | Roger Bogunyà

Board member Toni Freixa announced that FC Barcelona has forecast income of €470 million and outgoings of €427.9 million for the coming year. Therefore, the Catalan club would end the current season with a profit of €35.9 million. The 2011/12 season closed with record profits of €48.8 million against a forecast of €21 million. Besides, the Board will ask the members’ delegates at the club’s assembly to authorise the calling of a referendum on the project relating to the future of the Camp Nou.

CatalunyaCaixa would need at least 1,500 million euros to reach the 10% of ‘core capital’

March 2, 2011 11:33 PM | CNA / Josep Ramon Torné

CatalunyaCaixa won 109.1 million euros in 2010, 1.1% less than in 2009. The second Catalan savings bank is the result from the merger of Caixa Catalunya, Caixa Tarragona and Caixa Manresa. The resulting savings bank currently has 6.9% of core capital, far from the needed 10% by next September. The savings bank already announced its plans to become a regular bank.