Norbolsa | The US Army Corps of Engineers has awarded ACS (ACS) a €610 million contract to rebuild the Howard A. Hanson Dam in Washington state, improving habitat and increasing water storage. This project is in addition to other ACS contracts with the US Army, such as the €2.7 billion renovation of Dry Dock 3 in Pearl Harbor, Hawaii.
Link Securities | According to the Hotel Tourism Situation Report (EOH/IPH/IRSH), released yesterday by the National Statistics Institute (INE), overnight stays in hotel establishments in Spain increased by 2.8% in September compared to the same month in 2023, exceeding 39 million. In September, overnight stays by travellers resident in Spain fell by 0.7%, while those by non-residents grew by 4.4%. In the 9M2024 period, overnight stays increased by 5.2% compared…
Bankinter : Iberdrola’s 9M 2024 results beat consensus estimates. Earnings excluding capital gains from the sale of assets in Mexico increased by 18% versus 13% estimated. Positive factors: (i) Growth in the regulated asset base in networks and tariff revisions; (ii) Improvement in the commercialisation margin and (iii) Record hydroelectric generation and new capacity in renewables. These factors more than offset the lower contribution from the gas business and the…
Link Securities | OHLA’s Extraordinary Shareholders’ Meeting yesterday approved the Board’s proposal to launch this year a capital increase of up to €150 million to facilitate the refinancing of the company’s debt of almost €550 million, between bonds and bank debt, Expansión reported. ‘The company will be strengthened with greater resources,’ said Luis Amodio, president of the construction company. OHLA will repay €140 million to bondholders with the increase approved…
Link Securities | The company today presented its results for the first nine months of the year (9M2024), of which we highlight the following aspects: The company’s total revenues at 30 September 2024 amounted to €665.2m (down 1.1% year-on-year). The figure for regulated revenues in the first nine months of 2024 includes the impact of the regulatory framework (down €33.3 million), which has been partially offset by the increase in…
Link Securities | Solaris, a subsidiary of CAF (CAF), will supply 96 electric buses to Transdev, and a further 30 to Arriva, both Dutch operators, according to Bolsamania. The combined value of the two contracts is approximately 90 million euros. For Transdev, one of the largest transport operators in the Netherlands, the order covers the delivery of 96 buses corresponding to four different vehicle models from the Urbino range, with…
Renta 4 | Two 520 MW ConnectGen/Repsol photovoltaic parks have been prequalified for commissioning in conjunction with the New York Power Authority (NYPA), the country’s largest state-owned utility, according to press reports. The first farm will be located in central New York State and will have 250 MW of generating capacity and is expected to be operational by the end of next year. The second will be located in the…
Alphavalue / Divacons | The Spanish construction, services and concessions company and Interogo Holding created a joint venture called Umbrella Roads BV, aimed at managing Ferrovial’s stakes in motorway and parking concessions in Spain, Scotland, Ireland and Canada. These assets operate under availability payment schemes or with limited traffic risk. According to a Ferrovial statement, the group will transfer the economic rights of Umbrella Roads BV, while retaining majority voting…
Link Securities | BBVA (BBVA) will have to sell part or all of its stake in Banco Sabadell (SAB) if the takeover bid succeeds but the National Markets and Competition Commission (CNMC) decides not to authorise the merger and its ruling is known after the end of the acceptance period, according to the updated prospectus for the deal submitted on Tuesday to the US regulator SEC, reports Expansión on Thursday….
Link Securities | Credit rating agency Moody’s has upgraded Merlin Properties’ long-term issuer rating to “Baa1” from “Baa2”, the digital portal Bolsamania.com reported yesterday. In addition, the outlook has been changed from “positive” to “stable”. This upgrade, as they point out, reflects good operating performance driven by continued rental growth, sustainably lower leverage and long-term benefits from an improving business profile that is shifting towards favourable asset classes with a…