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hotel TC

Overnight stays in hotels in Spain grow 2.8% in September compared to same month in 2023, passing 39-million mark

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…


iberdrola guapis

Iberdrola net profit, excluding capital gains from assets sales in Mexico, up 18% against 13% estimated, and with capital gains up 50% to €5,471 million

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…


OHLA

OHLA approves capital increase of up to €150 million to facilitate refinancing of debt of almost €550 million

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…


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Enagás profit at 9M24, excluding sales of Tallgrass and Morelos gas pipeline in 2023, reaches €233.5m (up 7.85%)

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…


Solaris CAF

CAF subsidiary Solaris to supply 96 electric buses to Transdev, and 30 to Arriva, for combined total of €90 million

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…


repsol banderines

Repsol, pre-qualified for commissioning of two photovoltaic parks in New York

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…


Ferrovial Toronto

Ferrovial brings stakes in toll road and car park concessions together in JV with Interogo Holding, called Umbrella Roads

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…


bbva sabadell fusion 2

BBVA to have to sell part or all of Sabadell stake if takeover bid succeeds but CNMC does not authorise merger

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….


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Moody’s upgrades Merlin Properties’ rating to ‘Baa1’ from ‘Baa2’ on continued rental growth

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…