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the market environment


Annual Report 2014 BME

Business results

In 2014, the companies listed on the Spanish comput-

erized trading systemmaintained, at aggregated level

in the first nine months, very similar profit and activity

levels to those of 2013: operating income dropped

by 0.55% and profit by 1.07%. Significant discrep-

ancies arise in performance shown by the accounts

of different companies, although the number of

companies which have boosted profits is increasing.

In the same period last year, approximately 68% of

companies increased period results (76 out of 111),

as opposed to 64% in June (72 out of 113) and 55% at

the close of the first quarter.

Foreign trade continues to be a fundamental support

in boosting business activity and, in part, it is offset

by the fall in income arising from sales made on

the domestic market. Data at the end of the first

semester of 2014 reveal that the contribution of the

foreign sector to total turnover for the 111 companies

considered amounted to 61.89% of sales revenue, a

very similar percentage to figures for the whole of

2013 and a percentage point higher than the data

reported by these same companies in June last year.

This figure stands at almost 64% for IBEX 35 compa-

nies. It is also important to maintain employment,

especially in a situation such as the present once

since, as a whole, these companies provide work to

1.73 million people.

Aggregate profit is down but that of the IBEX 35

companies has risen by 3.1%.

After a significant rise reported in 2013, the aggregate

of profit after tax and minority interests generated by

domestic companies listed (1) on the main Spanish

stock exchange in the first nine months of 2014 rose

to 21,637, down 1.07% on the same period last year.

Undoubtedly, the large companies have drawn profits

in the period, contributing 98% of the global earnings

figure. Companies integrating the IBEX 35 as a whole

had obtained profit of €21,356 million, 3.1% more

than one year ago. In this group, the percentage of

companies which increase profit is higher than the

whole: 73.5%. These companies present a more

uniform performance and only one is in the red.