the market environment
Annual Report 2014 BME
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.