Recession. That is the virus that flitting about the current environment, making analysts lower their predictions for Spanish companies. Still, at the center of the issue, there are some companies that are immune to the debt disease and compensating for slashed profits predictions with significant savings that become an increasingly large portion of their stock market worth. This is mostly the case with Técnicas Reunidas, whose savings just reached 42% of its market capitalization.
Market pressure is passing the buck to companies. Only Técnicas, BME and Inditex will close this fiscal year without any debt (Gamesa also did so in 2010, and it is hoped that Mediaset will this year, too).
Likewise, analysts hope that total savings of Ibex 35 companies will exceed 5 billion euros, which is 12% greater than last year. Inditex accounts for most of the growth; it is hoped that it will close 2011 with nearly 4.1 billion euros in savings as compared to 3.42 billion last year.
