The 'brick' sector restrains the capital increases in 2016 to minimums of the whole crisis

Published on January 27th 2017

Capital increases in 2016 amounted to 32,413 million euros, which is a fall of 10.7% compared to 2015

Capital increases in 2016 amounted to 32,413 million euros, which represents a fall of 10.7% compared to 2015, in addition to being the worst figure recorded in the whole crisis, due to the adjustment of the sector of the ' brick'.

Real estate and construction companies, responsible for a third of the capital increases in Spain, reduced their amounts by 3,547 million euros, in addition to reducing capital by more than 5,380 million euros.

Specifically, real estate increased capital in 2016 for € 5,728.05 million, that is, 23.8% less than in the previous year, being also the lowest figure since 2014. For its part, the Construction closed 2016 with 5,015.08 million euros, 26.2% less than in 2015, consolidating as the worst data of the entire crisis.

Capital reductions, usually due to a deterioration in equity as a result of heavy losses or because the volume of sales is so low that it is necessary to reduce social capital, reached € 29,424.09 million in 2016, an increase of 34.3% in the inter-annual comparison.

On the other side of the balance, the rating agency places the financial sector as the sector that moved the most money last year. One in three euros raised in Spain went to financial and insurance activities, with capital increases amounting to 10,839.27 million euros.

After a decline of 35.7% in 2015, banking and insurance improved in 2016 to 26.95% in the second half of the year compared to the same period in 2015.

Madrid and Catalonia moved a total of 20,814.27 million euros. However, the Spanish capital is the leading statistic, accounting for 47.5% of all money mobilized in Spain through capital increases.

But, like the balance on the joint figures, the data in terms of geography have also been reduced. Madrid fell by 9.4% year-on-year to 15,403.23 million euros. While the fall in Catalonia was more accentuated, 16.1% less compared to 2015, with 5,411.03 million euros.

With regard to the size of the companies, the small companies are those that lead the activity of capital increases. In the previous year, they moved a total of 14,580 million euros, 44.9% of the total. This figure represents an increase of 16.4% compared to 2015.

On the contrary, the large companies reduced their activity by 21.4% in the year-on-year comparison, with a balance of 11,561.5 million euros.

Source: Expansión

 

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