April 20, 2021

SEPI forecasts a turnover of 5,318 million, 6% more, driven by Correos and Navantia

SEPI forecasts a turnover of 5,318 million, 6% more, driven by Correos and Navantia


The State Company of Industrial Participations (SEPI) This year it expects to reach a turnover of 5,318 million euros, which represents an increase of 6% compared to its 2018 accounts, according to the president of the public holding company, Vicente Fernández Guerrero, announced on Thursday.

In its appearance in the Budget Committee of the CongressFernandez stressed that "most of this increase" will come from Correos and Navantia, two of the companies in the group, which will bill 2,301 and 1,574 million, respectively.

As a whole, the SEPI group hopes to reach 2019 revenues of 6,248 million euros, 4.9% more that last year, while the expenses will amount to 5,855 million, of which 46% will correspond to the personnel chapter.

In this way, Fernandez indicated that the SEPI group estimates after-tax profits of 391 million euros for this year, well above the 148 marked in the 2018 budgets, contributing especially the improvements expected in Navantia, Correos and the own SEPI matrix.

With regard to the public holding investments, stressed that this year will amount to 302 million euros, compared to 295 million euros in 2018, benefiting all the autonomous communities in which it operates, especially Andalusia, with 20% of the total, Madrid (19% ), Galicia (15%), Catalonia (7%), Murcia (5%), as well as Asturias, Valencia and Cantabria, with 4% each.

With regard to employment, Fernández considered that will reach 76,491 workers in the group, which accounts for almost 3% of industrial employment in Spain, generating induced employment close to 260,000 workers.

Finally, the president of SEPI highlighted the group's effort in innovation, where will allocate R + D + i about 178 million of euros, 11% more than expected in the 2018 Budgets and 22% more than what was done in 2017.

Fernández also assessed the progress made in recent years in three of the group's large companies -Navantia, Correos and Hunosa-, of "a transcendental importance" for their transformations.

Finally, on Hunosa, he assured that the principle of agreement reached with the representatives of the workers on the new business plan will have a "positive effect" on the industrial sector of the Principality of Asturias and will "clear the future" of the company.


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