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IBERIAN DAILY 01 APRIL (ANÁLISIS BANCO SABADELL)

IBERIAN DAILY 01 APRIL (ANÁLISIS BANCO SABADELL)
Underlyings
Acciona SA

Acciona is the parent company of a construction group. Co. is engaged in general construction activities in the areas of civil engineering and buildings, including railways, marine and hydraulic works, motorways and airports, town planning, conduits, pavements, parking lots, and industrial and urban buildings. In addition, Co. is engaged in the provision of real estate services, the operation of parking lots, telecommunications, services, ecology and alternative means of energy. Co.'s operations are organized in six business divisions: Infrastructures, Real Estate, Energy, Water, Environmental & Urban Services and Logistic & Transport Services.

Banco Santander S.A.

Banco Santander is a holding company, providing a range of financial products. Co.'s products and services include: retail banking business that covers all customer banking businesses; wholesale banking business; as well as asset management and insurance business. Co.'s principal operations are in Spain, the U.K., Portugal, Germany, Italy and Latin America. As of Dec 31 2014, Co.'s total assets amounted to Euro1,266,296,000,000 and total customer deposits amounted to Euro647,627,000,000.

Duro Felguera S.A.

Duro Felguera is engaged in electrical and mechanical engineering activities, including the manufacture, turn-key installation, and service of industrial machinery in the metallurgic sector. Co. is also engaged in the contract, distribution and sale of fuel-oil, gas-oil and diesel-oil, as well as in the mining and production of iron and steel. Through its subsidiaries, Co. is engaged in the provision of fuel-oil, gas-oil, diesel-oil, and intermediate products in high technology, including software, hardware, research, development as well as in investments.

SIEMENS GAMESA (SGRE SM)

Talgo SA

Talgo is engaged in designing, manufacturing, repairing and maintaining the railway rolling stock, as well as the manufacturing, assembling, repairing and maintaining the engines, machinery and parts of the railway systems. Co. has an industrial presence in seven countries: Spain, Germany, Kazakhstan, Uzbekistan, Russia, Saudi Arabia and U.S.A. Co. has an active fleet in Europe, Asia and North America that comprises of 94 high-speed trains and more than 1,400 Talgo tilting passenger cars. Also, Co. purchases, redesigns, constructs, leases and sells all types of real estate.

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Sabadell
Sabadell

Analysts
Research Department

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