Foreign revenues of Spanish listed companies have grown consistently, reaching a record high in 2016, according to a report from Spain’s BME.
Net revenues of all the companies listed on the Spanish Stock Market in 2016 reached €485.1bn, of which €317.7bn (65.5%) were generated outside Spain.
Ibex 35 companies boast the highest percentage of foreign revenues, at 65.80%. However, more detailed analysis of the process of internationalisation of Spanish listed companies and the Spanish economy shows that the weight of smaller companies is also significant.
Thus, the 20 companies that made up the Ibex Medium Cap in 2016 reported foreign revenues of 64.84% of the total, while this percentage reached 63.73% in the 30 constituents of the Ibex Small Cap index.
The percentage of foreign revenues by Ibex 35 companies is almost 21 points higher than that posted by Dow Jones multinationals outside the US, registering 45% of their earnings from operations abroad, compared to 65.80% recorded by Ibex 35 companies.