The Bank of Spain published a statistical note on 2024 economic and financial indicators for non-financial corporations covered by its Central Balance Sheet Data Office quarterly sample, showing net ordinary result (RON) rose by 12.1% versus 2023 and ordinary return on assets increased to 7.4%. The improvement came alongside continued growth in activity, with gross value added up 5.1%, while net turnover fell 1.8%, mainly reflecting declines in energy (-14.7%) and in trade and hospitality (-0.7%) linked to the fuel trade segment. Excluding energy and the energy products trade subsector, net turnover would have risen 2.9%. RON decreased in energy (-1.7%) and industry (-10.3%), with the industrial weakness largely driven by oil refining (-37.7%); excluding refining, industry would have posted 15% growth. The aggregate rise in RON was supported by higher activity and an 18.8% increase in financial income, offsetting increases in staff costs (4.9%) and financial expenses (11.9%). The Bank of Spain indicated that more detailed quarterly indicators for the fourth quarter of 2024 are scheduled for publication on 24 June 2025.
Bank of Spain 2025-03-24
Bank of Spain reports higher profits and asset profitability for non-financial firms in 2024
The Bank of Spain reported a 12.1% increase in net ordinary result (RON) and a rise in ordinary return on assets to 7.4% for non-financial corporations in 2024. Gross value added grew by 5.1%, while net turnover fell 1.8%, primarily due to declines in energy and trade sectors. The rise in RON was driven by increased activity and financial income, despite higher staff and financial expenses.