ACS yakadzokororazve kubva pakadzika kwayo pakati paKurume nekungopfuura makumi maviri muzana. Sezvo iri imwe yehunhu hwakanyanya kukosheswa mune yakasarudzika indekisi yemari inoshanduka yenyika yedu, Ibex 20. Kusvikira yasvika pamatanho gumi nemana euros pachikamu chimwe nechimwe mushure mekuve padyo kusvika makumi mana euros pakupera kwegore rapfuura. Kuita uku mumisika yezvemari kwaitofungidzirwa sezvo zvaitengesa pazasi pehunokosha hwebhuku uye nechero chikamu chemugovano. Mune kambani inochengetedza zvarinotarisira mumitsara yayo yebhizinesi kwemakore anotevera.
Izvo zvakare zvakabatsirwa kubva kuchokwadi chekuti kwakave nekukosheswa kwakakosha muIbex 35 mumavhiki maviri apfuura. Iko kudzvinyirira kwekutengesa kwadzikira uye, zvakanyanya kukosha, huwandu hwekusagadzikana hwadzikira mumakambani akanyorwa pamisika yemari. Mune ino mamiriro akapararira, zvinofanirwa kuyeukwa kuti svondo rapfuura rebound yatosvika 22%, uye zvese zvinoita kunge zvinoratidza kuti inoenderera mberi nekosi yayo munguva pfupi. Muchokwadi, ichiri kutaridzirwa seyakaitika mamiriro kufamba kwedivi nekwakatsvedza padiki uye nezvinangwa pazvikamu mazana manomwe nemazana mashanu. Mune mamwe mazwi, netarisiro idzi panogona kunge paine mukana wekuongorora.
Mune ino maitiro mune yakasarudzika indekisi yeSpanish equities, hapana mubvunzo kuti chimwe chechengetedzo chakabatsirwa zvakanyanya iACS, sezvo zviri kujekesa mazuva ano. Kuve imwe yemakambani manomwe akanyorwa ayo akaonga zvakanyanya, uye pamusoro peiyo mahombe ebhuruu machipisi kubva kuIbex 35. Kunyangwe izvozvi mubvunzo wakabvunzwa nechikamu chikuru chevashambadziri vadiki nepakati ndechekuti kufamba uku kwakapera here kana kuti zvine mukana wekuenderera uchikwira zvinzvimbo. Nenongedzo yenguva pfupi-yekutenderedza € 22-23 pamugove, kunyangwe ichiri nzira refu kubva pazvinzvimbo zvavo zvekutanga
ACS: inosimudzira munguva pfupi
Chero zvazvingaitika, kambani yekuvaka inotungamirwa naFlorentino Pérez ndiyo ine kumanikidza kukuru mazuva ano. Kwete pasina, munguva pfupi pfupi yenguva yakabva pa11 kusvika pa19 euros pachikamu chimwe nechimwe. Nhanho yakakosha yekudzora kurasikirwa kwako mumisika yezvemari uye iyo inogona kukurudzira vashoma nevepakati varimari kuti vatange kuonana nezvinzvimbo zveiyi yakanyorwa kambani. Zvino izvo zvasara kuti zviongororwe ndezvekuti mafambiro aya ari chikamu chekukosha kwakakwirisa kana kana, nekupesana, chiri chimwe chinhu chikuru. Semuenzaniso, shanduko muitiro mune ipfupi izwi uye uchifunga kuti ACS migove yanga iri imwe yeaya akadonha zvakanyanya mudambudziko rekoronavirus.
Mukati meichi chirevo, iyo hukuru hwakakura mukufamba izvo zviri kuratidza mazuva ano. Zvese mune imwe pfungwa uye mune imwe uye izvo neimwe nzira zvakashamisa vadiki nepakati varimi. Nekuti zvirizvo, yakagadzira mutsauko pakati pemitengo yayo yepamusoro uye yepasi mune imwe chete yekutengesa chikamu chinopfuura gumi%. Nematanho akafanana zvakanyanya nemitengo kubva kubazi rezvekushanya, iro pasina mubvunzo riri iro rakanyanya kukanganiswa nekuwedzera kukuru kweutachiona hwenyika yese. Mune imwe nzira, kutsausa mashandiro evashandisi vemusika wemasheya.
Pfura chikamu chako kusvika 13%
Imwe yemhedzisiro inokosheswa kwekudonha uku mumitengo yemakambani kukosheswa kwave kuri kwekuti ACS's dividend goho rapfura kusvika kumazinga padhuze ne13% kubva kune yapfuura 6%. Kune rimwe divi, zvinofanirwa kucherechedzwa kuti parizvino ndiyo yakanyorwa kambani inopa mubairo wepamusoro kune vagovana. Kunyangwe aya margins adzikiswa nekuda kweye rebound iyo yaakasangana nayo mumazuva apfuura. Iine purofiti pamusoro peiyo inogadzirwa nemakambani emagetsi. Semuenzaniso, mune yakatarwa kesi yeIberdrola, Naturgy kana Endesa, iyo inopa chiyero chemubereko chakatenderedza 6% kana 7%. Muzviitiko zvese izvi, zvikwereti zvakachengetedzwa kukuvadza mapoka emari akasarudza kumiswa kwemuripo uyu.
Ndichiri kune rimwe divi, ACS haina imwe sarudzo asi ku tangazve iyo yepamusoro Nekuti zvingave zvakaoma kwazvo kwavari kuti vagadzire chikamu pamusoro pe10% kubva ikozvino zvichienda, sezviri kuitika izvozvi. Chero zvazvingaitika, pane chinhu chimwe chakajeka uye icho ndechekuti purofiti yekambani iyi yekuvaka yatove imwe yepamusoro-soro mukati merondedzero yekusarudzika munyika medu. Mune izvo zvakagadziriswa seimwe yeakanyanya kukurudzira evadiki nevapakati varimari kupinda munzvimbo dzavo. Nedonzvo rekugadzira yakachinjika kana isingachinjike mari yekuchinjisa yepakati uye kunyanya yakareba. Kunyanya kune vashandisi vane yakanyanya kudzivirirwa kana inochengetedza chimiro.
Maitiro ari nani kupfuura mamwe ese
Chiratidzo chakanakisa ndechekuti iyo Ibex 35 iri padhuze nemapoinzi e7000 panguva yesvondo rapfuura ndeyekuti rebound ine margin inosvika ku7400 uye ipapo kuti uone kana rebound ichienderera. Iko imwe yemitengo inogona kunyatsoita iri chaizvo iri kambani yekuvaka. Nekutsauka mumitengo inogona kuve pakati peyechete neaviri muzana poindi zvine chekuita nenzvimbo dzemamwe mazita eiyo inosarudzika indekisi yemusika wemasheya wenyika yedu. Kune rimwe divi, zvisina kukosha zvakanyanya inyaya yekuti chakaipisisa ACS inoita kunge yakaitika uye mupfungwa iyi inongoramba ichisimukira munzvimbo dzayo. Iine anopfuura akakosha ekudzokorodza mikana kubva zvino zvichienda mberi uye pamusoro pehunhu hwesangano rimwe chete rebhizinesi.
Izvo zvinofanirwa kucherechedzwawo kuti panguva ino zvese zvinhu zviri mumawoko ekufambisa mumisika yemari. Mune mamwe mazwi, hazvibvi pane zvaunogona kuita mumisika yemari. Kana zvisiri, pane kudaro, chinhu chiri kuratidza kukosha kwemakambani ihwo hutachiona pachahwo uye kugona kwaro kuhuwana kubva panguva ino zvichienda mberi. Asi hongu maitiro eACS anga achinyanya kugutsa mazuva ano uye neimwe nzira isingatarisirwe pachikamu chakanaka chevashambadzi vadiki nepakati. Kufanana nenyaya yekuti iine zvimwe zvinonyanya kukosha. Uye kana isati yatengesa padyo ne40 euros, hazvigone kudaro izvozvi inokosha isingasviki makumi maviri euros pachikamu chimwe nechimwe. Ndokunge, uine mutengo pamusoro pe50%.
Pamusoro pezvo, pane chokwadi chekuti kusvika pamwedzi mishoma yapfuura kuyerwa nevamiriri vezvemari kwaigutsa kwazvo kune zvido zvevashambadzi vadiki nepakati. Muzviitiko zvese zvine margins pamusoro pe30 euros uye netarisiro yakanaka kwazvo yemakore anotevera. Iko kwaive kweimwe yetsika dzakagadzikana mukati meIbex 35 uye nekudaro imwe yeinodiwa nevatengesi venyika uye kunze kwemiganhu yedu. Kuve uripo muchikamu chakanaka chemapotifolio ekudyara akaitwa nevatariri vemari yekudyara. Kuva imwe yemaitiro anonyanya kushanda kana zvasvika pakuumba nzira dzekudyara kuti zviite mari kuchengetedza kwevatengi vezvinhu zvemari. Kunyangwe kuchine mavhiki mazhinji asara kuti aone nzira yaachatora kwemakore mashoma anotevera.
Inokura 7% muna 2019
ACS Boka rekutengesa mu2019 rakasvika 39.049 mamirioni euros, inomiririra kuwedzera kwe6,5% nekuda kwesimba rinoratidzwa neNorth America, Australia neSpanish misika, ayo akakosha kwazvo muboka. Kutengesa kuNorth America kunomiririra 50% yeiyo yose, Europe 20%, Australia 19%, Asia 6%, South America 6% uye Africa iyo yasara 1%. Kutengesa kuSpain account ye14% yeiyo yakazara.
Nenyika, United States, Australia, Spain, Canada neGerman vanopa 82% yekutengesa kwese. Ndichiri kune rimwe divi, iyo portfolio pakupera kwe2019 yakamira pamamiriyoni mazana manomwe nemakumi manomwe nematanhatu emadhora, ichikura 77.756% (7,7% ichibvisa mhedzisiro yemutengo wekutsinhana). Iko iko kwakakura kweinoshanda purofiti (EBITDA) yasvika mamirioni e6 euros, ichiwedzera 3.148% uye ichivandudza margin ne7,0 bp kusvika 10% pakutengesa. Kune iro chikamu, iyo mambure anoshanda purofiti (EBIT) ye8,1 mamirioni euros yakawedzera ne2.126%. Muganhu wekutengesa unomira pa3,7%. Mune izvo zvakagadziriswa seimwe yezvikurudziro zvikuru kune vashoma nevapakati varimi kuti vapinde munzvimbo dzavo. Nedonzvo rekugadzira yakachinjika kana kushomeka yekuchinjisa mari yepakati uye kunyanya yakareba Kunyanya kune vashandisi vane yakanyanya kudzivirirwa kana inochengetedza chimiro.