Eminye yemiphumela ngokuvela kwe-coronavirus ukuthi kukhiqizwa amanani amasha kwizibambiso ezibalwe kumasheya ezwe lethu. Ngeshwa, okubi, yize kungenxa yamanani entengo aphansi abanayo njengamanje, akukho ukushoda kwezinye izinkampani ezisohlwini ezethula amandla aphezulu inohlonze impela. Eminye yemithelela eyimbangela yalolu bhubhane olukhona njengamanje ukuthi kukhona ukuqhuma kweziqu ezimemezela ukumiswa kwezabelo zabo, kanti abanye bayakuqinisekisa lokho. Kuyindawo eshintsha kakhulu eyeqa amazinga okucindezelwa ohlangothini lwabatshalizimali abancane nabaphakathi.
Unjalo-ke umphumela walesi simo kusukela lapho PayPal Bathumela bonke abasebenzisi isaziso lapho bekhombisa khona ukuthi “sisenkathini yomlando engakaze ibonwe, lapho ubhadane lwe-COVID-19 lunomthelela omkhulu empilweni yabathandekayo bethu, futhi luthinta izinkampani esithembele kuzo, isimo esihle somnotho womhlaba, kanye nempilo yethu yansuku zonke ”Le yinkampani efakwe ohlwini lwezimakethe zamasheya zase-US, okuyisistimu yokukhokha eku-inthanethi esekela ukudluliswa kwemali phakathi kwabasebenzisi futhi esebenza njengenye indlela kagesi yezindlela zokukhokha zendabuko njengamasheke nama-oda emali.
Ngoba kungenzeka ukuthi ngemuva kokuxazululwa kwalesi sehlakalo esibucayi sempilo, izimakethe zamasheya ngeke zibuyele kokuyikho. Ngezinga ezinye izinkampani ezingenza ngalo yeka ukuhweba kusuka manje. Ngenkathi bonke abanye bekwenza lokho ngenani eliphansi kakhulu lemakethe yamasheya kunangezinyanga ezimbalwa ezedlule. Ngokombono, konke kukhombisa ukuthi kuzoba yimakethe eshintsha kakhulu lapho kuzodingeka ukuthi isebenze ngejubane elikhethekile ngoba imali isengcupheni. Akungabazeki ukuthi kuzoba khona ngaphambi nangemva kwalokho, njengakuhlelo lwezepolitiki nolwezenhlalo. Akukho okuzobuya okufana kusuka kulezi zinsuku noma kula masonto.
Ngabe umhlabathi wakhekile?
Enye yezinto ethakazelisa kakhulu abatshalizimali abancane nabaphakathi ukuthi ngabe i-Ibex 35 yakhe indawo noma uma, kunalokho, sisazobona amazinga aphansi emasontweni azayo. Izinga lokhiye lenziwe kumaphuzu ayi-6.000 futhi leso yisisekelo lapho kuqhamuke khona ukubuya kwesonto eledlule. Uma ingabhidlizwa, ibingakhuphukela cishe emaphoyiseni acishe abe ngu-5.000 2002, obekungaba ileveli ebekiwe ngo-XNUMX. Ngalo mqondo, esinye sezikhiye abahlaziyi abaningi bezezimali abasibhekise kuso ukuthi ukhiye ungaletha ukuthi kuyinqubekela phambili ekulweni ne-coronavirus ngokuya ngenani labantu abathintekile nabashonile.
Ngenkathi ngakolunye uhlangothi, okwenzekayo emasontweni amabili noma amathathu ezayo kuzothatha isinqumo sokukhombisa ukuthi yini ezoba umkhuba wezimakethe zezimali ngaphandle kwalowo mzuzu. Ngoba akukwazi ukukhishwa njengamanje kubuya Kungumnyakazo wokusula okubekwe eceleni okunamandla okugcinwe amanani. Kepha hhayi njengokusebenza okukhombisa ushintsho kuthrendi olungakhuthaza ukuvula izikhundla. Kungokusebenza kwesikhashana okufushane lapho kukhona isiqinisekiso sokuphumelela ngezikhathi ezithile uma nje kwenzeka ngokulungiswa okukhulu kumanani entengo nokuthengwa. Ngenxa yokungazinzi okukhulu okulethwa izimakethe zezimali kulezi zinsuku. Ngamazinga aphakeme kuno-10% ezikhathini eziningi.
Ngakolunye uhlangothi, akuwona wonke amanani azoba nokuziphatha okufanayo ngoba umehluko phakathi kokunye noma omunye ungafinyelela kumazinga we-4% noma u-5%. Lapho ukukhetha kwabo kuzoba yisici esinqumayo senzuzo yokusebenza, okungenani esikhathini esifushane. Ngalo mqondo, akukwazi ukukhohlwa ukuthi yize kukhona konke kube namagugu anezilinganiso ezikahle kulezi zinsuku ezinzima. Njengamacala athile we Ama-Grifols noma i-Viscofan eziqiniswe kancane kusukela ekuqaleni kukaMashi. Futhi okwamanje basebenza njengamagugu okuphepha ngokumelene nengxenye enhle yokugeleza kwemali yezimali ezinkulu zokutshala imali.
Ukusebenza kuqinisekisiwe
Ebhekene nenkinga yeCovid-19 kanye nezinyathelo ezehlukile ezisetshenziswayo kulo lonke elaseYurophu, amaStock Exchange ahlangane ukuze aqalise ngempumelelo izinhlelo zawo zokuqhubeka namabhizinisi ukuqinisekisa ukuqhubeka kwezimakethe. Kusukela ekuqaleni kwenhlekelele yeCovid 19, iStock Exchanges zisebenza ngokuphelele futhi basebenzise izinhlelo zabo zokuqhubeka nebhizinisi, ngokuya ngemibandela efanele. Izimakethe zihlala zivulelekile kubo bonke futhi zisebenza kahle kulezi zimo zemakethe ezimbi kakhulu. Lezi zinhlelo ziqinisekisa ukuthi yonke into isebenza ngokugculisayo, noma ngabe kwenziwa 'imigomo yokusebenza kwasekhaya', futhi isetshenzisiwe ngokubambisana nabaphathi abaphethe.
Ngakolunye uhlangothi, ezimakethe zamasheya njengezinto ezilawulwa kakhulu, ukuqina kokusebenza akuyona nje inketho, kepha ukuzibophezela kanye nesidingo. Ukuhwebelana ngokuqhubekayo kubhekwa ngeso elibukhali njalo ukuqinisekisa ukuthi sihlala siqinile futhi sithembekile kuzimo ezahlukahlukene, kufaka phakathi ubhadane.
Ukubuyekezwa kwamanye amanani
Umnyango wokuhlaziya weBankinter ubuyekeza isimo sezinye izibambiso ezibhalwe ezimakethe zezimali. Ubuso bumelwe yinkampani kagesi i-Endesa leyo migcina ukuzibophezela kwayo ekukhokheleni umninimasheya okucatshangwa ohlelweni lwayo lwesahlukaniso esiphelele esihambelana nonyaka wezimali ka-2019 wama-euro angu-1,475 ngesabelo ngasinye. Lokhu kumele ukulethwa kwama-share share angaphezu kwama-euro ayizigidi eziyi-1.500. U-Enel, ongumnikazi we-70% yamasheya enkampani, uzothola cishe ama-euro ayizigidi eziyi-1.100. Ngale ndlela, i-Endesa izohambisa umhlangano wayo jikelele wabaninimasheya, ohlelelwe uMeyi 5 olandelayo, ukukhokhwa kwemali eyengeziwe ezokhokhwa ngenyanga kaJulayi, nokuthi, ngama-0,7 euros akhokhelwe ngoJanuwari owedlule nge-akhawunti, izokhuphula umholo ophelele wango-2019 ube ngu-1,475 euros ngesabelo ngasinye, okusho ukukhuphuka kuka-3% ngaphezu kwesabelo esikhokhelwe imiphumela yango-2018.
Kusuka kwaBankinter bakhombisa ukuthi i-Endesa inezici ezintathu ezibalulekile ezibeka esimweni esihle ukuze ikwazi ukugcina isabelo naphezu kwenkinga ye-coronavirus. Okokuqala, ama-63% e-EBITDA yayo aqhamuka emisebenzini elawulwayo yokusabalalisa ugesi, esungulwa ngokuya ngokubuyiselwa kwesisekelo sempahla futhi ezimele ekuguqukeni komsebenzi wezomnotho. Ibhizinisi elenza ugesi ovulekile nelokuhweba lizothinteka kule nkinga, kepha hhayi kakhulu njengezinye izimboni.
Ekugcineni, i-Endesa inesimo sezezimali esinempilo kakhulu ngesilinganiso se-Net Debt / EBITDA esingaphansi kwe-1,7x. NgoNovemba odlule, Abakwa-Endesa bavuselele uhlelo lwabo lwamasu lwango-2019-2022, lapho ihlela ukusabalalisa amanye ama-euro ayizigidi ezingama-5.970 kwizabelo phakathi kwabaninimasheya kuleyo minyaka emine. Isabelo esilindelekile esizosatshalaliswa ngokuqhamuka nemiphumela yango-2020 ngama-1,60 euros ngesabelo ngasinye, ekhokhwa ngo-2021. Ngenxa yalokho, bakhetha ukuthenga izibambiso zabo ngenani elihlosiwe elibekwe kuma-euro angama-27,30 ngesabelo ngasinye.
Isiphambano yi-AENA
Umnyango wokuhlaziya weBankinter futhi maqondana nale nkampani efakwe kuhlu awunathemba. Ngokulinganisa ukuthi inani labagibeli bakwa-Aena buthelela ukwehla kwe -45,5% kuze kube manje ngoMashi, yize sekusheshise kwaba -97% ezinsukwini ezisanda kwedlula. Ngakho-ke, izibikezelo zayo zethrafikhi zango-2020 azisasebenzi (+ 1,9%). Ukuvikela umthelela, i-Aena ihlele kabusha ukusebenza kwezikhumulo zezindiza zayo ngenhloso yokwehlisa okwesikhashana izindleko cishe ngama-euro ayizigidi ezingama-43 ngenyanga. Ngaphezu kwalokho, ikhubaze okwesikhashana uhlelo lwayo lokutshala imali (ama-euro ayizigidi ezingama-52 ngenyanga). I-Aena inemali engamakhulu ayizigidi ezingama-1.350, okungenzeka ukuthi iyinyuse ngama-euro ayizigidi ezingama-900 ngezinhlelo ze-Euro Commercial Paper (ECP) nokusayina izakhiwo ezintsha kanye nemalimboleko. Isinqumo senzuzo sihlehlisiwe kuze kube umhlangano ubanjwa, kungabikho usuku ngalesi sikhathi.
Umbono webhizinisi eliphethe ukwenza ukuhlaziywa ukuthi “yize kusesekuseni kakhulu ukulinganisa umthelela wokugcina wegciwane, uma sithatha ukuthi imali engenayo yezinyanga ezi-3 ilahlekile ngokuphelele nokuthi umsebenzi ujwayelekile ngemuva kwalokho, umthelela we-Coronavirus AENA's EPS 2020, futhi ngokubonakalayo futhi kusabelo sawo, kuzoba seduze ne--65% futhi isikweletu sisonke sizokwenyuka ngo-10% siye cishe ku-7.300 million euros. Kodwa-ke, umthelela ekulinganisweni uzoba ngu -4% kuphela. Sigcina izincomo zokungathathi hlangothi ”. Ngenani elihlosiwe lama-euro ayi-171,90 ngesabelo ngasinye. Ngenxa yokungazinzi okukhulu okulethwa izimakethe zezimali kulezi zinsuku. Ngamazinga aphakeme kuno-10% ezikhathini eziningi futhi okuvimbela ingxenye enhle yokusebenza emakethe yamasheya.