Descarga aquí el Unicaja Banco has published the report ‘Análisis Econónomico-Financiero de la Empresa de Castilla y León 2021’ (Economic and Financial Analysis of Castilla y León Companies 2021), prepared by Analistas Económicos de Andalucía (research company of Grupo Unicaja Banco).
The preparation and publication of this report falls within Unicaja Banco’s policy to support the business sector and to foster entrepreneurship, and it is based on a detailed analysis of the annual accounts presented by over 800,000 companies at the trade registers of Spain, of which 37,500 are located in Castilla y León. The data analyzed correspond to the financial year 2019 –latest year with information available for all the companies which compose the sample-. This edition includes an advance of the results of Castilla y León companies in 2020.
The report shows the main features of the business fabric in Spain and its Autonomous Communities, with focus on Castilla y León and its provinces, and it has the following structure: after a first introductory section and the synthesis of the main results, a review is made of the demographic evolution of the productive fabric from different approaches, such as sector, legal nature or size.
In a second section, the report analyses the companies which, because of their economic and financial behavior, are regarded as ‘Business References’, under three classification criteria: capacity to generate resources (Leaders), capacity to increase sales (Gazelles) and capacity to obtain a high profitability (High Profitability).
Then, the third section pays attention to the economic and financial evolution during the period 2017-2019, although the core of the examined information is the last year. The analysis in supplemented with an advance of the financial year 2020.
Finally, the ‘Economic and Financial Reports’ of the main aggregates and a ‘Dictionary of economic and financial terms’ are included as annexes, to make it easier to understand and construe the document.
The main results of the report regarding Castilla y León companies are explained below:
Business demographic dynamics
At the beginning of 2020, 160,199 business developed their activities in Castilla y León, 1,208 less than in 2019 (-0.7% year-on-year). This figure represents 4.7% of the total national.
Regarding business density, in Castilla y León there are 66.9 companies per thousand inhabitants, 1.7 more firms than in 2015.
With regard to size, businesses without employees represent 55.1% of the total; companies with 1 to 9 employees, 41.0%; those with 10 to 99 employees, 3.7%, and those with more than 100, 0.2%. Since 2015, the number of businesses has grown in the group of firms with more than 100 employees (18.9%), those with 10 to 99 (8.9%) and those with no employees (1.2%), whereas it has decreased in the group of companies with 1 to 9 employees (-3.7%).
Considering the activity sector, commerce, hospitality and transport companies represent 38.9% of the total of companies; those in other commercial services, 39.6%; construction, 14.3%, and industry, 7.2%. In comparison with 2015, companies from the services sector not related to commerce grew by 10.2%, whereas those from the commerce, hospitality and transport sector fell by 7.6%, construction companies by 5.8% and industrial companies, by 0.6%.
From a territorial perspective, Valladolid has 33,456 companies (20.9% of the total of the region), followed by León with 30,838 (19.2%), Burgos (25,593, 16.05), Salamanca (22,380, 14.0%), Zamora (11,408, 7,1%), Segovia (10,825, 6,8%), Ávila (10,198, 6.4%), Palencia (9,813, 6.1%) and Soria (5,688, 3.6%). In terms of business density, Burgos (71.6 companies per thousand inhabitants), Segovia (70.5), Salamanca (68.0) and León (67.6) surpass the regional average.
On the other hand, 2020 saw the creation of 2,188 mercantile companies in Castilla y León. This figure represents 2.8% of the total national. In contrast, the number of dissolved companies reached 937 (4.6% of the total national), of which 7.7% were due to merger transactions.
With the data for the period 2016-2019, 2,622 companies in Castilla y León meet the excellence criteria considered, of which 1,130 businesses are regarded as Leaders (3.0% of the available sample), 796 as Gazelles (2.7%) and 696 as High Profitability (2.2%).
From a sectoral perspective, the greater weight of non-commercial services companies (38.7%) stands out, ahead of those in the industrial sector (26.9%), commerce (18.1%), construction (11.9%) and agriculture (4.4%). Industrial companies (42.2%) and companies of services other than commerce (30.6%) have a higher weight in the category of Leaders. In Gazelles, services (37.6%), commerce (22.4%) and construction (21.4%) are the sectors with a higher number of companies. Finally, in High Profitability, companies of services other than commerce account for 53.0% of the group.
From a territorial point of view, Valladolid (27.4%), Burgos (16.8%) and León (15.8%) gather the largest concentration of business references in Castilla y León. The largest presence of Leaders is found in Valladolid (26.9%) and Burgos (21.8%), Gazelles (28.1%) are found in Valladolid (27.6%) and León (18.7%), whereas most High Profitability (31.2%) companies are located in Valladolid (28.0%), León (16.4%) and Salamanca (15.8%).
The weight of services stands out in the references of Valladolid (44.8% of the provincial total), Palencia (41.0%) and León (39.8%), that of industry in Brugos (35.8%), Soria (35.8%) and Zamora (29.0%), commerce in Zamora (26.2%) and León (23.4%), construction in Avila (21.0%) and agriculture stands out in Segovia (16.2%).
Economic and financial analysis 2019 and advance for 2020
In 2019, the sales of Castilla y León companies increased by 2.3% (3.5% in Spain). From the point of view of sectors, the largest increase has been registered in construction (9.0), followed by agriculture (8.8%) and services other than commerce (8.0%). By provinces, the growth of companies in Segovia (8.5%), Soria (7.2%), Zamora (6.4%) and León (5.3%) are to be remarked.
The year result represents 4.8% of sales, a 0.7 p.p. year-on-year increase (8.0% in Spain), with services other than commerce standing as the sector with the largest weight in this variable (12.1%). Additionally, 69.2% of companies in the region obtained positive results in 2019, a percentage higher than that of Spain (66.4%) and a 1.6 p.p. increase year-on-year (1.3 p.p. in Spain).
On the other hand, investment has increased by 4.4% (3.4% in Spain), on the grounds of a higher growth of non-current assets (5.2%) than current assets (3.4%). Agriculture has been sector with the highest growth in total investment (6.3%).
With regard to funding, own funds increased by 8.1%, whereas in borrowed capital, the growth of short-term liabilities has been of 2.4%, accompanied by a 1.0% decrease in non-current liabilities. As per their origin, liabilities with credit institutions represent grew in the short term (3.8%) and fell in the long term (-0.7%), whereas regular debt with group companies and commercial creditors increased (3.3% and 1.3% respectively).
Regarding the performance of the business activity, an improvement has been noticed both in economic (5.4%) and financial (8.7%) profitability in 2019 (0.2 and 0.9 p.p. year-on-year, respectively). By sectors, the economic profitability is higher in agriculture (6.5%), and by provinces, in Segovia (7.0%) and Soria (6.2%) companies.
In 2020, sales of Castilla y León companies dropped by 10.8%, more moderately than the estimations for Spain (-11.3%), with different intensity by sectors, ranging from -16.4% in services other than commerce to -11.1% in commerce.
With regard to the profit and loss account, the operating result recorded a fall of 26.4% (-38.6% in Spain), with a greater impact on companies with a turnover of more than 10 million euros (-31.5%) and those in services other than commerce (-41.9%).
On the other hand, investment increased by 1.1% (0.9% in Spain), with the growth for commercial companies standing out (2.5%). In terms of funding, there was growth in equity (2.6%) and non-current liabilities (7.1%), while current liabilities fell by 5.0%.
From the point of view of profitability, Castilla y León companies achieved an economic profitability of 4.3%, with financial profitability after tax amounted to 6.2%, figures higher than that of the national aggregate (3.1% and 5.0% respectively).