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 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.