Market Monitor Food Spain 2016

Market Monitor

  • Spain
  • Food

02 Dec 2016

While the industry is still fragmented, consolidation is on-going and companies should gain size and become more competitive domestically and abroad.

 

  • The agri-food sector is one of Spain´s most important industries, accounting for 9% of the national economy and 2.4 million employees. Sales grew 1.8% in 2015, to EUR 95 billion. Food exports, which account for more than 15% of total Spanish exports, increased 7.5%, to EUR 44 billion. The food sector is expected to grow further in 2016 and 2017, by 1.1% and 1.8% respectively.
  • The external financing requirement of food businesses is high, and access to credit (both working capital and long-term facilities) has further improved. Foreign direct investments in the Spanish agri-food sector increased 28% in 2015, up to EUR 1.9 billion, after significant decreases since 2010. However, this amount remains far below the EUR 2.8 billion of investment made back in 2010. At the same time Spanish investments in the food industry abroad have decreased since 2007, reaching only EUR 698 million in 2015.
  • The intense price war in the food retail segment has left some players in a difficult situation. While the industry is still fragmented, industry consolidation is on-going and companies should gain size and become more competitive domestically and abroad.
  • The average payment duration in the Spanish food industry is 80 days. Non-payment notifications remained stable in 2016, and we expect no increase in 2017. Due to the food sector's resilience and stable payment behaviour we are supportive in our underwriting stance. However, we are more cautious when underwriting the fruit and vegetables subsector, as well as slaughterhouses.

 

 

Relaterade dokument

Download
Market Monitor Food December 2016

934KB PDF

Relaterat innehåll

Global Economic Outlook - November 2016

Rapport

Pressures on international trade are mounting around the globe and the outlook is increasingly uncertain.

Country Report Spain 2016

Rapport

In 2016, Spain is expected to see another improvement in business failures (10% decrease), but compared to 2008 levels, insolvencies remain high.

Payment Practices Barometer Spain 2016

Rapport

Two in five respondents in Spain expect payment practices of B2B customers in the consumer durables industry to deteriorate over the next 12 months.

© Atradius N.V. 2004 - 2018

Ansvarsfriskrivning

De uppgifter som lämnas här tillhandahålls endast i informationssyfte och bör inte läggas till grund för några beslut. Försäkringsvillkoren återfinns i försäkringsbrevet eller i avtalet om köp av produkter eller tjänster. Ingenting i detta dokument ska tolkas som att Atradius har några rättigheter eller skyldigheter, till exempel skyldighet att genomföra due diligence-undersökningar av köpare eller för er räkning. Om Atradius genomför due diligence-undersökningar av kunder gör vi det som en del av vår bedömningsprocess och inte för den försäkrades eller någon annan persons räkning. Atradius och dess närstående företag, dotterföretag eller intresseföretag har heller inte under några omständigheter något ansvar för direkta, indirekta, särskilda eller oavsiktliga skador eller följdskador som uppstår till följd av informationen i detta dokument.