Publication CEPYME500 2017

#BME
FINANCING DIVERSIFICATION COMES HAND IN HAND WITH INTERNATIONALISATION
Spanish companies have proved to be very swift when it comes to diversifying the origin
of their income; and, in fact, market prices support their doing so. A look at the turnover
of listed companies abroad shows that it has increased uninterruptedly and incessantly
in the last 20 years. This level of turnover internationalisation reached its historic peak in
2016, with a figure above 65% for the companies with the highest capitalisation, that is,
those that participate in the IBEX 35 index.
However, smaller companies are following this trend, as shown in the chart below. Thus,
for the 20 companies that were part of the IBEX Medium Cap in 2016, the percentage of
foreign business reached 64.84% of the total figure. Likewise, the percentage went up
to 63.73% for the 30 Spanish companies included in the IBEX Small Cap.
Net Turnover
Total Interior market Exterior market
2016 2016 2016 2015 2016 2015
N# companies
Cash Cash (%) (%) Cash (%) (%)
IBEX 35 35 (1) 420,686.76 143,858.08 34.20% 36.03% 276,828.69 65.80% 63.97%
IBEX MEDIUM CAP 20 44,049.65 15,489.24 35.16% 37.04% 28,560.41 64.84% 62.96%
IBEX SMALL CAP 30 (2) 10,903.40 3,955.03 36.27% 29.45% 6,948.37 63.73% 70.55%
RESTO 40 9,514.53 4,142.15 43.54% 29.04% 5,372.38 56.46% 70.96%
SIBE TOTAL 123 485,154.35 167,444.51 34.51% 35.71% 37,709.84% 65.49% 64.29%
Source: CNMV AND OWN DEVELOPMENT. (1) ONLY THE 34 SPANISH ARE TAKEN INTO ACCOUNT. (2) ONLY THE 29 SPANISH ARE TAKEN INTO ACCOUNT.
Data highlight that obtaining a business figure supported by abroad operations is a
good diversification indicator that helps compensate the reduction experienced by the
activity in the internal market after so many recession years.
Bolsas y Mercados Españoles (BME) MARKETS ARE ACCESSIBLE FOR SMEs
Spanish companies have proved to be very swift when it comes to diversifying the origin
of their income; and, in fact, market prices support their doing so. A look at the turnover
of listed companies abroad shows that it has increased uninterruptedly and incessantly
in the last 20 years. This level of turnover internationalisation reached its historic peak in
2016, with a figure above 65% for the companies with the highest capitalisation, that is,
those that participate in the IBEX 35 index.
However, smaller companies are following this trend, as shown in the chart below. Thus,
for the 20 companies that were part of the IBEX Medium Cap in 2016, the percentage of
foreign business reached 64.84% of the total figure. Likewise, the percentage went up
to 63.73% for the 30 Spanish companies included in the IBEX Small Cap.
CEPYME500 | 045