Certifies that all rescued companies are complying with their viability plan and payment schedule


The State Industrial Participation Company (SEPI) expects to obtain a profit of 120 million euros in 2023 and increase its turnover by 10% compared to this year, to 5,757 million euros.

This has been advanced by its president, Belén Gualda, in her appearance before the Congress Budget Commission, to which she has gone to explain the company’s accounts in the 2023 General State Budgets.

After closing 2021 with profits of 159 million euros and forecasting balance for this year 2022, the forecast of the public company is to close next year with an aggregate profit of 280 million.

Correos, Navantia and Tragsa account for 88% of the turnover, with an increase of 23% in the case of Navantia (1,673 million), driven by the budget increase in Defense and the progress of programs such as the F-110, the BAM IS, the Moroccan Patrol Boat and the S-80 submarine, but also the greatest activity in renewable energy business lines.

For its part, Tragsa increases its turnover next year by 57 million euros, to 1,181 million, with a growth of 5% due to different orders necessary for the execution of programs of the Recovery Plan of the European Union, of environmental restoration or those related to campaigns against forest fires.

In the case of Correos, its turnover will reach 2,223 million euros in 2023, 117 million more than in 2022, with a growth of 5.6%, derived mainly from the recovery in the parcel business and also from the new business growth.

In his speech, the ‘popular’ deputy Celso Delgado has discredited the SEPI president for her role in the management of the president of Correos, Juan Manuel Serrano, due to the accumulated losses and the loss of equity value in this company.

Gualda has explained that his situation is “complex”, he has valued the reduction in 75 million of his losses and has underlined his commitment to the universal postal service “hand in hand with the social part”, trusting in the recovery of the services of parcels and in the growth of new businesses such as logistics or offices in the areas most affected by depopulation.

On the other hand, Gualda has not clarified to questions from the Vox deputy Víctor González Coello from Portugal if he knew in advance the intention to vote the dismissal of four independent directors who did not support greater involvement of the State in this entity, relying for this on the Amber fund and the SAPA group.

Gualda has limited its response to assuring that “SEPI respects and promotes good corporate governance” in all the companies in which it participates, that “it has followed the same procedure that it always follows for its participation in corporate governance decisions” and that when making decisions and exercising their political rights, they do so “always looking out for the general interest of the company, and not individuals”.

On the other hand, Gualda has certified that all the companies assisted by the Solvency Support Fund for Strategic Companies are complying with their viability plans and agreed payment schedules, and that there is no deviation that activates the mechanisms provided in the event of non-compliance. .

Asked about his assessment of this rescue fund, Gualda has defended that since its launch in 2020 he has received 73 requests worth 5,392 million euros, developing 30 interventions for 3,255.8 million, 60% of the amount requested.

The intervened companies employ 62,000 people and invoice more than 20,000 million euros each year and, given that these funds allow the maintenance of the activity – the companies would not have been able to maintain their activity without these resources, he said – he celebrates having ” managed to save” this volume of activity and jobs.