Financial Policy

Our aim is to ensure our financial solvency in order to guarantee the continuity of our businesses and their sustainable development within the framework of our strategy. This will be achieved through the definition of the optimal financial structure, the efficient use of resources, and the appropriate management of financial risks.

Our commitment

Centrally manage our indebtedness, seeking for an optimal level of debt and ensuring the diversity of sources, an appropriate due date structure, and alignment with our sustainable strategy.
Propose a shareholder remuneration that is competitive and consistent with the evolution of the businesses for its approval by our bodies.
Focus financial management on the optimization of profit and efficiency in the use of financial resources, seeking:
- to ensure unity of action towards the market in financial operations themselves, optimizing financing costs and the profitability of liquidity, within the framework of the prudent management of financial risks;
- to support businesses in their operations, advising them on investment or divestment decisions, providing methodological support, and guiding the efficient use of financial resources, the use of working capital, and the general development of the financial activity;
- ensure a unified management of the allocation of financial resources between parent company and subsidiaries, both of intragroup financing and of the issuance of guarantees and sureties by our companies or by other entities on behalf of our companies, in accordance with the degree of influence or control;
- to ensure consistency and reasonableness in the financial commitments and covenants assumed by us in any contract, regardless of its nature;

Manage interaction between us and rating agencies as well as the development of relationships with financial entities, in order to guarantee optimal access to financial and banking products and services.
Identify and manage our financial risks within the established limits, in accordance with internal regulations and market best practices.
Plan our financial needs in order to anticipate access to financial markets under the best possible conditions and ensure the necessary availability of funds, maintaining an optimal level of liquid assets and appropriate risk diversification.
Monitor the performance of the listed shares of our companies and carry out the necessary actions on securities to ensure compliance with the commitments acquired by its management bodies in relation to the company's shares and capital, always acting in accordance with the applicable internal regulations and best market practices and considering the supervisory bodies' recommendations.
Act responsibly in financial markets and stock exchanges, in accordance with the regulatory framework established by said markets and its regulators and supervisory bodies.
Provide information regarding our financial situation and the risks that may affect it in a transparent way, both at the regulatory (public) level and at the management (internal) level.