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The companies that are leaving Catalonia

Six out of seven Ibex companies are moving their HQ to other cities due to the secessionist challenge

Empresas que se van de Cataluña
The Gas Natural headquarters in Barcelona AFP

Fears of an imminent unilateral declaration of independence in Catalonia have triggered a corporate flight to other parts of Spain. Nearly 30 businesses that were based in Barcelona are taking their headquarters elsewhere.

Six out of the seven Catalan companies listed on the blue-chip Ibex index have already informed the securities watchdog, the CNMV, that their boards have approved the change of corporate address. Twenty other large and medium companies from various sectors have made the same decision. And several others are waiting to see what happens on Tuesday to make a decision.

The following is a detailed list of the companies that are moving out of Catalonia:

CAIXABANK (to Valencia)

Market capitalization: €24.8 billion
Income (2016): €6.8 billion
Net profit (2016): €1.05 billion
32,403 employees

GAS NATURAL (to Madrid)

Market capitalization: €18.5 billion
Income (2016): €23.9 billion
Net profit (2016): €1.34 billion
20,000 employees

ABERTIS (to Madrid)

Market capitalization: €17.07 billion
Income (2016): €4.75 billion
Net profit (2016): €795.6 million
17,000 employees

BANCO SABADELL (to Alicante)

Market capitalization: €9.5 billion
Income (2016): €5.2 billion
Net profit (2016): €710.4 million
17,000 employees

CELLNEX (to Madrid)

Market capitalization: €4.4 billion
Income (2016): €670.4 million
Net profit (2016): €39.8 million
11 employees

INMOBILIARIA COLONIAL (to Madrid)

Market capitalization: €3.06 billion
Income (2016): €835.2 million
Net profit (2016): €274 million
70 employees

Alternative Market Companies:

LLEIDA.NET (to Madrid)

This company, which specializes in certifying online communications to make them official, is moving its registered HQ to “reduce the risks outside normal company operations.” Lleida.net operates in 16 countries and provides services to over 1,500 companies. Officials said that the change of corporate address will not mean that employees have to move.

EURONA (to Rivas Vaciamadrid)

The telecoms company explained that it had been mulling this change for a year, ever since it acquired Quantis, Hablaya, Stoneworks and Sultán Telecom, all of which have their own HQ in Madrid. Nearly 80% of its business comes from these divisions.

Other companies

Aguas de Barcelona (to Madrid). Fully controlled by the Spanish subsidiary of French multinational Suez Environment, which already moved its registered corporate headquarters from Barcelona to Madrid in late 2015.

Torraspapel (to Madrid). A unit of the Lecta Group, the paper-maker and distributor has five factories in Spain, with a turnover of €766 million in 2016 and a workforce of more than 1,900 employees.

Banking

Criteria Caixa (to Palma)

Banco Mediolanum (to Valencia)

Arquia Banca (to Madrid)

GVC Gaesco Beka (to Madrid)

Trea Asset Management (to Madrid)

Insurance

SegurCaixa Adeslas (to Madrid). It has a market share of 25%

MGS Seguros (to Zaragoza)

Health

Oryzon (to Madrid)

Naturhouse (to Madrid). Announced in August.

Proclinic Expert (to Zaragoza)

DVD Dental (to Madrid)

Klockner (to Madrid)

Delivery

MRW (to Valencia)

Reprography

Service Point (to Madrid).

Fuel

Ballenoil (to Alcobendas, Madrid).

Textile

Dogi (to Madrid).

Subsidiaries

Cervecera San Miguel S.L., the only Catalan subsidiary of the brewer Mahou San Miguel (to Málaga)

Pesa, subsidiary of the Galician construction group Copasa (to Santiago de Compostela)

Under consideration (if a unilateral declaration of independence is made)

Freixenet

Codorniu

Renta Corporación

Catalana Occidente

Idilia Foods (Colacao, Nocilla…)

Grupo Planeta

More information