Editor’s Note
This article highlights a key finding from Brand Finance’s latest GIFT™ report, showing a 7% growth in the value of intangible assets for Spanish companies in 2023, now representing 36% of their total value.
According to the latest Global Intangible Finance Tracker (GIFT™) report from Brand Finance, the leading independent intangible asset valuation consultancy, the value of intangible assets in Spain grew by 7% in 2023. The percentage of intangible assets for Spanish companies has now reached 36%.
Each year, Brand Finance’s Global Intangible Finance Tracker (GIFT™) report tracks the value of the world’s largest companies based on their intangible asset value. Intangible assets are identifiable, non-monetary assets without physical substance.
The GIFT™ report examines the value of these intangible assets in publicly listed companies worldwide. In a retrospective analysis of recent decades, an interesting evolution in the value of intangible assets in Spain is observed.
In 2023, we witnessed an increase in intangible value, reaching 36%. This increase marks an important milestone, surpassing last year’s figure (29%) and recovering to pre-Covid-19 pandemic levels.
Pilar Alonso Ulloa, Managing Director Iberia (Spain, Portugal) and South America, made this statement.
Investment in innovation and technological development is another key factor. The leading sectors in intangible assets are Internet and Software, followed by Leisure, Tourism and Gaming, and Fashion (which includes Watches and Jewelry).
Ángel Alloza, CEO of Corporate Excellence – Centre for Reputation Leadership, a business think tank and strategic partner of Brand Finance and a leader in applied innovation, training, and knowledge in reputation and brand, highlighted this point.
Regarding the absolute value of intangible assets compared to enterprise value, the most prominent sectors are Fashion, Energy, and Telecommunications.
The Fashion sector has seen an astonishing 84.3% increase in its intangible value, driven by growing demand for high-quality items and increased brand perception. This reflects a significant appreciation for craftsmanship and creativity in this sector.
The Energy sector has experienced a 28% decrease, possibly due to the transition towards cleaner energy sources and regulatory pressures related to sustainability.
Telecommunications, the third sector in intangible value, has experienced a 6% decline, likely due to fierce market competition and infrastructure investments. Constant competition influences these changes in intangible value.
INDITEX leads in intangible value in Spain with USD 95.029 billion, representing 81% of its enterprise value.
Iberdrola occupies second place in intangible value with USD 47.046 billion, representing 35% of its enterprise value, thanks to its focus on energy and sustainability.
Cellnex ranks third with USD 36.672 billion in intangible value, constituting 80% of its enterprise value. Its leadership in Spain’s Telecommunications sector highlights the importance of telecommunications infrastructure in today’s society. Operations such as the one closed between Cellnex and CK Hutchison in the UK this year have increased the value of disclosed intangible assets in Spain. These three companies, along with others in the top 10, represent 88% of the total intangible value in Spain, a result of their investments in brands, intellectual property, technology, and human capital to strengthen their market position.
Mexico is the only country in Latin America where intangible assets are growing.
Global intangible asset value is recovering ground after a sharp fall.