Access to financial reports of SMEs in Spain

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October 31, 2024

by a searcher from IESE Business School in Barcelona, Spain

Hi,

I am initiating in the search fund world and defining my investment thesis. In order to do so, I am trying to get access to financial reports of SMEs in my target sectors (energy, aviation) and geography (Spain).

Does anyone have a recommendation for the best source of data?

Thank you!

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Reply by a searcher
from IESE Business School in Madrid, Spain
Hi Daniel, I am also at a very early stage, but as ^redacted‌ suggests, IBISWorld reports can provide a strong foundational overview, particularly for market size, trends, and industry outlook. For additional insights,, I recommend exploring the following:

1) Instituto Nacional de Estadística (INE): Provides macro data that you can use to evaluate various sectors in Spain (i.e demographics, total companies in a sector, total volume etc)

2) Industry Associations: Key publications and reports from relevant industry bodies (e.g., Asociación Española de la Industria Eléctrica for energy, or Asociación Española de Compañías Aéreas for aviation) often offer granular insights into sector-specific dynamics.

3) Consulting Firm Publications: Reports from firms like PwC, McKinsey, or Deloitte are often helpful for accessing industry forecasts and identifying emerging trends or challenges within these sectors.

4) SABI - in Sabi you will find all the financial data from the companies in Spain and Portugal. Although it is not free, you can check whether your university has it in its databases (I still use the one for free that my University has, and I graduated 13 years ago).

This is what I am doing, but for sure other Spanish searchers have good ideas to complement mines.


Thank you
commentor profile
Reply by a searcher
from IESE Business School in Madrid, España
If SME financial reports is what you want, then SABI or similar platforms are what you need to get. If you’re still in IESE you should be able to use it freely although, as soon as you graduate, you'll lose the membership (happened to me!)

good luck with the search!
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