Google Spain made a profit of 63.4 million euros in 2023, representing an increase of 21.2% compared to the profits of 52.3 million recorded a year earlier, at the same time as it increased its net worth by more than 33%, to 224.4 million euros.
In addition, the company increased its net turnover by 10.8% between January and December 2023, to 290.5 million euros, according to the commercial registry accounts provided by Infoempresa to Europa Press.
The company explained that the revenue growth “is attributable to increased demand for the company’s services.”
Google Spain recorded an operating profit of 80.1 million last year, more than 15.3% more than the 69.5 million obtained in 2022.
Furthermore, the company increased its personnel expenses by 17.1%, from 128.9 million euros in 2022 to 150.9 million euros in 2023, while the number of employees at closing increased from 580 to 561.
Regarding business prospects, the Company has no plans or intentions to restructure, reorganize or dispose of assets other than those reflected in these financial statements.
On the other hand, the company earned 4.36 million euros for the rental of the Torre Picasso in Madrid, owned by Pontegadea, the real estate company of Amancio Ortega, where it has its headquarters in Spain, whose contract expires on December 31.
Google Spain highlighted that its core business is to assist the regional operating company for Europe, Africa and the Middle East (EMEA), Google Ireland Limited and Google Cloud EMEA Limited in marketing and customer support activities for the company’s products in Spain.
Facebook: losses of 36.37 million
Facebook Spain recorded losses of 36.37 million euros in 2023, which means multiplying by more than seven (+642.2%) the “red figures” of 4.97 million euros recorded the previous year, even if its net worth increased by almost 30%, up to 42 million euros.
In addition, Meta’s Spanish subsidiary increased its net turnover by 30.5% between January and December 2023, to 85.61 million euros, according to the commercial registry accounts provided by Infoempresa to Europa Press.
The company recorded a negative operating result of 30.47 million last year, compared to the “red figures” of 1.54 million obtained in 2022.
Furthermore, the company increased its personnel expenses by 76.7%, from 57.26 million euros in 2022 to 101.19 million euros in 2023, even though the number of employees at the closing decreased from 286 to 230.
The company said it does not expect “significant” changes for this year, while specifying that since the end of the financial year until the date of preparation of these annual accounts, no event has occurred which affects or could affect in a “significant” way these results.
During 2023, the company acted as a reseller of advertising to designated Spanish clients and commercial, marketing and engineering support services for the Meta Group, owner of Facebook, WhatsApp and Instagram, which obtained a net profit of 13.465 million dollars (12.485 million euros) in the second quarter of 2024, 72.9% more than in the same period of the previous year.
