Six Ibex companies receive 420 million in European funds

by Lorraine Williamson

MADRID – Six companies from the selective Ibex 35 have received more than 420 million euros through 54 public contracts from European Next Generation funds. More than 91% of this went to the companies ACS, Telefónica and Indra. 

This bases the fact-checking website Newtral on data from the Contracting Portal. Of the €420 million awarded, 32% belong to contracts negotiated without publicity, in a closed procedure. Moreover, this is where companies are only granted access at the invitation of public administrations. researchers have analysed more than 5,000 contracts funded through these funds through August 24, 2022. Telefónica is the Ibex company that has received the most contracts (26). They are, however, for a smaller amount as they total €90 million. 

On the other hand, ACS has won 9 contracts for €141 million. The analysis includes the contracts awarded to the joint ventures that the Ibex companies have entered into with others that are not. 

Negotiated procedure without publicity 

Nearly a third of the money allocated to the Ibex companies came from contracts that were only accessible at the invitation of governments. These are contracts that follow a negotiated procedure without publicity. Therefore, this means that it will not be published. And, furthermore, that the participating companies have already been invited by the contracting authority of the state administration. In addition, the invited companies can negotiate the terms of the agreement with the contracting authority. 

The largest amounts received by Telefónica and Indra come from contracts negotiated without advertising. In total, both received €122 million through this procedure. 

On the other hand, about 71% correspond to the European funds allocated to Ibex companies through an open procedure. This is a procedure whereby any interested entrepreneur can submit a proposal. 


Adif is the public company that has allocated the most money from the funds to Ibex companies. Moreover, it amounts to a total amount of €202 million. In second place is the Ministry of Foreign Affairs, European Union and Cooperation with €57 million. And in third place the Ministry of Economic Affairs with €48 million. 

Cogesa Expats

ACS and ArcelorMittal are the companies that have received the most money from Adif. In total, they both appear in 16 contracts. On the other hand, Telefónica is the company most often rewarded by contracts of the Ministry of Energy, Tourism and Digital Agenda, with 8 awards. And also in that of the Autonomous Community of Castilla-La Mancha, with 5 awards. 


In terms of the level of competition each company has had when it entered each contract, Ferrovial is, on average, the Ibex company that has had the most competitive in all of its contracts. It competed with up to 11 companies on average. ACS comes in second with an average of 9 companies. 

On the other hand, Iberdrola, Telefónica and Indra were the least competitive. Here, on average no more than 2 companies participated in their awarded contracts. 

Biggest contracts for Indra, Telefónica and ACS 

The largest contract of €69 million went to a joint venture between Indra and Telefónica. The contract has been put out to tender by the Ministry of Economic Affairs and Digital Transformation for the implementation of the Ministry’s Consular Digitization Plan. 

The second largest of €52 million has been awarded to a joint venture between Dragados and Tecsa Empresa Constructora (a subsidiary of the Dragados group), both belonging to the ACS group. This contract was tendered by Adif with a basic budget of €61 million and concerns the standard gauge implementation project between Astigarraga and Irun. 

Type of contract 

Concerning the type of contract, approximately 42% of the money awarded is earmarked for works contracts (€182 million), 33% for services (€12 million) and 23% for supplies (€99 million). asked the ACS Group, Telefónica and Indra about the contracts and their amounts, but none of the three companies declined to comment. 

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