Viscofan, Endesa, Aena to Weather The ES Market Storm

When markets turn rough, experienced investors don’t panic — they fish for opportunity. Global equities are under pressure, but some Spanish firms like Viscofan [VIS.E], Endesa [ELE.E] and Aena [AENA.E] may offer some shelter amid the storm.

The IBEX 35 was the best-performing major European Union (EU) index in early 2025, rising 10.3% through 11 February. This strong start reflected growing investor confidence in Spanish equities, before global sentiment soured and markets broadly turned lower in past weeks.

As of this morning, Asian shares have been tumbling, with Japan’s Nikkei 225 down 7.68%, and Hong Kong’s Hang Seng sliding nearly 10%. Trade war fears are driving steep global market declines as Europe braces for possible retaliation ahead of today’s EU trade meeting. (Source: DW)

Amid the storm, investors seek shelter in defensive sectors like food, energy, and airports. n Spain, that means Viscofan, Endesa and Aena.

Viscofan: Meat Casings For Volatile Times

Viscofan, a global leader in the production and distribution of meat casings, has delivered consistent growth over the past five years, with shares up by around 28%. Shares traded at  EUR 64.6 as of this morning.

The company recently posted an all-time high net profit of 157 million EUR  in 2024, up 11.4% from 2023. That marked another step in a steady climb, with net income rising consistently from 106 million EUR in 2019.

Looking to 2025, Viscofan is expected to post record results, with growth across revenue, EBITDA, and net profit. 

Endesa Powers Ahead Despite Market Pressure

Endesa entered 2025 with strong momentum, climbing 12.5% year to date before losing some ground in the recent market pullback. 

In 2024, the company reported a net profit of 1.89 billion EUR, a 154% jump from the 742 million EUR earned the previous year. 

Backing this optimism is Endesa’s new strategic plan for 2025 to 2027, which outlines the addition of 84 gigawatts of renewable energy capacity as it aligns with Europe’s energy transition goals.

In the document, it is planning gross investments of 9.6 billion EUR up to 2027.

Aena Gains Altitude on Tourism Surge

Aena shares have risen 16.4% over the past year. The airport operator posted a net profit of 1.93 billion EUR in 2024, up 18.6 percent from the 1.63 billion EUR reported a year earlier.

The firm’s strong performance was driven largely by a 9.2% increase in passenger traffic across its Spanish airport network, which accounts for the bulk of its revenue. Aena also manages London Luton and several airports in Brazil, but its core earnings are tied to Spain.

That trend shows no signs of slowing. Spain welcomed 94 million international tourists in 2024, and the World Travel & Tourism Council (WTTC) expects the figure could hit 100 million this year.

Conclusion

As global markets continue to reel from trade tensions and renewed volatility, some Spanish companies stand out for their defensive positioning. Viscofan, Endesa, and Aena have posted strong 2024 results and operate in sectors where demand tends to hold firm even in uncertain times.

Their market exposure is largely domestic, which may help cushion external shocks. While no stock is immune, these three offer a degree of stability that’s becoming harder to find. How they perform from here will depend on how long the current market headwinds persist.

*Past performance does not reflect future results.