Criteria Caixa – the investment arm of the Fundació La Caixa – earned 1,910 million last year in 2023, 59% more thanks mainly to the improvement in the results of its investees CaixaBank and Naturgy. In the annual report published today, the company that has its headquarters in Palma has detailed that last year it made “investments in Telefónica for an amount of 81 million euros and divestments in CaixaBank for an amount of 100 million.”
As a result of these two operations, Criteria Caixa’s stake in the CaixaBank bank was reduced from 32.2% to 31.9%. In the case of the operator Telefónica, the participation is 2.6% compared to 2.2% the previous year.
In a statement, the company reported that the board of directors “has commissioned its new CEO, Ángel Simón, to prepare a Strategic Plan for the period 2025-2030 that lays the foundations for this new stage, with the aim of promoting the creation of long-term value to preserve and grow the Foundation’s assets, and protect its social work”. Simón has replaced Marcelino Armenter in the position for a few weeks.
Regarding smaller investments, Criteria reported that in 2023 it continued with the “rotation of companies” through investments worth 194 million and disinvestments worth 213 million. The profit obtained from this activity was 58 million.
In the same statement, the president of Criteria Caixa and the Fundació La Caixa, Isidro Fainé, highlighted that “the good performance of the main investees” boosted the dividends, “which will allow the foundation to have a budget of 600 million euros for social action, the largest in its history.”
