After all our trials and tribulations with Telefónica, I’ve just read in the Spanish Press that the Spanish telephone company made a massive 10,000 million euro profit last year, the top earning company on the Spanish stock market! High time they invested some of that cash in speeding up their service, employing higher quality staff and in training them properly.

Last week Telefonica announced profits of 10,167 million euros in 2010, 30.8% up on the previous year. Not only that, other Spanish companies renowned for their incompetence and poor customer service, were also very successful financially and feature in the top five highest-earning Spanish companies. These include the electricity suppliers Endesa and Iberdrola and two banks, Santander and BBVA.

Endesa, the bane of many of our lives down here in Andalucía, reported a profit of 4,129 million euros in 2010, up 20% on the year before. Hardly surprising when they charge 50 euros for a boletín and 30 euros to change the name on an account! After the 9% hike in electricity prices in January, presumably they’ll be even more profitable in 2011.

© Paul Whitelock

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Tags:  Telefónica, telephone, Endesa, Iberdrola, electricity, bank, Santander, BBVA, paul whitelock, www.a1-solutions-spain.com