The fire safety industry in Spain brings together 900 companies
The number of fire safety companies still stands at 900 companies with more than 20 workers employing 18,000 people, according to TECNIFUEGO, which also reports that the industry closed 2022 with an 8% increase in turnover.
TECNIFUEGO, the Spanish Association of Fire Protection Companies, reports a recovery in the fire safety industry compared to the last two years when it was badly affected by the pandemic. During 2022, the total turnover has increased by 8% to EUR 2,688 million. However, it has not yet reached the pre-health crisis figures (€2,781 million in 2019).
This recovery has led to an improvement in the financial position of companies, although, according to some metrics, levels of corporate vulnerability still remain above those observed before the start of the pandemic.
General uncertainty
Consequently, the upward trend did not take off as expected due to the general uncertainty and the evolution of energy, transport and raw material costs, as well as the war in Ukraine, which has dampened expectations and investment projects in the sector.
Among other negative factors in the last quarter of 2022, the industry highlights higher interest rates, higher energy costs going forward, lower external demand and a more depreciated euro, which will affect demand and exports during 2023.