Facebook Spain, the organization representing tech giant Meta’s operations in the country, experienced a significant financial change in 2022, according to reports presented in the Spanish Trade Registry and reviewed by the EFE news agency.

During the past yearFacebook Spain recorded a turnover of 65.6 million euros; this figure doubled its revenue compared to the previous year.

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This increase can be attributed to the provision of engineering, marketing and research and development services contracted by the Meta group, in addition to revenue from the resale of advertisements to customers in the Spanish region.

However, this increase in invoices did not benefit the company in 2022. Just the opposite, Facebook Spain reported a loss of 5 million euros last year, with a profit of 2.72 million euros in 2021.

One of the factors contributing to this financial recession was the increase in tax expenditures. The company paid 3.7 million euros in corporate tax in Spain in 2022, an increase of 36% compared to the previous year.

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There was also a negative change in the operating income of the company. It reported a positive balance of 4.9 million euros in 2021, compared to a negative 1.5 million in 2022.

The company’s financial commitment was also reflected in the provisions for trade balances. Throughout the year 2022, Facebook Spain has set aside 878,702 euros for this purpose, compared to 163,121 euros the previous year.

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Operating expenses also increased, especially in relation to office rentals. The company leased space from Pontegadea, the investment company founded by Amancio Ortega, for a total of 2.12 million euros in 2022, versus 1.62 million euros the previous year.

In addition to these financial aspects, the report highlighted a significant increase in the Meta workforce in Spain. The number of employees has tripled compared to 2021, reaching a total of 286 employees. This increase in workforce contributed to a 160% increase in labor costs of €57.3 million in 2022.

In this distribution, approximately Of this, 54 million euros corresponded to salaries and wages, while 3.2 million euros were allocated to social expenditures..

It is important to note that this item also includes compensation of 2.5 million euros from Meta’s parent company, aimed at compensating employees affected by the global workforce reduction plan announced by the technology company in November 2022, which includes the elimination of around 11,000 people. works worldwide.

*This content was prepared based on information from Europa Press with the help of artificial intelligence and was reviewed by the journalist and editor.


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Source: Exame

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