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ESBRAND 2011




   TOP 100
SPANISH BRANDS




    | EsBrand 2011 | TOP Spanish Brands |   |1|
About the EsBrand


Regardless the globalization, every country always has its own national brands that sometimes could
be much stronger and more popular inside the country, that well known international brands.

Today the brand is often the biggest and very valuable assets, because the very strong and popular
brand regardless of its scale and age allows the company to retain or to gain significant market share,
and also provides an opportunity to actively develop at the global markets.

In our times the business are increasingly faced the situation when the brand becomes one of the
most expensive assets in the company's value, even compared with manufacturing facilities. And in
such a situation, the most attention is paid to the brand value in mergers and acquisitions, as well as
in public offerings of shares on stock markets or placing other types of securities in order to attract
investment. In this case It is necessary to solve the puzzle, when the company realizes the full value
of its brand, but can not express it in concrete figures.

After many researches, the optimal solution was found, and since early 2010, the agency MPP
Consulting has established long-term project of the national brands evaluation. Using the developed
methodology in 2011 the rating of the most valuable brands of Spain was created.

The main task of the rating EsBrand 2011 was to determine the 100 most expensive Spanish brands,
as well as their current real market value, based on the financial performance of companies using
such brands (trademarks), as well as the positions of each company in the market and prospects for
development both companies and their brands.

It is worth noting that the ranking only includes brands created in Spain or for Spanish goods
(services), although how much later they became known at national or global levels. The geographical
origin of brands from Spain was the main criterion for selection of brands (trademarks), assessed in
rating.




* All rights to brands and trademarks mentioned or referred to in the ranting belong to their respective owners.




                                              | EsBrand 2011 | TOP Spanish Brands |                                |2|
Methodology


The methodology of the brand evaluation based on the evaluation of activity of companies brand-
owners, and also takes into account several factors showing the market conditions that influence the
brands, possible threats and perspectives for industries development.

This methodology is based on analysis of factors influencing the market value of the brand: the
company's position on market, consumer value of brand, as well as factors actual trends for the
company and its brand.

Brand value calculation formula:


    V = Fc * (Iq * Gq * Tq * Cq) * Uid

 V – brand value
 Fc – composite financial index
 Iq – investment index
 Gq – geographical index
 Tq – technological index
 Cq - competitive index
 Uid – unique identity index


It is worth noting that the brand value includes only the cost of the brand (name), excluding production
facilities, infrastructure, patents, inventions and other tangible or intellectual property.


* Value of Brands in rating indicated in millions $




                                               | EsBrand 2011 | TOP Spanish Brands |                |3|
TOP 100         1 - 20

     Brand              Value, mln.$               Logo                             Industry

1    Zara                 14 551                                        Clothing & Fashion

2    Movistar             11 448                                        Telecommunication

3    Santander             7 573                                        Financial services

4    Telefónica            6 150                                        Telecommunication

5    BBVA                  2 770                                        Financial services

6    Repsol                2 410                                        Energy

7    Estrella Damm         1 482                                        Brewing

8    MANGO                 1 350                                        Clothing & Fashion

9    la Caixa              1 327                                        Financial services

10   Mirinda               1 020                                        Beverages

11   Chupa Chups           1 001                                        Confectionary

12   Banco Popular          965                                         Financial services

13   El Corte Inglés        903                                         Retail

14   SEAT                   790                                         Automotive

15   Gallina Blanca         634                                         Foods

16   Mahou                  625                                         Brewing

17   Mercadona              600                                         Retail

18   Rio Tinto              593                                         Mining

19   Eroski                 508                                         Retail

20   San Miguel             493                                         Brewing




                                | EsBrand 2011 | TOP Spanish Brands |                          |4|
TOP 100        21 - 40

     Brand             Value, mln.$             Logo                             Industry

21   Mapfre                416                                       Insurance

22   Damm                  331                                       Brewing

23   Panda                 320                                       Software

24   Caja Madrid           302                                       Financial services

25   Endesa                299                                       Energy

26   Banesto               297                                       Financial services

27   Freixenet             291                                       Alcohol

28   Banco Sabadell        280                                       Financial services

29   Telepizza             277                                       HoReCa

30   Festina               263                                       Clothing & Fashion

31   Panoramio             262                                       Internet

32   Bertolli              258                                       Foods

33   El Pais               250                                       Media

34   Campofrío             248                                       Foods

35   Felix Solis           241                                       Foods

36   Cola Cao              235                                       Beverages

37   Leche Pascual         229                                       Foods

38   Loewe                 226                                       Clothing & Fashion

39   Smint                 219                                       Confectionary

40   Osborne               216                                       Alcohol




                             | EsBrand 2011 | TOP Spanish Brands |                          |5|
TOP 100       41 - 60

     Brand            Value, mln.$             Logo                             Industry

41   Moritz               213                                       Brewing

42   Massimo Dutti        204                                       Clothing & Fashion

43   Torres               203                                       Alcohol

44   FC Barcelona         202                                       Sport

45   Bershka              201                                       Clothing & Fashion

46   Lacasa               198                                       Confectionary

47   Borges               194                                       Foods

48   Bancaja              188                                       Financial services

49   Real Madrid          186                                       Sport

50   Tous                 178                                       Clothing & Fashion

51   Yoigo                177                                       Telecommunication

52   La Lechera           175                                       Foods

53   Dia                  173                                       Retail

54   Fagor                158                                       Household equipment

55   Lladró               152                                       Furniture

56   Revilla              144                                       Foods

57   Oscar Mayer          143                                       Foods

58   Carbonell            135                                       Foods

59   Cinco Jotas          133                                       Foods

60   Valdamor             132                                       Alcohol




                            | EsBrand 2011 | TOP Spanish Brands |                          |6|
TOP 100           61 - 80

     Brand                Value, mln.$             Logo                             Industry

61   Springfield              126                                       Clothing & Fashion

62   Xibeca                   117                                       Brewing

63   Bankinter                115                                       Financial services

64   Caprabo                  114                                       Retail

65   Oysho                    112                                       Clothing & Fashion

66   Barbadillo               111                                       Alcohol

67   Calvo                    110                                       Foods

68   Cinfa                    109                                       Pharmacy

69   Joma                     108                                       Clothing & Fashion

70   Carrera y Carrera        107                                       Clothing & Fashion

71   Iberia                   106                                       Transport

72   Roca                     105                                       Construction materials

73   Acciona                  104                                       Energy

74   La Casera                103                                       Beverages

75   Hipercor                 102                                       Retail

76   Prosegur                 101                                       Security

77   Armand Basi              100                                       Cosmetics

78   Televes                  99                                        Telecommunication

79   Navidul                  98                                        Foods

80   Camper                   97                                        Clothing & Fashion




                                | EsBrand 2011 | TOP Spanish Brands |                            |7|
TOP 100       81 - 100

      Brand            Value, mln.$             Logo                              Industry

81    Gallo                96                                        Foods

82    Iberdrola            95                                        Energy

83    Nocilla              94                                        Foods

84    Renfe                93                                        Travelling

85    Correos              92                                        Logistics

86    Santiveri            91                                        Foods

87    Pescanova            90                                        Foods

88    Puleva               89                                        Foods

89    NH                   88                                        HoReCa

90    Licor 43             87                                        Foods

91    Font d'Or            86                                        Foods

92    Goya                 85                                        Foods

93    Valderrama           84                                        Foods

94    Raimat               83                                        Alcohol

95    Cortefeil            82                                        Clothing & Fashion

96    Cuatro               81                                        Media

97    Cuetara              80                                        Foods

98    La Piara             79                                        Foods

99    Vichy Catalan        78                                        Foods

100   Amadeus              77                                        Software




                             | EsBrand 2011 | TOP Spanish Brands |                           |8|
Conclusions


The rating EsBrand 2011 is the 14-th rating in 2011 published under the project TOP National Brands.

The issue of defining the most expensive national brands is not new, and consist not only in the
complexity of the assessment, but in the presence of a single methodology that would unify the
approach to this process regardless of the regional characteristics of individual countries.

That is why the primarily goal was to create a single universal methodology to assess the brands that
can be used to determine the real market value of any brand in any market.

Process of developing the methodology was started in 2006 and only four years later she was finally
worked out in practice and has shown its real effectiveness. Thus, the use of this rating method of
evaluation reflects most accurately the elements forming the current market value of each brand, and
allows us to create the rating of the most expensive national brands in a single country.

We hope that this rating, as well as an evaluation technique will be in demand by companies and
investors, and help more accurately and quickly determine the current real market value of each
brand.


MPP Consulting
Kiev, Ukraine
+380 44 3614647

www.mppconsulting.com.ua
office@mppconsulting.com.ua




                                     | EsBrand 2011 | TOP Spanish Brands |                         |9|

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EsBrand 2011 - TOP100 Spanish Brands

  • 1. ESBRAND 2011 TOP 100 SPANISH BRANDS | EsBrand 2011 | TOP Spanish Brands | |1|
  • 2. About the EsBrand Regardless the globalization, every country always has its own national brands that sometimes could be much stronger and more popular inside the country, that well known international brands. Today the brand is often the biggest and very valuable assets, because the very strong and popular brand regardless of its scale and age allows the company to retain or to gain significant market share, and also provides an opportunity to actively develop at the global markets. In our times the business are increasingly faced the situation when the brand becomes one of the most expensive assets in the company's value, even compared with manufacturing facilities. And in such a situation, the most attention is paid to the brand value in mergers and acquisitions, as well as in public offerings of shares on stock markets or placing other types of securities in order to attract investment. In this case It is necessary to solve the puzzle, when the company realizes the full value of its brand, but can not express it in concrete figures. After many researches, the optimal solution was found, and since early 2010, the agency MPP Consulting has established long-term project of the national brands evaluation. Using the developed methodology in 2011 the rating of the most valuable brands of Spain was created. The main task of the rating EsBrand 2011 was to determine the 100 most expensive Spanish brands, as well as their current real market value, based on the financial performance of companies using such brands (trademarks), as well as the positions of each company in the market and prospects for development both companies and their brands. It is worth noting that the ranking only includes brands created in Spain or for Spanish goods (services), although how much later they became known at national or global levels. The geographical origin of brands from Spain was the main criterion for selection of brands (trademarks), assessed in rating. * All rights to brands and trademarks mentioned or referred to in the ranting belong to their respective owners. | EsBrand 2011 | TOP Spanish Brands | |2|
  • 3. Methodology The methodology of the brand evaluation based on the evaluation of activity of companies brand- owners, and also takes into account several factors showing the market conditions that influence the brands, possible threats and perspectives for industries development. This methodology is based on analysis of factors influencing the market value of the brand: the company's position on market, consumer value of brand, as well as factors actual trends for the company and its brand. Brand value calculation formula: V = Fc * (Iq * Gq * Tq * Cq) * Uid V – brand value Fc – composite financial index Iq – investment index Gq – geographical index Tq – technological index Cq - competitive index Uid – unique identity index It is worth noting that the brand value includes only the cost of the brand (name), excluding production facilities, infrastructure, patents, inventions and other tangible or intellectual property. * Value of Brands in rating indicated in millions $ | EsBrand 2011 | TOP Spanish Brands | |3|
  • 4. TOP 100 1 - 20 Brand Value, mln.$ Logo Industry 1 Zara 14 551 Clothing & Fashion 2 Movistar 11 448 Telecommunication 3 Santander 7 573 Financial services 4 Telefónica 6 150 Telecommunication 5 BBVA 2 770 Financial services 6 Repsol 2 410 Energy 7 Estrella Damm 1 482 Brewing 8 MANGO 1 350 Clothing & Fashion 9 la Caixa 1 327 Financial services 10 Mirinda 1 020 Beverages 11 Chupa Chups 1 001 Confectionary 12 Banco Popular 965 Financial services 13 El Corte Inglés 903 Retail 14 SEAT 790 Automotive 15 Gallina Blanca 634 Foods 16 Mahou 625 Brewing 17 Mercadona 600 Retail 18 Rio Tinto 593 Mining 19 Eroski 508 Retail 20 San Miguel 493 Brewing | EsBrand 2011 | TOP Spanish Brands | |4|
  • 5. TOP 100 21 - 40 Brand Value, mln.$ Logo Industry 21 Mapfre 416 Insurance 22 Damm 331 Brewing 23 Panda 320 Software 24 Caja Madrid 302 Financial services 25 Endesa 299 Energy 26 Banesto 297 Financial services 27 Freixenet 291 Alcohol 28 Banco Sabadell 280 Financial services 29 Telepizza 277 HoReCa 30 Festina 263 Clothing & Fashion 31 Panoramio 262 Internet 32 Bertolli 258 Foods 33 El Pais 250 Media 34 Campofrío 248 Foods 35 Felix Solis 241 Foods 36 Cola Cao 235 Beverages 37 Leche Pascual 229 Foods 38 Loewe 226 Clothing & Fashion 39 Smint 219 Confectionary 40 Osborne 216 Alcohol | EsBrand 2011 | TOP Spanish Brands | |5|
  • 6. TOP 100 41 - 60 Brand Value, mln.$ Logo Industry 41 Moritz 213 Brewing 42 Massimo Dutti 204 Clothing & Fashion 43 Torres 203 Alcohol 44 FC Barcelona 202 Sport 45 Bershka 201 Clothing & Fashion 46 Lacasa 198 Confectionary 47 Borges 194 Foods 48 Bancaja 188 Financial services 49 Real Madrid 186 Sport 50 Tous 178 Clothing & Fashion 51 Yoigo 177 Telecommunication 52 La Lechera 175 Foods 53 Dia 173 Retail 54 Fagor 158 Household equipment 55 Lladró 152 Furniture 56 Revilla 144 Foods 57 Oscar Mayer 143 Foods 58 Carbonell 135 Foods 59 Cinco Jotas 133 Foods 60 Valdamor 132 Alcohol | EsBrand 2011 | TOP Spanish Brands | |6|
  • 7. TOP 100 61 - 80 Brand Value, mln.$ Logo Industry 61 Springfield 126 Clothing & Fashion 62 Xibeca 117 Brewing 63 Bankinter 115 Financial services 64 Caprabo 114 Retail 65 Oysho 112 Clothing & Fashion 66 Barbadillo 111 Alcohol 67 Calvo 110 Foods 68 Cinfa 109 Pharmacy 69 Joma 108 Clothing & Fashion 70 Carrera y Carrera 107 Clothing & Fashion 71 Iberia 106 Transport 72 Roca 105 Construction materials 73 Acciona 104 Energy 74 La Casera 103 Beverages 75 Hipercor 102 Retail 76 Prosegur 101 Security 77 Armand Basi 100 Cosmetics 78 Televes 99 Telecommunication 79 Navidul 98 Foods 80 Camper 97 Clothing & Fashion | EsBrand 2011 | TOP Spanish Brands | |7|
  • 8. TOP 100 81 - 100 Brand Value, mln.$ Logo Industry 81 Gallo 96 Foods 82 Iberdrola 95 Energy 83 Nocilla 94 Foods 84 Renfe 93 Travelling 85 Correos 92 Logistics 86 Santiveri 91 Foods 87 Pescanova 90 Foods 88 Puleva 89 Foods 89 NH 88 HoReCa 90 Licor 43 87 Foods 91 Font d'Or 86 Foods 92 Goya 85 Foods 93 Valderrama 84 Foods 94 Raimat 83 Alcohol 95 Cortefeil 82 Clothing & Fashion 96 Cuatro 81 Media 97 Cuetara 80 Foods 98 La Piara 79 Foods 99 Vichy Catalan 78 Foods 100 Amadeus 77 Software | EsBrand 2011 | TOP Spanish Brands | |8|
  • 9. Conclusions The rating EsBrand 2011 is the 14-th rating in 2011 published under the project TOP National Brands. The issue of defining the most expensive national brands is not new, and consist not only in the complexity of the assessment, but in the presence of a single methodology that would unify the approach to this process regardless of the regional characteristics of individual countries. That is why the primarily goal was to create a single universal methodology to assess the brands that can be used to determine the real market value of any brand in any market. Process of developing the methodology was started in 2006 and only four years later she was finally worked out in practice and has shown its real effectiveness. Thus, the use of this rating method of evaluation reflects most accurately the elements forming the current market value of each brand, and allows us to create the rating of the most expensive national brands in a single country. We hope that this rating, as well as an evaluation technique will be in demand by companies and investors, and help more accurately and quickly determine the current real market value of each brand. MPP Consulting Kiev, Ukraine +380 44 3614647 www.mppconsulting.com.ua office@mppconsulting.com.ua | EsBrand 2011 | TOP Spanish Brands | |9|