Facebook Spain multiplies its losses by more than seven in 2023, up to 36.4 million

The number of employees at the end of 2023 decreased from 286 to 230

September 2 () –

Facebook Spain recorded losses of 36.37 million euros in 2023, which is more than seven times higher (+642.2%) than the 4.97 million euros in the previous year, although its net worth increased by almost 30% to 42 million euros.

In addition, Meta’s Spanish subsidiary increased its net turnover by 30.5% in the period between January and December 2023, to 85.61 million euros, according to the accounts of the Commercial Registry provided by Infoempresa to Europa Press.

The company recorded a negative operating profit of €30.47 million last year, compared to a loss of €1.54 million in 2022.

In addition, the firm increased its personnel expenses by 76.7%, from 57.26 million euros in 2022 to 101.19 million euros in 2023, although the number of employees at the close of the year decreased from 286 to 230.

The company has announced that it does not expect any “significant” changes for this year, while stating that no events have occurred since the end of the year until the date of preparation of these annual accounts that affect or could affect these results “significantly”.

During 2023, the company acted as an advertising reseller for designated Spanish clients and provided sales, marketing and engineering support services for the Meta group, the owner of Facebook, WhatsApp and Instagram, which obtained a net profit of 13,465 million dollars (12,485 million euros) in the second quarter of 2024, 72.9% more than in the same period of the previous year.