About the participating experts, the COMPANIES and their SPEAKERS
Ebury is a financial services company specializing in international payments and foreign exchange risk management. It offers solutions for companies operating globally, enabling them to conduct transactions in more than 130 currencies, manage their exposure to market volatility, and access trade financing more efficiently than through traditional banking. Ramiro Núñez-Villaveirán He is Ebury's Dealing Manager. He has extensive experience in the financial sector, specializing in foreign exchange management and the design of hedging strategies for companies with international operations. His role focuses on advising clients to minimize their exposure to market volatility and optimize their payment flows.
Moneycorp is a global company specializing in foreign exchange and international payments. It offers businesses and individuals a wide range of financial services, including currency exchange, international transfers, and foreign exchange risk management strategies to protect against market volatility, operating as an alternative to traditional banking services. Sergio Sastre Pacheco is Head of Dealing at MoneycorpAs an expert in financial and foreign exchange markets, he leads the team that advises companies on managing their foreign exchange risks. He brings in-depth knowledge of hedging instruments and technological solutions that enable SMEs to protect their margins and compete in the global marketplace.
WEBINAR SUMMARY
To mark the 25th anniversary of Empresa Exterior, which coincides with the first 25 years of the XNUMXst century, the webinar was held “Essential Strategies for Financial Stability in Foreign Trade”The event analyzed the milestones and challenges of Spanish internationalization and offered key tips for companies, especially SMEs, to protect themselves from volatility in the currency markets. The event was moderated by Raquel Ibáñez and featured two leading industry experts.
How do you assess the first 25 years of the XNUMXst century for the internationalization of Spanish companies?
Sergio Sastre Pacheco: We have seen a qualitative and quantitative leapWe went from being an economy focused on the domestic market to a purely export-oriented country. The main milestone has been the ability of companies to adapt to challenges such as monetary integration, the 2008 crisis, and the pandemic. Today, we see greater diversification of destinations beyond the European Union. The challenge remains. increase the base of exporting companies and consolidate SMEs in higher value-added markets.
Ramiro Núñez-Villaveirán: I agree, globalization has forced companies to improve their processes in order to compete internationally. Furthermore, we've noticed a very positive change in the human factor: CFOs now have a much deeper understanding of foreign exchange products and markets. This greatly facilitates collaboration and allows us to design much more sophisticated and effective strategies for them.
With the current geopolitical and monetary instability, what currency risks affect companies the most, and what mistakes should they avoid?
Ramiro Núñez-Villaveirán: Geopolitical instability and central bank decisions are completely interconnected. The main mistake companies must avoid is making decisions based on panic or the euphoria of the moment. Decisions must be thoughtful and advisedThe objective of hedging should never be to speculate to make money, but rather protect trading margins of the company, which is where its business really lies. You have to avoid regretting a bad decision made on impulse.
Sergio Sastre Pacheco: Exactly, the main risk is the volatility this instability generates. An adverse movement in the exchange rate can completely wipe out the profit margin of an export or import transaction. The most common mistake is inaction: doing nothing and leaving international flows exposed to the whims of the market, thinking, "This doesn't affect me" or "Nothing ever happens." When the market moves against you, it's already too late.
What types of hedging instruments are most accessible and effective for SMEs?
Sergio Sastre Pacheco: For an SME, the simplest, most accessible and most economical instrument is the Insurance Exchange. It allows you to set an exchange rate for a future transaction, eliminating uncertainty. If a company buys in dollars to be paid in 90 days, it can lock in the price today and forget about whether the euro rises or falls. It's a flexible product that can be anticipated or extended. Although other more complex products exist, this is the ideal starting point for protecting margins without taking on additional risks.
Ramiro Núñez-Villaveirán: Exchange insurance or forward It's essential. Beyond the specific instrument, what matters is the philosophy: the goal is for the company not to lose money on foreign currency. It's about sitting down with the client, understanding their flows, their margins, and establishing a budget. From there, exchange rate insurance is used to ensure that this budget is met and that the commercial margin is always protected.
How can a company identify when it is best to hedge its exposure?
Ramiro Núñez-Villaveirán: That's the million-dollar question, and the answer is that you can't predict the market. The ideal moment doesn't exist. Therefore, it's not about being right, but about being systematic. The best strategy is to establish a hedging policy within the company, for example, "hedging 50% of all transactions for three months." This way, you mitigate risk, secure an average exchange rate, and, above all, focus on your core business without having to be an expert in market forecasting.
How are technological solutions evolving and what opportunities do they open for SMEs?
Sergio Sastre Pacheco: The evolution has been abysmal. We've gone from having to call a bank to being able to contract transactions 24/7 through online platforms. Digitalization has enabled the democratization of access to financial marketsToday, SMEs can manage payments, open foreign currency accounts, and purchase hedging quickly, securely, and with complete autonomy, accessing up-to-date information to make much more agile decisions.
Ramiro Núñez-Villaveirán: Technology is key and has been our mainstay. However, at Ebury we believe that technology alone is not enough. Our added value is combining a powerful platform with the humane and close treatmentTechnology executes, but it's a specialist who advises you, helps you design the strategy, and supports you every step of the way. This combination is what truly empowers and gives security to the SME.
In a market dominated by banks, what have been your competitive advantages?
Ramiro Núñez-Villaveirán: We entered a market where SMEs were, in a way, "abandoned" by traditional banks in this area. Our main advantage was offering a better service, greater transparency and more competitive pricesWe were also pioneers in offering solutions that banks didn't offer, such as opening multi-currency accounts. The success of fintechs has forced banks to improve, which is good for the entire market.
SSP: Our advantage has been the specialization and agilityWe are dedicated exclusively to this, while for a bank, it's one of many lines of business. Our technology is designed from the ground up for international operations, making it more intuitive and efficient. This translates into better prices, greater speed, and, ultimately, a service that is much better adapted to the real needs of an exporting company.
.
Broadly speaking, as experts seeking to minimize risks, what should a Spanish exporting company be aware of at the end of this year and the first half of 2026?
Ramiro Núñez-Villaveirán: The anticipation of Donald Trump's tariffs and new trade agreements has set the course for 2025 so far. We expect a fairly volatile market in the coming months due to the uncertainty generated by the US Federal Reserve's decision to lower interest rates. A weak US labor market and geopolitical conflicts will drive volatility in the EUR/USD pair.
Sergio Sastre Pacheco: Spanish exporting companies must act with extreme caution, as the appreciation of the euro is reducing the competitiveness of their products. Therefore, it is recommended a very close monitoring of the marketThis involves weekly monitoring of both macroeconomic data and the decisions of central banks, such as the ECB and the Fed. Sastre advises conducting analyses of different exchange rate scenarios to assess the impact on prices and margins in advance. According to Sastre, it is essential that each company establish a formal internal policy for managing currency risk and that management encourage the use of hedging instruments. Finally, he suggests seeking "natural hedges," such as attempting to invoice in the same currency in which raw materials are purchased, and not forgetting the long-term strategy of geographically diversifying exports to avoid dependence on a single market.
Any questions about this news?
Talk to Coexia, the AI of the foreign trade
