Type of ratings: Corporate

Rating value: BBB-

Outlook: Stable

License: EthiFinance Ratings


EthiFinance Ratings affirms the rating of Elecnor S.A. at "BBB-" maintaining the Stable outlook. Elecnor S.A. was founded in 1958 and operates in the infrastructure, energy and telecommunications sectors. The company is involved in the design, construction, and maintenance of a wide range of projects through a comprehensive management in the entire value chain. The company is the parent of the Elecnor group and its shares are listed on the Spanish continuous market, on the Madrid and Bilbao stock exchanges. The group operates internationally, with presence in 55 countries, of which Spain, Brazil and the US stand out. At the end of 2021, the group presented a turnover of € 3,122M with an EBITDA of € 272M (8,7%% of EBITDA Margin) and a net financial debt of € 534M.


Rating action: Affirmed

Action date: 2023-05-08

Date last rating: 2023-05-08

Date first rating: 2021-10-01


Executive summary:


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