SAMPOL GRUPO CORPORATIVO SLU


Type of ratings: Corporate

Rating value: BBB

Outlook: Stable

License: EthiFinance Ratings

Solicited

EthiFinance Ratings upgrades Sampol Grupo Corporativo, S.L.'s rating from "BBB-" to "BBB", maintaining its Stable outlook. Under the terms of the formalised issue, the rating of Sampol Ingeniería y Obras, S.A. is the same as that of Sampol Grupo Corporativo, S.L. The rating upgrade is supported by the fact that it has achieved a very positive financial performance in 2021, following the negative figures recorded in 2020, while maintaining adequate debt and liquidity levels, taking into account the high investments required by its business. ESG factors have not had a significant impact on the company's rating. Sampol Grupo Corporativo, S.L. is a Spanish engineering company with more than 85 years of history. Its historical positioning in Spain and the Caribbean (96.7% of EBITDA in 2021) in the airport and hotel sectors, together with EPC activities in cogeneration plants, make up the majority of its business. The company currently has 15 of its own cogeneration plants (five of which are under construction), obtaining revenues through the sale of the energy they generate to the industry where the plant is co-located. At year-end 2021, the company reported revenues of € 207.5M and EBITDA of € 21.1M (+60.1% and 63.5% YoY, respectively), reaching a NFD/EBITDA ratio of -1.17x (-0.29x YoY).

Ratings

Rating action: Upgrade

Action date: 2022-12-15

Date last rating: 2022-12-15

Date first rating: 2019-02-12

Documents

Executive summary:
Executive summary:

Methodologies

Return to the rating page