CORPORACIÓN CUNEXT INDUSTRIES SL


Type of ratings: Corporate

Rating value: BB-

Outlook: Stable

License: EthiFinance Ratings

Solicited

Cunext Group is identified as a business group that specialises in the transformation of copper and aluminium to obtain different products mainly for the energy, automotive, enamelling, railway and distribution industries. The company has 351 employees and, through its production plants (Cordoba, Vitoria and Zaragoza in Spain, Brescia in Italy and Shelby in the United States) with a current smelting capacity of 280 thousand tonnes/year of copper and 60 thousand tonnes/year of aluminium, the company supplies its products to more than 30 countries. At year-end 2021, the company reported revenues of € 1,733.2M (+42.3% YoY) with EBITDA of € 16.3M (EBITDA margin of 1%). The Adjusted DFN/EBITDA ratio stood at 6.9x.

Ratings

Rating action: Affirmed

Action date: 2022-12-01

Date last rating: 2022-12-01

Date first rating: 2021-10-21

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