GRUPO PESTANA SGPS SA
Type of ratings: Corporate
Rating value: BBB-
Outlook: Positive
License: EthiFinance Ratings
Solicited
Type of ratings: Corporate
Rating value: BBB-
Outlook: Positive
License: EthiFinance Ratings
Solicited
EthiFinance Ratings affirms Grupo Pestana s BBB- rating, changing its outlook from Stable to Positive. The company focuses its activity on the management of 79 hotels, 9 units of vacation club, 6 golf courses, 4 real estate ventures, 1 casino gambling concession and 1 brewery company, all of which are located in Portugal. Grupo Pestana s turnover in 2021 was € 262.2MM (+60.7% YoY) with an EBITDA of € 79.6MM (38.1% EBITDA Margin). NFD/EBITDA stood at year end in 5.3 times. As of the end of 3Q22, the company reported € 299.8MM revenues and an EBITDA of € 114.2MM (38.1% EBITDA margin). NFD/EBITDA LTM stood at 1.8x.
Ratings
Rating action: Affirmed
Action date: 2022-12-21
Date last rating: 2022-12-21
Date first rating: 2019-09-06
Methodologies