ELECNOR SA

EthiFinance Ratings affirms the rating of Elecnor S.A. at "BBB-" maintaining the Stable outlook. Founded in 1958 and headquartered in Madrid, Elecnor S.A. is a company specialized in the execution of engineering, construction, and services projects. Its wide range of activities covers the electricity, power generation, gas, telecommunications, railways, water, environment, and space sectors. Additionally, it stands out for its concessional approach, promoting, financing, constructing, investing, and managing energy assets, particularly those related to renewable energies. Elecnor adopts a comprehensive project management approach, participating in all stages of the value chain. As the parent company of the Elecnor Group, its shares are listed on the Spanish continuous market. In 2022, the group achieved a turnover of € 3,613M (+16% year-on-year), with an EBITDA of € 307M (8.4% EBITDA margin), and an EBT of € 165M (+17% year-on-year).