NEXUS ENERGIA SA

EthiFinance Ratings upgrades Nexus Energía's rating from "BB+" to "BBB-", maintaining its Stable outlook. Nexus Energía S.A. is presented as a group specialized in the energy sector that specifically provides energy marketing services to SMEs, public administrations and to a lesser extent to individuals, as well as representation services to renewable energy producers (mostly photovoltaic). Its natural scope of activity is Spain, with a presence, although more limited, in Portugal and Mexico. At year-end 2022, the group reported revenues of € 3,046m (+29.2% YoY) and EBITDA of € 30.4m (EBITDA margin 1.0%). Under our methodology, the group's Adjusted NFD/EBITDA ratio was 0.6x. The group manages an energy volume of 12.1TWh (-11.6% YoY).