SIDECU SA
Type of ratings: Corporate
Rating value: B
Outlook: Positive
License: EthiFinance Ratings
Solicited
EthiFinance Ratings affirms Sidecu s B rating, changing its outlook from Observation to Positive. The group is specialised in the development and management of sports centers, focused on concession business model. Their activity is concentrated in Spain (94% of turnover). In 2022 (non audited), the group's turnover stood at € 39.4M (€ 26.6M in 2021), with an EBITDA of € 3.9M (€ 1.8M in 2021), deriving in an EBITDA margin of 9.8% (6.8% in 2021). The NFD/EBITDA ratio stood at 22,0x.
Ratings
Rating action: Affirmed
Action date: 24/04/2023
Date last rating: 24/04/2023
Date first rating: 09/03/2015
Methodology