AUDAX RENOVABLES SA
Type of ratings: Corporate
Rating value: BBB-
Outlook: Observation
License: EthiFinance Ratings
Solicited
EthiFinance Ratings affirms Grupo Audax's rating in BBB- , maintaining its outlook in Observation . Audax frames its activity within the energy sector, focusing its business on energy commercialization (electricity and gas), mainly in the industrial segment (SMEs and large accounts). The group also operates as an energy generator (project portfolio of 1,425 MW ; 245MW in operation). The company has an international scope of action, maintaining activity in Spain, Portugal, Italy, Germany, Poland, the Netherlands and Hungary. In 2022, Audax reported revenues of € 2,625MM (+56.4% YoY) and an EBITDA of € 54.1MM (EBITDA margin of 2.1%). Under our methodology, the company's NFD/EBITDA ratio stood at 8.5x. Audax's capitalisation reached € 504MM (21/04).
Ratings
Rating action: Affirmed
Action date: 08/05/2023
Date last rating: 08/05/2023
Date first rating: 01/04/2020
Methodology