EthiFinance Ratings affirms Audax's credit rating at 'BBB-', but with a 'stable' trend

MADRID, 13 May. (EUROPA PRESS) –

EthiFinance Ratings, a European credit rating agency, has affirmed Audax Renovables’ rating at ‘BBB-‘ with a ‘stable’ trend, as reported by the company this Monday.

Specifically, the agency has changed the trend of society, which has gone from ‘under observation’ to ‘stable’.

Audax recorded a profit of 31.4 million euros in 2023, which represents quadrupling (304%) the profits of the previous year, when they stood at 7.8 million.

The firm decreased its income by 13%, to 2,293 million euros, after the general drop in the price of electricity and gas, of 53% and 65% respectively, and increased its gross operating result by 78% (Ebitda ), thus reaching 96.1 million euros, its best historical result.