Corporate
Outlook: Stable
Action date: 08/15/2022
Rating action: Affirmed

LA SIRENA ALIMENTACIÓN CONGELADA SL

EthiFinance Ratings assigns for the first time an "BB-" rating with a Stable outlook to La Sirena. The company focuses its activity on the food distribution sector, specifically frozen products. Its activity is mainly developed through its retail channel in Catalonia (220 stores) and Madrid (42 stores). At year-end 2021 (30/04), the company reported revenues of € 194.4MM (+19% YoY) with EBITDA of € 13.8MM (EBITDA Margin of 7.1%). The NFD/EBITDA and EBITDA/Interest ratio stood at 0.8x and 2.6x, respectively.

Rating

Solicited
Date last rating: 08/15/2022
Date first rating: 12/02/2021