Izertis renews its promissory note programme on the MARF for 30 million euros
The listed at BME Growth Izertis has renewed its promissory notes programme, admitted to trading on Thursday on the Mercado Alternativo de Renta Fija (MARF), for a maximum nominal outstanding balance of 30 million euros.
This is the third consecutive year that the company specialising in digital transformation processes and technology consulting is present in this market. Through it, Izertis has a financing alternative that allows it to have liquidity to meet the operational needs of its business.
In order for the Izertis project to be successful we must continue to build our financial structure in a solid way
The promissory notes, which will be issued under the program with a nominal unit value of 100,000 euros, and the number of which will depend on each issue, may have maturities between three days and a maximum of two years. Since it joined the MARF at the end of 2020, Izertis has so far issued 8 promissory notes, the total nominal amount of which has ranged between 3 and 9.8 million euros per issue, with maturities of between 3 and 12 months. The company chaired by Pablo Martín has once again appointed Renta 4 Banco as the directing corporation of the program, which together with Bestinver will act as placement agents.
Lourdes Argüelles, CFO of Izertis, has commented that "in order for the Izertis project to be successful we must continue to build our financial structure in a solid way, as we have been doing since the beginning. Therefore, it is crucial for us to diversify our financing channels.
Credit rating, positive trend
A few hours ago, it was also announced that the rating agency EthiFinance Ratings has awarded the company a BB credit rating with a positive trend. The report made public by the agency highlighted that the company "maintains an intensive growth policy, based on a stable financial structure, while substantially improving the business and financial level of its operations". It also distinguishes it as a tactical supplier within the value chain of its customers, with a broad offering that makes the company not dependent on any one line of business," according to the report.
Multiplying its value and business plan
Since its listing on the stock exchange three years ago, the digital transformation company has multiplied its market capitalisation by 4.7 times. It made its debut on the stock exchange in November 2019 with a starting price of 1.70 euros per share, which represented a value of 36.2 million euros. Today, its market capitalisation exceeds 195 million.
In the 26-year history of Izertis, the compound annual growth rate (CAGR) of its turnover has been around 23%, while in the last five years it has been 35%. The company's 2020-2023 Strategic Plan is designed to reach a turnover of 125 million euros and a normalised ebitda of 12.5 million euros in this period. In the first half of this year, the Asturian multinational grew revenues by 31%, with a normalised ebitda margin close to 13%, above the 10% target established in the Strategic Plan.