EthiFinance Ratings has reaffirmed Izertis' credit rating at BB+ with a stable outlook, highlighting the company's financial strength and competitive positioning in the technology consulting sector.

The report recognises the strength of Izertis' business model, its ability to continue growing in a competitive environment and its commitment to technological innovation.

Among the reasons for its rating, the report analyses the sector in which the Spanish technology consultancy firm operates, highlighting its "good growth prospects, low barriers to entry, with average profitability levels and relatively low volatility". "The outlook for the sector is seen as favourable, driven by demand for innovative digital solutions that enable organisations to continue to grow in an ever-changing environment," the agency notes. 

Izertis positions itself as a specialist competitor

According to EthiFinance Ratings, "Izertis is positioned as a specialist competitor focusing its competitive advantages on a broad portfolio of high value-added services (artificial intelligence, blockchain, cybersecurity and cloud solutions)". 

The document also highlights Izertis' leadership, its "high specialisation" and an organisational structure that "has allowed it to gain in flexibility and speed in meeting the needs of its customers". It also values its positioning as a "reference provider in the market", as well as its strategic alliances with technology leaders such as Microsoft, SAP, Salesforce and AWS.

The report's arguments also point to a "shareholding structure controlled by the founder, although owned by other investors, showing adequate access to capital markets", "a qualified management team whose financial policy is marked by controlled indebtedness", and a "neutral ESG policy at company level".

Good financial profile

The agency positively highlights the company's financial autonomy, with a capitalisation ratio close to 80%, as well as its capacity to generate sustained growth: in 2024 the company had a turnover of 133.1 million euros, 13.5% more than the previous year, and in the first half of 2025 it recorded 75.4 million, an increase of 19.2% compared to the same period in 2024. 

The company is also assessed as maintaining "good liquidity favoured by the cash position, recurrent operating cash generation and a satisfactory refinancing profile". "The Izertis group's inorganic growth policy, combining a large component of equity financing with gross financial debt growing at a slower pace (+8.3% year-on-year), has allowed it to strengthen capitalisation levels," added EthiFinance Ratings.

For Izertis' CFO Lourdes Argüelles, the BB+ rating "confirms the soundness of our financial strategy and our ability to continue to grow in a sustainable manner. We have managed to maintain the balance between expansion and financial independence, strengthening our market position and securing the confidence of our investors".