Lantania registers its first Commercial Paper Programme on the Alternative Fixed Income Market (MARF) for 50 million euros

• The Group reaches a revenue of 375 million euros in 2023, up 20%

Madrid, 6 May 2024. Lantania Group has registered its first Commercial Paper Programme on the BME (Spanish Stock Exchanges and Markets) Fixed Income Market, MARF, with a maximum outstanding balance of 50 million euros. The promissory notes issued under this scheme will have a par value of 100,000 euros per unit, and maturities ranging from three days to a maximum term of 24 months.

This programme allows the infrastructure, water and energy company to diversify and expand its financing sources by accessing the Fixed-Income markets. This way, Lantania can bolster its growth, whilst also maintaining a prudent capital structure.

Analistas Financieros Internacionales has participated as Registered Advisor and Banco Santander is the scheme’s Coordinating Entity. In addition to Banco Santander, Banco Sabadell will also act as Placement Agent for the promissory notes. Pérez-Llorca Abogados has been the legal advisor.

EthiFinance Rating has assigned Lantania Group a long-term rating of BB with a stable trend.

Lantania Group closed last year with a revenue of 375 million euros, an increase of 20% over the previous year and an improvement on its forecasts. The company signed new contracts worth 450 million euros throughout the year. The value of the Group’s list of pending projects therefore exceeded 700 million in 2023, almost doubling the revenue achieved in 2023, with works as significant as the expansion of the Palma II waste water treatment plant and the High-Speed connection to the Adolfo Suárez-Madrid Barajas Airport, amongst others.

The Group’s EBITDA amounted to 12.5 million euros, down 4%. This was a decline caused by the rise in cost of raw materials, the negative return of DSV Constructora y Ferroviaria (acquired in 2022), and of Indania (launched in 2022), as well as the Group’s commitment to the water market, which came with a significant development cost, but which will already bear fruit this year.

These results are in line with the Group’s 2022-2026 Strategic Plan, which will generate a turnover of 500 million euros and an EBITDA of 25 million euros in 2026.