The company maintains its interest in going public, but there is still no defined date.
Spain.- Cirsa continues its plans to go public, but is waiting for market conditions to improve, there is still no defined date although it is estimated that if the market responds favorably, the company could launch the process before the end of the year.
According to the Spanish media Cinco Días, Cirsa's financial advisors, including Deutsche Bank, Barclays, and Morgan Stanley, will conduct a new round of contacts with analysts and investors in the coming weeks. The company is working to achieve an optimal valuation, which is estimated at EUR5.000m.
The group faces this challenge with record financial results in the first half of the year. Until June, Cirsa reported net operating revenues of EUR1.032,6m, which represents a 5 percent increase compared to the same period in 2023.
Additionally, EBITDA reached EUR335m, an increase of 8.4 percent, raising the EBITDA margin over sales to 32.4 percent. This continuous growth has allowed Cirsa to chain 64 consecutive quarters of EBITDA increase.
See also: Cirsa creates a committee on diversity, equality, and inclusion
