CLH Financial analysis report (2013-2018) compiled by the CNMC

  • The report underlines that the debt ratios calculated on income and those relating to cash are sound, thus reflecting the company’s extraordinary solvency?
  • The National Markets and Competition Commission (CNMC) recognises the profitability of the international investments made by the company during the period analysed, contributing to higher financial results

Over forthcoming days CLH will review in detail the financial analysis report for the period 2013-2018 that substantially reflects the company’s positive financial position.

The report by the CNMC recognises the profitability of the investments made by CLH during the period analysed, which have contributed to higher financial results thanks to an increase in the dividends received from CLH subsidiaries, according to the report.

However, the company does not agree with the assessment of the CNMC regarding one of its recommended debt ratios because, even though it shows a high level in relation to its assets at carrying value, as a result of the depreciation/amortisation of assets resulting from a long-term activity, it shows a very sensible level in relation to its EBITDA.

In fact, the same report from the CNMC states that “the net debt / EBITDA ratio is very sound” at 2.4, which is much lower than the recommended threshold of 6 and below the figure of other similar companies in relation to their EBITDA.

In turn, with the onset of the COVID-19 crisis, the CLH Group put a contingency plan in place which, thanks to the significant investments made before the period analysed by the CNMC, has allowed it to continue its operations as usual and in cooperation with other players in the oil sector to ensure oil product supply to the general population and other bodies and entities that are also providing essential services during the crisis.

Furthermore, CLH has joined the collaboration with the Spanish government to mitigate the current health alert caused by COVID-19 by donating medical supplies to the Ministry of the Interior for a total amount of nearly 1 million euros, which has deserved the recognition and appreciation of the Ministry for Ecological Transition and the Ministry of the Interior.