ROADIS IN FIGURES
9
NUMBER OF CONCESSIONS
2.114
NUMBER OF EMPLOYEES
1.596
KM MANAGED
+4,8% 200.970
DAILY VEHICLES
489 M€
TRAFFIC REVENUES
355 M€
EBITDA
3.610 M€
INVESTMENT
Looking back at recent years
The following table shows the evolution of traffic revenues and EBITDA over the last four years.
Financial transparency
ROADIS maintains a solid financial position.
Net debt at 31 December 2023 amounts to €1,846.5 million. This debt includes the balance of the Convertible Subordinated Loan with FONADIN amounting to 789.2 million, in respect of which the payment obligation is linked to revenue targets and which is in the process of being restructured. This represents a ratio of 6.2 times the operating cash flow generated, which is similar to the previous year.
Discounting this balance of the loan with FONADIN (789.2 million), the group's net debt amounts to 1,057.2 million, giving rise to a ratio value of 3.5 times the operating cash flow generated:
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Of the total of this debt, only 27.3 million is corporate debt, while the rest is linked to the projects, which, in addition, the large majority is financial debt without recourse to ROADIS Transportation Holding, SL (95%).
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Regarding maturities, only 11% of the Group's financial debt at 31 December 2023 matures in less than twelve months, while more than half (52%) matures in more than 5 years.
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Lastly, concerning interest rate risk, 83% of debt held at year-end 2023 is at a fixed interest rate, or this risk was mitigated by hedging derivatives.
Regarding the group's leverage and debt, the Group's position has improved significantly after the acquisition of the assets in India, by increasing net worth:
Consolidated Financial Debt
The following table shows developments in the Group's net debt with respect to year-end 2022.
This debt is affected mainly by the capitalisation of interest on the FONADIN loan. Negotiations for the restructuring of this loan were ongoing at 31 December 2023, which is expected to take place in the first half of 2024.
Practically all of the Group's debt (99%) is allocated to projects and most (95%) is non-recourse debt, i.e. it is not guaranteed by ROADIS Transportation Holding, S.L.U.
In addition, 83% of ROADIS debt bears fixed-rate interest (including UDI-denominated debt) or is hedged by derivatives, which has allowed the Group's assets to be unaffected or to a very limited extent by the recent abrupt increases in global interest rates.
Only 11% of the total outstanding debt matures within the next 12 months.