The agency Moody’s has raised a step, from ‘Ba3’ to ‘Ba2’ with stable perspective, the credit rating of Fluidra, although it still remains within the degree considered speculative, as reported by the company through a statement sent to the National Securities Market Commission (CNMV).
This update, according to Moody’s, reflects the significant improvement in the company’s operations in 2020 thanks to the increase in demand for swimming pool products and the forecast that this trend will continue in 2021. The improvement in the score also shows the company’s leadership position in the world of swimming pools, your history of prudent financial policies and a solid free cash flow generation.
The multinational in the swimming pool sector Fluidra has shot up its net profit in the first quarter of 2021 to 67.3 million euros, which means multiplying by 42 those registered in the same period of 2020, after their sales have grown by 61%.
The first three months of the year have been a record for the leading company in pool and wellness equipment, which has achieved some sales of 508 million euros thanks to the promotion of the residential swimming pool, which has already increased the results of the firm in the 2020 financial year.