Economy February 19, 2024 | 8:35 am

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César Iglesias: sustained recovery and business strengths recognized in Feller Rate’s rating report

Santo Domingo.- César Iglesias has experienced a gradual recovery in operating margins, as revealed in Feller Rate’s semi-annual rating report beginning in the third quarter of 2023. The report emphasizes that this positive trend is attributable to reduced inflationary pressures on logistics costs, import expenses, and raw materials. The company’s proactive policies to counteract these effects have also contributed to the observed improvement.

Capitalizing on this optimistic development, company executives seized the opportunity to underscore the commercial and operational strengths inherent in César Iglesias’ business model. These strengths are further validated by the financial results at the close of 2023 and the independent opinions issued by reputable rating agencies.

It is noteworthy that the rating agency evaluates environmental, social, and corporate governance factors. In this context, César Iglesias stands out for its environmental initiatives, including efforts in renewable energy, wastewater treatment, and reforestation days.

The company, boasting a diverse product portfolio encompassing over 900 formats and represented by more than 100 well-positioned proprietary and third-party brands, emphasizes its commitment to maintaining industry-leading quality standards. This commitment is evidenced by strategic alliances with esteemed national and international partners, as acknowledged by Feller Rate in its evaluation.

César Iglesias executives highlight the company’s 24 production plants, independently managed and operated, concentrated in a state-of-the-art industrial park in the municipality of San Pedro de Macorís. Covering a vast 300 thousand m² plot, these plants host 54 distinct production lines operational every day of the year.

Key Influencing Factors or Decisions:

  • The rating agency underscores the robust business profile, citing César Iglesias’ strong market positioning across key categories, extensive product and sales channel diversification, economies of scale, and a well-established distribution network in highly competitive industries.
  • Feller Rate points to the gradual improvement in operating margins as a result of lower inflationary pressures, along with César Iglesias’ business plan focusing on profitability and efficiency. Other supporting factors include reduced exposure to fluctuations in raw material prices and exchange rates, a decline in financial debt levels, and a sound liquidity position.
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