Acciona: 1H18 results preview, we expect a significant cut in debt
Acciona: 1H18 results preview, we expect a significant cut in debt
- Acciona will report its 1H18 results on Friday, 27th July.
- We expect lower sales…
- …and higher EBITDA and recurrent EBIT
- We expect EBITDA to increase +5% to €609mn in 1H18e (energy +5% to €385mn,
- Debt may be cut by €724mn to 3.5x EBITDA
- 5% share buy-back programme
- Valuation and recommendation
Acciona is the parent company of a construction group. Co. is engaged in general construction activities in the areas of civil engineering and buildings, including railways, marine and hydraulic works, motorways and airports, town planning, conduits, pavements, parking lots, and industrial and urban buildings. In addition, Co. is engaged in the provision of real estate services, the operation of parking lots, telecommunications, services, ecology and alternative means of energy. Co.'s operations are organized in six business divisions: Infrastructures, Real Estate, Energy, Water, Environmental & Urban Services and Logistic & Transport Services.
Bankinter S.A. is a Spanish brokerage firm established in 1989. The company's line of business includes the provision of market research and trading services for Equity and Fixed Income products.
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