Bankinter S.A. - Ferrovial S.A. (FER) Ferrovial: 2018 results in line. Buy recommendation unchanged

Report

Bankinter S.A.

Juan Moreno

EUR 10.00 For Business Accounts Only

Ferrovial: 2018 results in line. Buy recommendation unchanged

2018 results in line. No surprises from the NFD. Our valuation of Services implies 8.1x EV/EBITDA 2018. Shareholder remuneration in line with the previous year. We maintain our Buy recommendation.

01/03/2019 4 EN

Underlying

Ferrovial S.A.

Ferrovial is a transportation company based in Spain. Co. is engaged in operations in the transportation sector. Co. specializes in the design, construction, management, administration and maintenance of transport infrastructures. Co.'s services range also includes the maintenance of parking lots, and land-, sea- and air-based transport networks. Co. is also engaged in the promotion and operation of short-stay parking lots, parking regulation and management services and promotion and sale of residents' parking.

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ES0118900010 Madrid Stock Exchange Spain

Provider

Bankinter S.A.

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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Analysts

Juan Moreno

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Ferrovial: 2018 results in line. Buy recommendation unchanged

INFORME DIARIO 12 ABRIL + RDOS. ESPAÑA Y EUROPA 1T'24. PREVIEWS (ANÁLISIS BANCO SABADELL)

IBERIAN DAILY 12 APRIL + 1Q’24 RESULTS. PREVIEWS (ANÁLISIS BANCO SABADELL)

IBERIAN DAILY 05 APRIL (ANÁLISIS BANCO SABADELL)

Reig Jofre: EBITDA maintains its growth in 1H20 (+40%) driven by sales (+25%) and cost efficiencies

Reig Jofre: EBITDA increased +43% in 1Q20 fuelled by sales (+26%) and a higher EBITDA margin

Reig Jofre: EBITDA (adj.) +17% in 2019 and guidance is 2x in a five-year plan

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