Report
Kristof Samoy

Arcadis Solid execution

Full year results positively surprised on the recurring margin front. FCF beat expectations thanks to solid net working capital management. High 4Q order intake at GBA Places and Mobility is supportive for further margin growth. The repositioning of Places seems on track. We believe the likelihood of realising both timing and magnitude of the CMD margin target has increased compared to last November.
Underlying
Arcadis NV

Arcadis NV is a global asset design and consultancy company. The Company is engaged in providing consultancy, design, engineering and management services in the area of infrastructure, water, environment and buildings. The Company's segments include Americas; Europe and Middle East; Asia Pacific, and CallisonRTKL. Its business lines include infrastructure, water, environment and buildings. Infrastructure business line focuses on sustainable infrastructure solutions for transportation by road, rail, air and over water, and creating reliable energy supply systems. The Company is an environmental solutions provider to private industry, and delivers projects that protect the earth's resources. It offers water supply, treatment, management and conveyance solutions. The Company also offers contract solutions, master planning and sustainable urban development, commercially led program management, business advisory, data analysis and architecture and design solutions.

Provider
KBC Securities
KBC Securities

We are a financial services provider for several types of professional clients, each with distinct needs.

 

Analysts
Kristof Samoy

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