Acciona : Hidden value beyond the green portfolio… but a larger buffer is needed
Acciona is an infrastructure operator that is mainly focused on renewable energy. It holds an 82.7% stake in Acciona Energía and a 41% stake in Nordex, both listed companies. The company maintains a strong financial situation and high financial flexibility thanks to the nature of the assets, especially regarding Acciona Energía. We believe the non-quoted businesses, the so-called ‘stub’, are undervalued by c. €150m, something that could be taken advantage of by structuring a long...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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