ACS : No operating surprises, SH-288 partially sold to Abertis and higher stake in Hochtief
>Results in line at the main P&L operating metrics - The company’s Q2 2023 results were largely in line with our estimates, with just a 2% beat to our estimates in both revenues and EBITDA, that were tempered down by an additional working capital deterioration of c 0.2bn, on our estimates. Net debt excluding Hochtief improved by € 47m to € 1,511m, mainly due to the € 178m dividend received from Abertis as well as from a € 74m increase in factoring, while some cash fl...ACS Actividades de Construccion y Servicios is a holding company. Through its subsidiaries, Co.'s activities are divided into the following areas: Construction, engaged in the construction of civil works, and residential and non-residential building construction; industrial services, engaged in the development of applied engineering services, installations and the maintenance of industrial infrastructures in the energy, communications and control systems sectors; services, groups together environmental services, the outsourcing of building maintenance services, logistics and transport services; and concessions, mainly engaged in transport infrastructure concessions.
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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