ACS : Results keep a decent trend: in line and increasing stake in Hochtief to 70%
>Results in line with our estimates, both at the P&L and the cash flow generation - The company’s Q1 2023 results were largely in line with our estimates with slightly higher revenues and a completely aligned EBITDA, as well as a contained working capital: revenues € 8,111m, i.e. € 228m or 3% above our estimate and EBITDA € 462m, i.e., € 1m or 0% above our estimate. Net cash excluding Hochtief deteriorated significantly (by € 1,428m to € 1,558m), but it was mainly due...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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