Report
Martijn Den Drijver

Arcadis : CMD feedback: Achieving the EBITA margin target should materially diminish the valuation gap

>2026 EBITA margin target >12.5% is ambitious, organic growth slightly less - Yesterday, Arcadis provided new targets for its 2024-2026 strategic. These targets include an ambitious ‘at least 12.5%’ EBITA margin (AOe ‘at least 11%’). Other targets included organic growth (mid to high single digit, as expected) and a leverage ratio of 1.5-2.5x net debt/operating EBITDA (in line). Arcadis explained that there are four building blocks get to that 12.5% but the key ones a...
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
Oddo BHF
Oddo BHF

​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.

Analysts
Martijn Den Drijver

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