CFE : As expected, construction sector affected by macro conditions
>H1 results lower y-o-y and cautioning outlook - Revenues are up 9.5% to € 641.7m implyign Q2 up 8.0% to € 338.5m after Q1 up 11.1% to € 303.2m. with Real Estate Development revenues up 135% to € 73m, Multi-technics down 0.6% to € 171m and Construction & Renovation up 14.5% to € 455m.EBITDA is down by 28% y-o-y to € 20.0m from € 27.8m a year ago, equivalent to an EBITDA margin of 3.1% (4.7% in 22H1). Note Bloomberg FY23 consensus is € 64.8m, up from € 63.1m in 2...CFE is engaged in civil engineering, buildings and industrial construction, dredging works and electrical installations. Co. is also engaged in property development, environmental protection and building management. Co.'s works carried on by Co.'s civil engineering group includes the following: hydraulic engineering, harbor works, bridges, and other engineering works, tunnels, road construction, dams, storage tanks, piping and drainage and caissons sunken soft soil. Co.'s buildings and industrial construction sector is active in the following fields: administrative buildings, industrial construction, public utility buildings, redevelopment, and residential buildings.
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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