CFE : Economic downturn continues to bite harder than expected
>Q3 revenues and order backlog confirm further slowdown - Revenues 9M23 up 7.4% to € 904.3m, which after H1 up 9.5% to € 641.7m implies Q3 was up 2.6% to € 262.6m (AAOBe € 255.2m, 22Q3 € 255.9m). Looking at the segment breakdown in Q3 revenues, it confirms growth is slowing down in all segments:- Real Estate Development was flat y-o-y at € 24.1m (22Q3 € 24.0m, H1 still +135% to € 73.1m, AAOBe € 25.0m)- Multi-technics down 4.3% to € 75.0m (22Q3 € 78.3m, H1 -0...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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