CFE : Offshore wind saved 2023 performance, but will be much less in 2024
>H2 results helped by temporary strength in offshore wind - Revenues in 2023 were up 7% y-o-y to € 1,249m (BB consensus € 1,214m, AAOB € 1,223m)EBITDA declined by 22% y-o-y to € 49.5m (BB consensus € 52.2m, AAOB € 34.5m)Group EBIT was down 35% y-o-y to € 33.0m (BB consensus of € 24.1m probably mix of in-and excluding associates, AAOB € 27.6m)Looking at the segment breakdown of Group EBIT it was "Investments & Holding" contributing € 20.1m (AAOB € 15.0m)...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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