CFE : Expects to improve in 2021, but still cautious on recovery potential
>Feedback analyst call: all eyes on DEME - CFE’s analyst call on Friday afternoon was for 90+% focused on the developments with offshore subsidiary DEME, and within this scope the puzzle was two-fold: 1. How to interpret the stronger than expected 2020 results vs. the long list of one-offs in these results, and 2. How to interpret the guidance for 2021 ?Long list of one-offs in 2020 results: 1. COVID & Orion: CFE has indicated that COVID & the crane hook incident...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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