CFE : Strong H2 performance but outlook in-line with our expectations
>FY20 operational results and backlog better than expected - Revenues in 2020 were down 11% to € 3,222m (AAOB € 3,171m) with DEME -16% to € 2,196m (AAOB € 2,225m), CFE Contracting down 9% to € 912m, and Real Estate up 122% to € 131m.Group EBITDA in 2020 was 8% lower at € 415m (AAOB € 398m) with DEME -16% to € 370m (AAOB € 341m). Group EBIT declined in 2020 by 33% to € 119m (AAOB € 93m), with DEME -47% to € 86.7m (AAOB € 52m), CFE Contracting -21% to € 14.9m (AAOB...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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