Eiffage : Good H1, towards an upward revision of market expectations
>Interim results topped expectations, all business activities deliver. - H1 2018 results ahead of expectations (see details p. 2). Q2 sales: € 4.3bn (+12.6% vs +6.7% est.), of which contracting +13.8% vs +7.3 est. H1 underlying operating profit: € 806m, margin +10bp to 10.5% vs € 785m est. (10.6% est.) for Oddo-BHF and € 771m for the consensus. The difference comes from concessions (€ 718m vs € 696.5m est., i.e. a margin of 51.3% / another impressive performance from...Eiffage is a construction and concessions group. Co.'s operations are organized into five divisions. The Concessions and PPPs division is engaged in construction and operating of infrastructures under concessions and public private partnerships. Through the Construction division, Co. is engaged in building design and construction, property development and building maintenance. Through the Public works division, Co. is engaged in civil engineering, road construction, infrastructure maintenance and material production. The Energy division specializes in electrical contracting and air conditioning. Through the Metal division, Co. is engaged in metallic construction and services to industry.
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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