FCC : Good results with outperformance across the board
>Strong results, once again - FCC’s Q4 2021 results were ahead of our estimates, maintaining the strong underlying performance shown over the last few quarters: revenues € 1,795m (€ 66m or 4% above), EBITDA € 312m (€ 39m or 14% above) and net debt € 3.2bn vs € 3.3bn estimated. The main and most important outperformance came from the Cement division, which beats our estimates (EBITDA € 15m above our figure), mainly thanks to higher revenues, as strong volumes seem to b...Fomento de Construcciones y Contratas is the parent company of a group engaged in sanitation services, cleaning, maintaining, purification and distribution of water, construction of highways, hydraulic works, marine works, air and rail transport infrastructure, urban developments, housing, non-residential buildings, office buildings, toll highways, parking garages, marinas and water treatment plants. Co. is also engaged in the manufacture and sale of cement and cement infrastructures, such as precast concrete elements; and in the financial markets, and real estate development, leasing and tourism.
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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