FCC : Reassuring results as all businesses perform strongly
>Revenue growth remains high while margins improve from Q1 - FCC’s Q2 2023 results beat our estimates, with total revenues of € 2,293m (€ 309m or 16% above) and EBITDA of € 401m (€ 70m or 21% above). The outperformance came mainly from higher sales in construction and cement as well as from a positive one-off in cement, while the weak margins from Q1 in environmental services and water proved to be driven by one-off impacts and recovered in both divisions. High revenu...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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