FCC : Reassuring results with the most relevant division above our estimates
>EBITDA 6% above thanks to Environmental Services and Water - FCC’s Q3 results were above our estimates at operating level, with total revenues of € 2,313m (€ 25m or 1% above) and EBITDA of € 377m (€ 22m or 6% above our estimates). The beat was the result of a very good operating performance at the Water and Environmental, thanks to the incorporation of new contracts and a solid margin at both divisions. The negative note form the results came from the decline in con...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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