FCC : Results slightly ahead, overcoming energy costs with solid underlying performance
>Solid results across the different businesses - FCC’s Q1 2022 results were a touch above our estimates as the higher-than-expected impact from energy costs in cement was offset by a strong underlying performance elsewhere, mainly in environmental services and in central costs: revenues € 1,672m (€ 30m or 2% above), EBITDA € 278m (€ 14m or 5% above) and net debt € 3.6bn vs € 3.6bn estimated. The main and most important outperformance came from the environmental servi...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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