Ferrovial : 407 ETR: a strong and positive traffic recovery signal finally recorded
>Traffic accelerates, accompanied by all P&L levers - The 407 ETR’s Q2 2023 results were slightly above our estimates, as traffic showed a strong leap after some quarters of a somewhat weak and erratic recovery. Sequential growth clearly accelerated, with traffic during Q2 2023 being just -5.2% vs Q2 2019, which compares to the -15.3% in Q1 2023, -14.7% in Q4 2022, -12.4% in Q3 2022, -19.4% in Q2 2022 and -34.0% in Q1 2022 (all vs 2019). This led to 17.7% y-o-y growt...Ferrovial is a transportation company based in Spain. Co. is engaged in operations in the transportation sector. Co. specializes in the design, construction, management, administration and maintenance of transport infrastructures. Co.'s services range also includes the maintenance of parking lots, and land-, sea- and air-based transport networks. Co. is also engaged in the promotion and operation of short-stay parking lots, parking regulation and management services and promotion and sale of residents' parking.
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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