Ferrovial : 407 ETR: an additional improvement brings the final goal closer
>Good results on the back of a sequential improvement… - The 407 ETR’s Q2 2022 results were above our estimates as they showed a sequential improvement in traffic to -19% in Q2 2022 over Q2 2019 from the -34% in Q1 2022 over Q1 2019, interestingly, with a ‘strong’ month of June at just -12%. This led to an 8% beat to our traffic estimate, as well as a beat to our estimates in all the lines of the P&L: toll revenues, total revenues and EBITDA all 5% above. The recover...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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