Ferrovial : 407 ETR: recovery on track, slightly faster than anticipated, despite still taking its time
>Traffic recovery continues despite restrictions - The 407 ETR’s Q4 2021 results were slightly ahead of our estimates and continued to show a strong y-o-y recovery in all the main KPIs: traffic +43%, revenues +37% and EBITDA +43% in Q4 2021, i.e. 2.5%, 3.3% and 5.4% above our forecast, respectively. This recovery showed a similar path to the one we were expecting, just slightly above, and implied an acceleration in all three key metrics, both y-oy- and vs 2019. The u...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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