Ferrovial : A halt in traffic improvement that casts some doubts, but with time to react in 2024
>Traffic deteriorates sequentially, putting more pressure on 2024 - The 407 ETR’s Q4 2023 results were below our estimates, as traffic showed a reversal on the sequential improvement seen over the last few quarters: traffic during Q4 2023 was -7.2% vs Q4 2019, which compares to the -4.2% in Q3 2023, -5.2% in Q2 2023, -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 +8.8% y-o-y traffic growth ...
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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