Ferrovial : Positive signs in traffic somehow restrained by a not-so-brilliant quarter
>P&L below but likely to accelerate - Ferrovial’s Q1 results were positive, in our view, despite a shortfall in both EBITDA and EBIT, thanks to the path of the recovery in motorway traffic and to solid cash flow generation. The underperformance at EBITDA and EBIT (EBITDA € 133m reported, i.e. € 5m or 3.5% below our estimate and EBIT € 66m reported, i.e. € 4m or 6.1% below our estimate) came from 1/ the higher-than-expected impact on construction margins; and 2/ the a...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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