HOCHTIEF : Good Q4 numbers, undermined by lower order intake
>Q4 2018 results ahead of the consensus - Hochtief’s Q4 2018 earnings, reported yesterday, beat the consensus compiled by the company (+1.2% for sales and +6.6% for net operating profit). Three positive points to highlight: 1/ full-year sales growth remains robust at +11% in organic terms in 2018 (vs +7% by our estimates in 2017), thanks to the Americas (+14%) and APAC (+9%). 2/ an improvement in EBIT margins in all divisions. 3/ very solid operating cashflow ge...Hochtief is a holding company. Through its subsidiaries, Co. operates as a construction company engaged in projects in the transportation, energy, and social and urban infrastructure sectors as well as contract mining. Co. provides its services through three divisions: HOCHTIEF Americas, which encompasses the construction activities of operational units in the U.S and Canada; HOCHTIEF Asia Pacific, which includes the construction activities and contract mining in the Asia-Pacific region; and HOCHTIEF Europe, which designs, develops, builds, operates, and manages real estate and infrastructure, with primary business in Europe as well as selected other regions.
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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