HOCHTIEF : Cash conversion again in the spotlight; another demanding task ahead for seasonality
>P&L in line with our estimates, with higher cash consumption to be recovered later in the year - Hochtief’s Q1 2023 results were in line with our estimates, with no significant P&L deviations: revenues € 6,189m (€ 250m or 4% above our € 5,939m estimate), EBITDA € 296m (€ 1m or 0% above our € 295m estimate), EBIT € 220m (completely in line with our € 220m estimate) and net profit € 128m (€ 21m or 20% above our estimate of € 106m due to higher financial income). Net de...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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