Report
Sven Edelfelt

HOCHTIEF : Déceptions chez Cimic, une opportunité d’achat sur Hochtief ?

>Cimic : une publication décevante… ou prudente ? - Le titre Cimic (filiale à 77,4% de Hochtief) a baissé de 17% après la publication des résultats annuels et celui d’Hochtief de 4%. Parmi les éléments jugés décevants, notons (i) des charges « one-offs » additionnelles de 613M AUD (en plus de la dépréciation – déjà connue - de 805,3 M€ suite à l’arbitrage rendu sur le projet Gorgon Jetty) ; (ii) une guidance 2021 inférieure aux attentes et (iii) un taux de conversion ...
Underlying
Hochtief AG

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Sven Edelfelt

ResearchPool Subscriptions

Get the most out of your insights

Get in touch