HOCHTIEF : Higher cash flow generation overshadows an in line P&L
>P&L in line with our estimates but better cash flow generation; guidance for 2023 also in line - Hochtief’s Q4 2022 results were in line with our estimates, with no significant P&L deviations: revenues € 7,096m (€ 72m or 1% above our € 7,024m estimate), EBITDA € 321m (€ 6m or 2% above our € 315m estimate), EBIT € 223m (€ 2m or 1% below our estimate of €225m) and net profit € 126m or 3% below our estimate (€ 130m). Guidance of € 510-550m operational net profit in 2023...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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