HOCHTIEF : In-line results on P&L, with a positive quarter on cash flow
>A partial working capital recovery that narrows down the challenge for H2 - Hochtief’s Q2 2023 results were in line with our estimates, with no significant P&L deviations: revenues € 6,827m (€ 6m or 0% below our € 6,833m estimate), EBITDA € 303m (€ 2m or 1% below our € 305m estimate), EBIT € 235m (€ 12m or 6% above our € 223m estimate) and net profit € 134m (€ 3m or 2% above our € 132m estimate due to lower D&A and financial expenses being almost fully offset by high...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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