HOCHTIEF : P&L in line, challenge on cash flow to be felt, again, over the year
>P&L in line but working capital ‘seasonality’ poses uncertainty once again - Hochtief’s Q1 2022 results were in line with our estimates with no significant P&L deviations: revenues € 5,333m (€ 2m or 0% above our estimates), EBITDA € 269m (€ 6m or 2% below our estimates), EBIT € 202m (€ 4m or 2% above our estimates) and net profit € 106m (€ 4m or 4% above our estimates). Net debt, however, increased by € 907m, as a result of € 364m being deployed to acquiring shares o...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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