HOCHTIEF : Q4 results in line with expectations. Confident about 2021
>Q4 2020 results in line with expectations despite lower sales - Yesterday, Hochtief reported 2020 results broadly in line with expectations, after the publication of Cimic’s results last week (see our comment of 10 February). Over Q4, sales declined by 28.9% to € 5,046m (consensus at -17%). America (-20.1%) showed the biggest drop after APAC, while Europe was almost stable (-1.3%). However, the margin increased both in Europe (+70bp on the operating margin...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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