HOCHTIEF : Results in line; positive bolt-on strategic acquisition announced; guidance reiterated
>P&L and cash generation -once adjusted- in line with consensus and our estimates - Hochtief’s H1 2024 operational results were in line with the consensus and with our estimates: revenues 0.1% above consensus and 0.3% below our estimates, operational PBT € 442m (0.3% below consensus; 0.8% above our € 439m estimate) and operational net profit € 301m (3.8% above css; 0.4% above our estimate) as the slightly higher EBITDA due to the strong performance at Turner, was part...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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