HOCHTIEF : Results on track to meet our full year figures but focus remains on cash flow
>No cash burned (or generated) when adjusted for factoring and supply chain financing - Cimic’s Q3 2021 results were roughly in line with our estimates (EBIT and net profit 3% and 2% below respectively) and are therefore on track to reach our FY estimates. The previous guidance was reiterated. The company continued to reduce factoring and supply chain financing, AUD 238m and AUD 24m respectively. The backlog remained strong (AUD 35.1bn) and the company was adamant on...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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