Vinci : Neutral recommendation maintained after a good H1
>Key takeaways from the analysts’ meeting - Vinci has reported interim earnings 1% above expectations at the EBIT level (see our First Take of 31 July). At the analysts' meeting, the group's management was particularly confident on momentum in both concessions and contracting. Management notably recapped on margin momentum.In H1, the group performed particularly well in motorway concessions (EBIT margin growth of 210bp) while traffic was stable. This growth is l...Vinci is engaged in building, civil engineering and facilities management. Through its subsidiaries, Co. is engaged in five divisions comprising of: the Building division which provides retail solutions including construction and fit-out in both the retail and commercial sectors; the Civil Engineering division; the Air division which provides program management, engineering and construction services to customers with airport infrastructure requirements; the Technology division; and the VINCI Facilities division which provides facilities management, repair and maintenance and small works in both the private and public sectors.
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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