Report
Maxime Kogge

Webuild : Emerging stronger from the pandemic?

Webuild's spreads have hit their three-year lows. Yet in 2020 investors endured bouts of volatility as construction was one of the sectors worst hit by the covid crisis and Webuild's results took a severe hit. That said, government stimulus plans led the group to restore cash flow in H2 and bode well for coming years. Bond valuation is stretched, however. Although we are positive on the group's long-term trajectory, we continue to have misgivings about short-term setbacks. As a m...
Underlying
Webuild S.p.A.

Salini Impregilo is engaged in the water segment. Co. is organised according to the distribution of its activities into its various segments: Corporate, which is engaged in the coordination and supervision of Impregilo S.p.A.'s main investments; Construction, which consists of the business headed by Impregilo S.p.A.; Concessions, which consists of the business coordinated by Co.'s subsidiary, Impregilo International Infrastructures B.V. (the Netherlands) and carried out through subsidiaries, jointly controlled entities and associates; as well as Engineering & Plant Construction, which consists of the business headed by FISIA Italimpianti and FISIA Babcock Environment (Germany).

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Maxime Kogge

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