reports
ALDESA - 2Q16 RESULTS
Aldesa, the Spanish engineering firm, put in a weak 2Q16 performance as the lack of orders in the previous quarters started to bite on revenue, while the political deadlock in Spain hit project execution and cash collections.After five quarters of vibrant growth, restricted sales dropped 11.3% yoy (-3% excluding forex headwinds) to €190m and EBITDA shrank 17.9% to €9m, well below our forecasts of €222m and €12m respectively. In Spain (23% of sales), despite a sizeable backlog, execution ...
ALDESA - 4Q15 RESULTS
​Aldesa, the Spanish engineering firm, released final 4Q15 results while giving a muted guidance for 2016 in the accompanying call. Main items had been previously released on March 16, evidencing a decent 4Q15 operating performance with restricted sales up 21% yoy to €228m, EBITDA €4m higher to €18m, and restricted net leverage curbed to 1.2x from 1.8x a year earlier.
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