A significant provisioning impacted the results in H1 19. Offshore Energy remains spot market dependent, while the Dredging & Inland Infrastructure division remains the key contributor to the group’s performance. All in all, management gave a solid outlook for H2 19. Following this earnings release, we will revise our EBITDA forecast downwards by some 9%. This should result in a decrease of our target price by more than 10%. Despite this downward revision, we should stick with our B
04 Sep 2019
H1 19: better H2 expected, H1 impacted by provisions in offshore energy
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
H1 19: better H2 expected, H1 impacted by provisions in offshore energy
- Published:
04 Sep 2019 -
Author:
Felix Brunotte -
Pages:
3
A significant provisioning impacted the results in H1 19. Offshore Energy remains spot market dependent, while the Dredging & Inland Infrastructure division remains the key contributor to the group’s performance. All in all, management gave a solid outlook for H2 19. Following this earnings release, we will revise our EBITDA forecast downwards by some 9%. This should result in a decrease of our target price by more than 10%. Despite this downward revision, we should stick with our B