ADP’s H1 results were mixed, with the top line and EBITDA above expectations while impairments drove operating profit below the street’s expectation. The recovery in traffic is likely to be slower than previously thought, but the scaling down of capex as well the positive implementation of cost containment measures should offset part of this effect. No change in opinion.
28 Jul 2020
Q2 20: slower recovery expected
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Q2 20: slower recovery expected
Aeroports de Paris ADP (ADPA:WBO) | 0 0 1.3% | Mkt Cap: 16,338m
- Published:
28 Jul 2020 -
Author:
Hugo Paternoster -
Pages:
3
ADP’s H1 results were mixed, with the top line and EBITDA above expectations while impairments drove operating profit below the street’s expectation. The recovery in traffic is likely to be slower than previously thought, but the scaling down of capex as well the positive implementation of cost containment measures should offset part of this effect. No change in opinion.