Ferrovial is a very complex company. In H1 18, the financial performance was impacted by the €237m charge booked in Q1 18. But the developments in the toll roads and airports division are encouraging in terms of traffic. Overall, following this earnings release, we will revise our model. We don’t expect a change in recommendation as Ferrovial will clearly remain value-destructive in FY 18.
01 Aug 2018
H1 18: financial performance impacted by the €237m charge booked in Q1
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H1 18: financial performance impacted by the €237m charge booked in Q1
Ferrovial SE (FER2:WBO) | 0 0 2.1% | Mkt Cap: 12,921m
- Published:
01 Aug 2018 -
Author:
Felix Brunotte -
Pages:
3
Ferrovial is a very complex company. In H1 18, the financial performance was impacted by the €237m charge booked in Q1 18. But the developments in the toll roads and airports division are encouraging in terms of traffic. Overall, following this earnings release, we will revise our model. We don’t expect a change in recommendation as Ferrovial will clearly remain value-destructive in FY 18.