Sacyr has improved its net profit for four consecutive years and its operating cash flow for two consecutive years. Now, more than 75% of EBITDA stems from concessions (€414m in 2018 vs €100m in 2014). On top of this, management has reduced the net indebtedness by some 80% (€1.1bn in 2018 vs €5.1bn in 2014) thanks to a focus on cash management (€412m in 2018 vs €43m in 2014). Bottom line: Sacyr deserves its Buy recommendation and remains currently undervalued.
....03 Mar 2019
FY18: good earnings release paves the way for further improvement in FY19
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FY18: good earnings release paves the way for further improvement in FY19
Sacyr SA (VHM:STU) | 0 0 2.6% | Mkt Cap: 1,382m
- Published:
03 Mar 2019 -
Author:
Felix Brunotte -
Pages:
3
Sacyr has improved its net profit for four consecutive years and its operating cash flow for two consecutive years. Now, more than 75% of EBITDA stems from concessions (€414m in 2018 vs €100m in 2014). On top of this, management has reduced the net indebtedness by some 80% (€1.1bn in 2018 vs €5.1bn in 2014) thanks to a focus on cash management (€412m in 2018 vs €43m in 2014). Bottom line: Sacyr deserves its Buy recommendation and remains currently undervalued.
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