The group’s EBITDA increased by 15.3%. The EBITDA margin increased by 2.1pp to 15%, a level never before attained at the consolidated level. All business areas have contributed to this but it was mainly thanks to cement. Net financial expenses were cut by 29.7%, resulting in FCC’s attributable net profit amounting to €50.3m in Q1 18, a substantial increase on the €21.4m reported in Q1 17. Following this earnings release, we may upgrade our recommendation from Sell to Red
14 May 2018
Q1 18: outstanding performance with EBIT progressing by 39.4%
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Q1 18: outstanding performance with EBIT progressing by 39.4%
Fomento de Construcciones y Contratas, S.A. (FCC:FRA) | 0 0 0.9% | Mkt Cap: 3,516m
- Published:
14 May 2018 -
Author:
Felix Brunotte -
Pages:
3
The group’s EBITDA increased by 15.3%. The EBITDA margin increased by 2.1pp to 15%, a level never before attained at the consolidated level. All business areas have contributed to this but it was mainly thanks to cement. Net financial expenses were cut by 29.7%, resulting in FCC’s attributable net profit amounting to €50.3m in Q1 18, a substantial increase on the €21.4m reported in Q1 17. Following this earnings release, we may upgrade our recommendation from Sell to Red