Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on ELECNOR SA. We currently have 4 research reports from 1 professional analysts.
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Revenue above €2bn for the first time
07 Mar 17
Elecnor reported FY16 results, above expectations on revenue and EBITDA, but below our forecast on net profit. - Revenue reached €2,035m (up 8.2%) - The adjusted EBITDA has risen by 6.7% to €291.7m - The consolidated EBITDA has risen by 8.9% to €244.3m - Net profit amounted to €68.5m (up 4.3%) - Net corporate financial debt was set at €272m (vs €280m in the previous financial year) - The international market represents 55% of the total distribution of turnover
Good performance in H1, helped by foreign activities
04 Aug 16
Elecnor released its H1 with a revenue reaching €894.3m vs €833.7m one year ago, while the EBITDA grew by 19% to €102.3m. The company’s net profit reached €32.56m vs €31.25m a year earlier. Geographically, the international market now represents 53.5% of total revenue while the domestic market (Spain) represents the remaining 46.5%.
Upturn in Spain is confirmed
13 May 16
Elecnor reported some (limited) figures for Q1 16 Main facts: Q1 16 revenue reached €416.2m, up 6.5% yoy (€390.7m). The backlog amounted to €2,544m, of which 80% corresponding to international markets. The consolidated net profit was €19.3m, up 4.4% yoy from €18.5m in Q1 15. The company gave no guidance for 2016.
Mixed results and focus on deleveraging
11 Mar 16
Elecnor reported its FY15 results showing limited progress yoy. Main facts: Sales reached €1,881m in 2015, up 9.1%, with international markets accounting for 55% and Spain for 45%. The backlog stood a €2.5bn, up 3.5% yoy, with international orders accounting for 84%. EBITDA was mostly flat yoy at €224m (vs €229m in 2015) while operating profit was 7.8% lower, which may be due to start-up costs in coutries where the company has begun operating, such as North America, and new strategic alliances. The pre-tax profit was €129m, up +11%, and the net profit surged 12% to €65.7m. The net corporate debt was €280m vs €380m in 2014, down 19.5%.
The tide is turning
20 Apr 17
Any investor worth their salt knows it is impossible to precisely call a bottom in a particular stock. For Gattaca, though, we believe this moment has now passed given the compelling valuation (6.9x EV/EBIT vs 9.8x sector average), attractive 9.8% unlevered cashflow yield and constructive secular trends supporting its specialist markets. Sure, Net Fee Income (NFI) like-for-likes (LFL) have fallen of late, yet equally there are now early indications that organic growth may soon turn positive.
19 Apr 17
We take a look at the supply and demand dynamics of the world’s largest diamonds. Less than 200 very large (>200 carat) gem quality diamonds have ever been found, yet 23 of these have been found in the past three years. This dramatic increase is being driven by a combination of the rapid increase in the number of billionaires and hence price and demand, combined with technological developments that have improved large diamond recovery and a certain amount of geological good luck.
19 Apr 17
Lombard Risk Management* (LRM): Beats demanding growth and profit forecasts (CORP) | Frontier Developments* (FDEV): Steaming ahead (CORP) | Tax Systems* (TAX): Right place, right time (CORP) | Acal (ACL): Stronger H2 and brighter outlook (BUY) | Fenner (FENR): Interim results signal upgrades (BUY) | Minds + Machines* (MMX): US and Europe domain sales (CORP)
N+1 Singer - Small-cap quantitative research - Growth style screen revamp and 10 focus stocks
06 Apr 17
We have reviewed the performance of our consistent growth screen since the previous refresh on 27 September 2016 and revamped the selection parameters to focus more on forecast sales and EPS growth going forward. In the period under review the consistent growth style screen outperformed the small-cap benchmark by c. 6% and underperformed the microcap index by a similar amount. Interestingly, although growth doesn’t always seem to be defensive as might be expected, however it appears right to buy growth on dips caused by or coincident with wider market volatility. In the new forecast growth screen we take a close look at 10 focus stocks. We will monitor performance and refresh it in three to four months time.