2018 EBITDA is expected to be c.€3.35bn vs a reported 2017 EBITDA of €3.15bn. Following this earnings release, we will rework our model. We expect to lower our EBITDA forecast by some 4% for 2018 onwards and to keep our net debt forecast mostly unchanged, which should result in a decrease in our target price by some 5% to 10%. However, we expect an unchanged Buy recommendation.
27 Nov 2018
9m 18: staying the king of capital allocation isn’t an easy task
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9m 18: staying the king of capital allocation isn’t an easy task
CRH public limited company (CRH:LON) | 6,247 -874.6 (-0.2%) | Mkt Cap: 43,165m
- Published:
27 Nov 2018 -
Author:
Felix Brunotte -
Pages:
4
2018 EBITDA is expected to be c.€3.35bn vs a reported 2017 EBITDA of €3.15bn. Following this earnings release, we will rework our model. We expect to lower our EBITDA forecast by some 4% for 2018 onwards and to keep our net debt forecast mostly unchanged, which should result in a decrease in our target price by some 5% to 10%. However, we expect an unchanged Buy recommendation.