Home » Economy » Swiss construction group – Implenia share plunges after disappointing half-year figures News

Swiss construction group – Implenia share plunges after disappointing half-year figures News

Thursday, August 24th, 2017 | Economy

The figures presented in the morning were far behind the expectations as a whole, and the adjustments made and, last but not least, the prognosis reduction also caused disappointment. The high order backlog and cash flow development are positive.
At 10 o'clock Implenia is 9.7% lower at 62.90 Swiss francs. The overall market (SPI) is currently at the previous day's level.
The half-year result 2017 was disappointed, summarizes ZKB analyst Martin Hüsler and means the new value adjustments in Norway and value adjustments in the case of Letzigrund. Although the remaining business units are on course and the high order backlog as well as the cash flow development are a "bright spot". Nevertheless, the bank will "correct downwards" the forecasts. The rating is also in revision.
Bank Vontobel is also worried. Yesterday's earnings warning from competitor Porr had already indicated the risks in the construction sector and the figures of Implenia have confirmed this, writes the bank in a first comment. In addition to the half-year figures, which were significantly lower than expected, one also worried about the fact that the comparative figures for the first semester 2016 had to be corrected on the reporting date. In addition, since the market assessment of the share is still too positive, the estimates are clearly reduced and the rating as well as the price target, which were previously stated as "Hold" and 72 francs, are being checked.
(AWP)

Related

Bitcoin Price November 2014

Bitcoin Price November 2014 Bitcoin is a worldwide cryptocurrency and digital payment system:3

Suspect arrested after car attack on sol

After a car attack on soldiers near Paris with six injured a suspect

Sinead O'connor Water Horse

Sinead O'connor Water Horse Sinead O'connor Water Horse Vlogs Watch the Sinead O'Connor

Marcel Schrötter sets out in Brno - Ope

05. August 2017 – 12:45 Marcel Schrötter has to retire from the Grand