construction

European economy 24th March 2024

Heidelberg, Saint-Gobain, Wienerberger, construction stocks with most potential

Morgan Stanley: The construction sector (SXOP) trades at a premium in line with the 10Y average, not reflecting the increase in returns the sector has seen since 2018. According to Cedar Ekblom, 12M forward ROE SXOP/SXXP is 12% versus the 10Y average of -1%. Within the sector it is noted that the discount in valuation weighs more among heavyside companies, which trades at 11x P/E (-19% discount vs historical) against…

Spanish economy 12th March 2024

Construction employers’ association warns that 20% of concession contracts in Spain – bottom in Europe in terms of investment – are not awarded

The Association of Infrastructure Construction and Concession Companies (Seopan) has warned that up to 20.5% of concession contract tenders in Spain, already practically non-existent, remain deserted after no companies bid for them. The document highlights the scant relevance of concessions in Spain, representing only 3.4% of contracting, with an average of 1.9 bidders per contract and 2.2% of contracts not being awarded due to the withdrawal or resignation of the…

European economy 24th May 2023

Eurozone construction output, in seasonally adjusted data, declines by 2.4% in March

Link Securities| According to Eurostat on Monday, in March and compared to February, construction output in the Eurozone, in seasonally adjusted data, fell by 2.4%. In February, construction output had risen by 1.7% in the Eurozone, whereas in March, building construction fell by 2.4% and civil engineering construction by 2.3%. On a year-on-year basis, construction output decreased by 1.5% in the Eurozone, which compares negatively with the 2.1% increase recorded…

European economy, In Europe 2nd March 2023

Construction sector: 75% of Europe’s building stock needs energy improvements by 2030

Morgan Stanley : The Alphawise survey confirms that investment towards renovating Europe’s energy-inefficient buildings is on the rise and is essential to reach the NET ZERO target by 2050. In this regard, Cedar Ekblom (analyst) points to over €2.8tr of investments until 2030 and over €5tr until 2050. We analyse the possibilities for European stocks exposed to this dynamic in the note. An example of what lies ahead is that…

Spanish economy 15th February 2022

Road Maintenance Firms Demand To Compensate The Price Increase In Construction Materials

The Association of Infrastructure Maintenance and Operation Companies, (ACEX, in its Spanish acronym) demands that the Government approve price review mechanisms for new contracts for road maintenance services, as is already being applied by the Ministry of Transport and all its related public companies, the newspaper elEconomista.es reports today. It also demands that it also introduces compensation formulas for projects that are already underway, as the Executive intends to establish…

Spanish economy 7th June 2021

Public Works Tenders In Spain Could Rebound 41% This Year To 2010 Levels

Seopan, the employers’ association of large construction companies and infrastructure concessionaires, estimates that public construction tenders in Spain will grow by 41.5% in 2021 to 20.17 billion euros, which would mean almost 6 billion euros more than a year earlier and recover the levels of 2010.Moreover, taking into account the current pace, it calculates that awarding could close the year with an increase of 12.4% to 7.9 billion euros, which would mean 877 million euros more than in 2020 and return to 2011 values.

Spanish economy 6th May 2021

The Construction Sector Wants To Attract 200,000 Workers On Temporary Layoffs From The Hospitality Industry

The construction sector aims to take in workers who are currently on temporary lay-offs and who work in the tourism or hotel and catering sectors in order for them to be trained in the new techniques that are already being used in construction. In contrast to the evolution of these two sectors, still heavily affected by the pandemic and with companies in difficulties that could lead these workers to permanent unemployment, the construction sector has already recovered all the employment lost since the outbreak of the health crisis and even surpassed it.

Spanish economy 7th August 2020

Madrid To Build The Largest Urban Project In Europe Over The Next Decade

Madrid Nuevo Norte, the urban development in the north of the capital, received the latest and final approval in July. The project has been in the pipeline for 27 years, and now, coinciding with the health crisis, it is ready to go ahead in early 2021. This is considered the largest urban transformation initiative in Europe over the next decade and is a morale booster for Spain’s depressed construction sector after the strict confinement period.

Ibex, Markets 5th December 2017

Ferrovial Share Price Hit By 65% Drop In Construction Arm’s EBITDA

The weakness in Ferrovial’s share price compared with that of its peers is largely down to the erosion in the construction division’s EBITDA margin. This has declined by 65% to 2.6% for Ferrovial Agroman, and it’s not expected to recover until the beginning of 2019.

Spanish economy 10th February 2017

Spain’s Competitiveness Improves As Economic Growth Strengthens

Ofelia Marín- Lozano | The productive model of the future should focus on boosting the country’s competitiveness (where education, the family, discipline and the incentive to do a good job are a necessary start). But sectors like construction should also be encouraged to recover their lost protagonism.

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