Vicat rises after upgrading FY core profit target

Vicat SA

08/11/2023 08:47

** Shares in Vicat  VCTP.PA  are up 6.1% after the French
construction sector company increased its full-year core profit
target
    ** The group now expects to its 2023 EBITDA to reach at
least 700 million euros ($747 million), previously expecting it
to be above 619 million euros, its 2021 level
    ** The new guidance "implies a significant acceleration in
LFL organic EBITDA growth in H2," a Barclays broker note says
    ** The broker also sees "various drivers likely to drive
EBITDA progress in the next two years that remain overlooked,"
including gains from price hikes introduced by the company in
Senegal and future infrastructure works
    ** Q3 sales came in at 86 million euros, 4% above Barclays
estimate
    ** Shares track best day since February


($1 = 0.9368 euros)

 (Reporting by Victor Goury-Laffont)
 ((Victor.goury-laffont@tr.com))