Danken Building Materials to Pay Up for $5 Billion in Sales
Posted March 24, 2018 09:57:20Danken’s building materials could pay a major premium in the next year or two if they sell off, a financial analyst said Thursday.
The company, which is one of the world’s largest builders of concrete, said Thursday it expects to post a profit of about $5 billion, based on revenue of about 7 billion euros ($8 billion) this year.
The firm also expects the value of its shares to increase, and expects to generate around 10 billion euros by 2020.
The stock is trading at around 13.3 euros, about half the value that it reached in February.
Dankens products, including concrete, are being marketed in countries including Russia, China and France, according to the company.
The German-based firm said the company will not report its results until 2020, although it said it expects the results to be released in the first quarter of 2021.
Danks stock rose 1.7 percent to 898 euros at midday in Frankfurt.