Report
Bruno Cavalier ...
  • Emmanuel Matot
  • Ghada Ben Sedrine
  • Nicolas David
  • Sinan Doganli
  • Thomas Zlowodzki

ODDO BHF SECURITIES Small & MIDCAP MORNING NEWS – 04/22/2025

Underlyings
Accenture Plc Class A

ADESSO AG

Adesso AG is a Germany-based information technology (IT) service provider focused on developing customized software solutions. It provides business consulting, IT consulting, software development, IT management, and solutions, including drebnis, a claims management system; inSIGHT, a data transport tool; inFOCUS 360, a direct channels to customer tool; inBOUND, a Web service for regionalization of agen-managed lottery gaming; inRELATION, a mutli-channel sales for insurers with Microsoft Dynamics CRM tool, and Mobile Rettern, a smartphone-based first-aider notification system. The Company cooperates with various IT partners and uses the Java, Microsoft and Mainframe technologies in its practice and projects. The Company is active in Germany, Austria, Switzerland, the United Kingdom, Turkey and the United States and operates a number of subsidiaries, including Adesso hosting services GmbH, Turkey Bilgi Teknolojileri Ltd, Smarthouse Media GmbH, flitcon GmbH and Born Informatik AG.

Allgeier Holding AG

Allgeier is an information technology (IT) company for business performance. Co. develops and completes software for digital network operators, trade applications and cloud computing users. Co. also provides integrated systems for inventory control systems, document management, integrated mail systems, and eCommerce. In addition, Co.'s operative business is classified into three segments: Solutions, Experts and Projects, which are spread across four relevant markets: IT Services, Software, IT Hardware, and Information Technology. Co.'s main customer base includes, the banking, finance, and insurance sectors.

Alten SA

Alten is a holding company. Through its subsidiaries, Co. operates in three areas: Engineering and Technology Consulting (ETC), Telecoms Networks and Multimedia, and Information Systems (NTIS). Through the Engineering and Technology Consulting (ETC) segment, Co. studies and designs technology products for technical divisions in industry and telecoms. The Telecoms Networks and Multimedia segment focuses on Product design, Architecture, deployment, and operation of networks. Lastly, the IT systems segment comprises Applications and software development, and Infrastructure and Telecoms (Applications, systems and networks Corporate telecommunications).

Assystem SA

Assystem SA is a France-based company that is principally engaged in engineering and innovation consultancy. The Company offers solutions within a number of sectors, such as Aerospace, Defence, Energy, Nuclear, Life Sciences, Infrastructure, Automotive and Transport. The Company develops the infrastructural engineering and externalized R&D services. It's activities include managing infrastructural investments, from conception to dismantling; aerospace mechanical engineering, providing technical services to aerospace, engine and automotive manufacturers and technology & product engineering, providing services in transport, defense, product hardware and software development. The Company is present Europe, North America and Asia. The main shareholder of the Company is HDL Developpement SAS. It operates through Onyx Promavi, Batir Group, Edison Technical Recruitment Ltd, Radicon Gulf Consult, Engineering Partner Automotive Nordic AB and The Biotech Quality Group, among others.

Atos SE

Atos is an international information technology services company operating in 52 countries. Co.'s customers are sectors like Public Sector and Utilities, Telecoms and Media, Financial Services, Process Industries and Discrete Manufacturing and Consumer Products and Retail. Co. operates in seven geographical segments: Germany; France; Benelux and The Nordics; U.K. and Ireland; Atos Worldline; Central & Eastern Europe; North America; Iberia; and Other Countries. Co. delivers IT services through the following five segments: Managed Services, Systems Integration, Consulting, Worldline: ePayment Services, and Cloud & Enterprise Software.

Aubay SA

Aubay SA is a France-based company engaged in the Information Technology (IT) industry. The Company designs architecture of information systems, develops and facilitates content management, designs and develops secured IT networks, offers consulting on telecommunication strategies, provides network engineering, handles engineering projects and outsourced research. It also develops projects and offers facilities management solutions, among others. The Company's products are sold to the sectors of defense, aeronautics, energy, banking, insurance telecommunications, as well as transport and rail sectors. It has developed two service centers: The Dedicated Service Centre includes the technical platform, the premises and all the resources that are dedicated to a single customer; the Pooled Services Centre, which covers the resources, tools and processes pooled for a group of customers. It has such subsidiaries as Aedian SA and Aubay SA, Norma 4 Servicios Informaticos SA, among others.

Bechtle AG

Bechtle is engaged in the business as an information technology (IT) dealer. Co. provides IT services combining with online marketing of IT products. Co. provides vendor-independent, IT portfolio to its customers from the fields of industry and trade, the public sector and the financial industry. Co. operates within two segments: IT system house & managed services segment, which provides its customers with IT strategy consulting services, hardware and software, project planning and implementation, system integration, IT services, training and IT operation; and the IT e-commerce segment, which comprisesCo.'s Internet, catalogue and telesales trading activities.

CANCOM SE

Cancom is an information technology ("IT") systems vendor. Co. is engaged in the provision of information technology (IT) products and services. Co. divides its products and services in four divisions: IT solutions, providing security, network and system solutions, communication, storage, backup and archive services, and IT management; IT services, offering rollout, installation, move, add, change (IMAC) of IT solutions, support and repair, and managed services; IT operations, providing remote management, outtasking and outsourcing, and Hard and Software, supplying hardware, software and accessories.

Capgemini SE

Capgemini is a consulting and IT services provider. Co. works closely with technology partners at the cutting edge of innovation in major trends such as: Cloud, Big Data and mobility. Co. offers its clients skills in a variety of fields, such as digital transformation and digital customer experience, Cloud, Big Data, mobility, testing, cyber security, application management. In addition, Co. helps its clients enhance their performance and sharpen their competitive edge by offering them a range of skills grouped around four major businesses: Consulting Services through Capgemini Consulting, Technology Services (TS), Local Professional Services through Sogeti, and X Outsourcing Services (OS).

Carmila SAS

Carmila SA, formerly Cardety SA, is a France-based company that operates in the real estate investment sector. The Company is primarily engaged in the acquisition, holding and managing of commercial real estate assets for lease. The Company's real estate assets include a supermarket under the ED brand in Forges-les-Eaux, a shopping center in Pau Lescar, a retail park in Mondeville, a shopping mall in Besancon Chalezeule, a building complex in Salaise-sur-Sanne and a business park project in Quetigny.

CTAC N.V.

Ctac is an Information and Communication Technology (ICT) service supplier based in the Netherlands. Co. specializes in setting up, maintaining and updating its clients' ICT infrastructure, offering them customized products and services at the interface of business and ICT. In addition, Co. offers business consultancy services and Composed Solutions (modular cross-industry solutions). Co. is also a Systems Applications Products (SAP) Gold Partner and Microsoft Gold Partner, engaged in SAP reselling to medium-sized companies in the Netherlands. Co. spreads its business activities across four focal areas: SAP services, Managed services, Microsoft services, and other services.

Econocom Group SE Class D

Econocom Group specializes in the management of IT and telecom infrastructures for businesses throughout Europe, U.S. and China. Co. designs and implements products and services for SMEs, corporations or public authorities. It operates through four complementary businesses: IT products and solutions, distributed infrastructures (outsourcing, maintenance and consulting), telecom services and administrative and financial management of ICT assets. Co.'s business segments are as follows: IT Financial Services; Managed Services; Products and Solutions; and Telecom Services.

EXCLUSIVE NETWORKS SA

Faurecia SA

Faurecia is an automobile equipment supplier based in France. Co.'s activities can be divided into four business units: Automotive Seating (design of vehicle seats, manufacture of seating frames and adjustment mechanisms, and assembly of complete seating units); Emissions Control Technologies (design and manufacture of exhaust systems); Interior Systems (design and manufacture of instrument panels, door panels and modules, and acoustic components); and Automotive Exteriors (design and manufacture of front ends and safety modules). Some of Co.'s customers are PSA Peugeot Citroen, VW Group, Renault-Nissan, Ford Group, BMW and GM Group.

Gaztransport & Technigaz SA

Gaztransport & Technigaz is an engineering company specialized in membrane containment systems for liquefied gas transport and storage. Co. designs and markets technologies which combine operational efficiency and safety to equip liquefied natural gas (LNG) carriers, LNG floating platforms and multi-gas transport vessels. Co. also provides solutions for onshore storage tanks and the use of LNG as a fuel for vessels propulsion as well as a wide range of services in engineering, consultancy, training, maintenance assistance and technical studies at each stage of the liquefied gas chain.

Indra Sistemas S.A. Class A

Indra Sistemas is engaged in the design, development, manufacture, assembly, repair, and installation of computer software and applications. Through its subsidiaries, Co. is engaged in consulting, graphic design and multimedia, web design and marketing, internet development and electronic trade, systems integration and hosting geared business to business and business to consumer, as well as in internet financing and electronic marketing. Co. serves defense and security, transport and traffic, energy and industry, telecom and media, finance and insurance, and public administration and healthcare markets. Co. operates primarily in Europe, the United States, Canada, and Latin America.

Infotel SA

Infotel is a group of consulting companies and a global software vendor. The Group has developed a complete service offering and a range of software for enterprise servers. Co. provides consultancy, analysis, IT system audits, third-party application maintenance and software testing solutions. Co. designs and implements, as service contracts or service desk, management projects by implementing advanced methods and technologies, from mobile technology to databases. Co. has developed software to assist customers in areas such as DB2® (security, performance and management), data management and archiving, web-enables or quality applications and relational database performance.

Interparfums

Interparfums SA. Interparfums SA, also known as Interparfums, is a French-based company engaged in the design, manufacturing and marketing of fragrances. The Company designs, produces and distributes perfumes and cosmetics under such brands as Burberry, Boucheron, Burberry Beauty, Jimmy Choo, Lanvin, Montblanc, Nickel, Paul Smith, Repetto, S.T. Dupont and Van Cleef & Arpels, Karl Lagerfeld, among others. The Company is present in Switzerland, Germany, Spain, Italy, the United Kingdom, Singapore, the United States, among others. The Company operates through the subsidiaries, including Interparfums Suisse Sarl, Interparfums Deutschland GmbH, Interparfums Srl, Interparfums Ltd, Interparfums Luxury Brands and Interparfums Singapore. As of December 31, 2013 the Company's shareholder was InterParfums Holding with 73,1% stake in the Company.

IONOS GROUP SE

Marie Brizard Wine & Spirits SA

Marie Brizard Wine & Spirits is a wine and spirit company which is engaged in the production and distribution of wines and spirits mainly in Europe and in the U.S.A. Co.'s products can be divided into three categories: Vodka and Spirits, Wines, and Other beverages. Co. develops a portfolio of spirit brand with in particular: Youri Dolgorouki; Sobieski; Marie Brizard; Old Lady's; Berger; “PL Polonaise”; Starogardzka; Balsam Pomorski; Krakowska; Zawisza. Co. operates geographically in Poland, Western Europe, Lithuania, Bulgaria, and Other countries.

Reply S.p.A.

Reply is engaged in the provision of consulting, system integration and digital services, dedicated to the creation, design and implementation of solutions based on new communication channels and digital media. Co. is consisting of a network of specialist companies, supports European industries belonging to the Telco & Media, Manufacturing & Retail, Bank & Insurances and Public Administration segments, in defining and developing new business models utilizing Big Data, Cloud Computing, CRM, Mobile, Social Media and Internet of Things paradigms.

Sligro Food Group N.V.

Sligro Food Group NV is a company engaged in the food distribution industry, based in the Netherlands. It divides its business into two segments: Food Retail activities comprise around 130 full-service EMTE supermarkets with 30 operated by independent retailers; Food Service offers nationwide network of cash and carry and delivery service outlets serving large and small-scale hospitality, establishments, leisure facilities, volume users, company and other caterers, forecourt retailers, small and medium-sized enterprises, smaller retail businesses and the institutional market. The Company serves the institutional market trading under the name Van Hoeckel and the other segments of the market as Sligro. The Company's subsidiaries include CaterTechBV and Bejaco NV, including its subsidiaries JAVA BVBA and Freshtrans BVBA, jointly known as JAVA Foodservice.

Sopra Steria Group SA

Sopra Steria Group is a global player in IT services, with operations in consulting, software development, and integration. In addition to France, Co. operates in the United Kingdom, Spain, Italy, Switzerland, Germany, and Belgium, assisting its clients in managing the transformation of their businesses and information systems. Co. divides its operation into three categories: Consulting, Systems and Solutions Integration, and Software Development; which it spreads among eight major verticals: Financial Services, Insurance and Social Welfare, Public Sector, Telecom Operators, Aerospace and Defense, Energy, Transport and Courier Services, and Retail.

SQLI SA

SQLI SA is a France-based company that specializes in the design and creation of Information Technology (IT) systems. The Company specializes in implementing information systems based on new technologies. It operates in Business Information Systems sector, Digital Enterprise sector, E-commerce division, Communication and Organisation and management divisions. SQLI SA works with its clients from the consulting stage, through the design and installation processes, to the training and monitoring phase. The Company operates a network of offices in France, Benelux, Switzerland, Morocco and Canada, among others. It operates through brands: Wax Interactive and SQLI Enterprise. The Company has such subsidiaries as LSF Interactive, digital agency of marketing and communication, InventCommerce Ltd, a London-based Internet service provider and Star Republic, among others.

Sword Group SE

Sword Group is a service company specializing in computer engineering, offering consulting and integration services to its customers. Co. is engagedin the implementation of innovative solutions that meet the strategic needs of its clients and adaptation requirements of their information systems. Co.'s business covers three main areas: IT Service, Solutions and Communication Technologies. In addition, Co. also provides Government Risk Management (GRC) solutions to its customers in the industries of energy, transportation, healthcare, insurance, banking, telecommunications, and international and governmental organizations. Co. offers two product lines and four solutions.

TietoEVRY Oyj

Tieto is an IT services company in the Nordics providing full lifecycle IT services. The reportable operating segments in service line dimension are Managed Services, which is an IT infrastructure and cloud provider that provides enterprise platform services and end user solutions; Consulting and System Integration, which provides consulting and system integration services, application management and transformation consulting; Industry Products, which provides industry-specific software products and productized solutions; and Product Development Services, which provides services in the field of communications and embedded technologies for a global customer base.

Verneuil Participations

Verneuil Finance SA Formerly known as Verneuil Participations. Verneuil Finance SA, formerly known as Verneuil Participations SA, is a France-based investment company. The Company acquires shares in companies operating in a number of sectors, including the wood, real estate hotel promotion food processing and the leisure sectors. The Group operates its businesses through Societe Francaise de Casinos and Financier Duc. Through Societe Francaise de Casinos the Company offers a number of services, such as slot machines, games, shows & entertainment and restaurant and private reservation services, among others. The Company reports the leisure sector as its main activity.

Wavestone SA

Wavestone SA, formerly Solucom SA, is a France-based company active in the information technology (IT) sector. It provides infrastructure consultancy services in the fields of telecommunications and networks, Strategy & management, IT transformation, IT Governance, IT architecture and Security & risk management. The Company operates through subsidiaries: Arcome, which offers marketing and technological innovation services for global companies in the information technology industry; Idesys, offerring consultancy services in the management and governance fields; New'Arch, which provides consultancy services in technical architecture of information systems; KLC, which offers consultancy services in information system and industrial investments for corporate clients; Cosmosbay-Vectis that offers business development and transformation consulting, and Xceed Group Ltd, which provides computer related services, among others.

Xior Student Housing N.V.

Xior Student Housing NV is a Belgium-based company active in the field of residential Real Estate. The Company's offer is mainly for students and it includes several types of rooms for rent, including a student house in Leiden.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Bruno Cavalier

Emmanuel Matot

Ghada Ben Sedrine

Nicolas David

Sinan Doganli

Thomas Zlowodzki

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