Sopra Steria Group: H1 2018 results below consensus due to seasonality; FY18 guidance reiterated
Sopra Steria Group: (BUY, Fair Value Fair Value EUR201 (+16%))H1 2018 results below consensus due to seasonality; FY18 guidance reiterated
This morning, Sopra Steria reported H1 2018 results below consensus due to seasonality, impacted by investments in HR, offerings and R&D in the UK and at Sopra Banking Software. The reiteration of FY18 guidance implies that the operating trend will reverse in H2 in these two business units. We expect the share price to consolidate in the short-term.
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.
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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