Infotel - The decline in the banking sector continues
Q3 sales still down by 1.6%, although we were expecting better after the downturn in Q2Service activities in the banking sector were down by almost 10%, after falling by 7% in Q2The rest of the business remained up by around 5%.Despite this disappointing performance, management has confirmed that it expects H2 EBIT margin to be at least equal to H1, bearing in mind that Infotel can adjust its use of subcontracting.We have lowered our growth forecasts for the next 3 years by 3% and our price target by 8%.Newsflow does not look good, as the Group could revise downwards its 2026Infotel 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.
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