Vers une progression de la marge à moyen terme - ACHAT - 75€
Les résultats 2016 ont été mal accueillis par la Bourse hier (-4,5%), après un niveau inattendu de charges exceptionnelles (redressement URSSAF et plan d’actions gratuites). S’il est vrai que le groupe subira en 2017 un effet calendaire défavorable (-0,6pt sur la marge d’EBITA) et un nouvel impact de son plan d’actions gratuites (14m€ estimés), nous pensons que la vraie bonne nouvelle de cette présentation est l’identification par le management de leviers d’amélioration de la marge qui impacteront les résultats dès 2018. ACHAT maintenu avec un objectif à 75€.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).
Since 2006, Invest Securities has become one of the leading players in investment services for funds and managers, to whom we offer a global and personalised service. Our track record differentiates us and proves our leadership in numerous promising sectors like property and growth companies.
Consisting of 13 different profiles (pharmacist, engineer, financier, etc), the DNA of our financial analysis office is value added and sector expertise. Through daily monitoring and detailed analyses of companies and sectors, we seek to provide a differentiating vision of our 120 stocks followed. Our ideas are circulated every day to nearly 1,000 professionals.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.