Rebond attendu de la marge brute en 2016 - ACHAT - OC 1,8€ (vs 2€)
Les résultats 2015 font ressortir une marge brute décevante du fait d’éléments conjoncturels et structurels qui ont pu être neutralisés en grande partie cette année. Par ailleurs, le ralentissement de la croissance et les pressions sur les prix du marché grand public observés depuis la fin de l’année dernière valident la stratégie de la société orientée vers les grands comptes. Afin de tenir compte de ces éléments nous abaissons nos CA et nos taux de marge brute sur la période 2016-2018. Notre nouvelle valorisation ressort à 1,8€ (vs 2€ préc). Nous conservons notre recommandation ACHAT considérant que la société va continuer à générer une croissance forte tout en augmentant ses marges, grâce à un mix produit de plus en plus favorable.Drone Volt SA. Drone Volt SA is a France-based company principally engaged in the aerospace industry. The Company provides civilian drone manufacturing. It specializes in the production, integration and sale of drones for professionals. Drone Volt is a provider of the audiovisual market in the field of aerial photography by drone. The Company is also present in many other markets such as security and topography, among others. The Company's main product is the Pack PRO FOR GH4 S900. It cooperates with Ministry of Internal Affaires, Ministry of Defense, CERN, Gendarmerie Transports Aeriens (aerial transport police), Dakar 2015, Spie, TF1, Bouygues, CNRS, Bonne Pioche, RAID and GEDEON Programmes, among others. It operates through Dandrone.
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.
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