Le succès des drones l’emporte sur le décalage Auto - ACHAT - OC 24,7€ (vs 23,5€)
PARROT a publié des résultats T3 14 marqués par la confirmation d’un retour à la croissance tiré par l’activité « Drones ». L’amélioration de la marge brute confirme par ailleurs que Parrot est capable de maintenir une rentabilité élevée malgré le lancement de nouveaux produits. Cette publication nous incite à revoir à la hausse (51% vs 48,5%) notre prévision de MB sur l’année et nous conforte dans nos prévisions de CA (mais avec un mix produit beaucoup plus en faveur de l’activité Drones), Parrot étant positionnée pour réaliser un excellent T4. Si nous décalons la montée en puissance de l’infotainment avec un impact sensible sur nos BNA 2015-2016 (-34,4%/+37%), nous restons à l’ACHAT avec un objectif relevé à 24,7€ (vs 23,5€).Parrot is a global player in wireless mobile phone accessories, specialized in designing and marketing wireless devices for mobile phones. Co. activities cover both retail customers (installed hands free kits, Plug & Play hands free kits and Multimedia products), and auto industry professionals. Co. developed three retail product ranges: two for vehicles and one for the house. Vehicle products are hand-free kits installed, in most cases, by professionals after vehicle purchase; and Plug & Play products, which are hands-free systems usable upon purchase. House products include multimedia products, allowing users to share multimedia contents on mobile phones.
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