AKKA Technologies : Lukewarm Q2 and ongoing drop in employee numbers, but guidance reiterated
>Q2 organic growth slightly below expectations at +5.1% - Yesterday evening Akka Technologies reported Q2 2019 sales of € 445m, up 24% yoy, 2% below expectations (consensus: € 453m). Organic growth came to 5.1%, below our forecast (Oddo BHF estimate: 6.9%) and slower than Q1 2019 (6.6% LFL). France accelerated with Q2 sales of € 162m and 11.0% organic growth (vs +5.4% in Q1) strongly beating our forecast (Oddo BHF estimate: € 152m, +6.0% LFL). On the other hand, Germa...Akka Technologies is an engineering and technology consultancy company. Co. bases its service around two areas which enable it to cover the full life cycle of a product: information and systems technology and engineering. Co.'s activities can be divided into six areas: Mechanical Engineering, Process Engineering, Document Engineering, Industrial Information Technology and Embedded Systems, Information Systems and Consulting. Co. operates mainly in France, Belgium and Germany. Co also operates in Italy, Romania, Switzerland, Spain, England and Canada.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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