Alten : H1 2023 earnings below expectations but confidence in H2 and 2024
>Operating margin on activity and FCF for H1 2023 short of expectations - Alten released H1 2023 earnings short of estimates (sales had already been reported in July), with an operating margin on activity of 9.2%, down 220bp y-o-y and below forecasts (vs ODDO BHF: 10.3%, consensus: 10.1%), due to a combination of several factors: i/ erosion of the price/wage ratio (-30bp); ii/ the dilutive impact of M&A (-30bp); iii/ an increase in the between-contract rate following ...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).
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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