Report
Nicolas David

Alten : Résultats S1 en-dessous des attentes mais confiance pour le S2 et pour 2024

>MOA et FCF S1 2023 inférieurs aux attentes - Alten a publié des résultats S1 2023 inférieurs aux attentes (le CA avait déjà été publié en juillet), avec une MOA de 9.2%, en baisse de 220 pb y/y et en-dessous des attentes (vs ODDO BHF : 10.3% ; Css : 10.1%), en raison d’une conjonction de plusieurs facteurs : i/ érosion du ratio prix/salaire (-30 pb); ii/ l’impact dilutif du M&A (-30 pb) ; iii/ augmentation de l’intercontrats suite aux lourds recrutements en amont d...
Underlying
Alten SA

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).

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Nicolas David

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