Alten : Set for gradual improvement in 2024 while the valuation remains modest
>Largely unsurprising 2023 results - To recap, Alten on Thursday posted broadly satisfactory 2023 results (sales had already been reported in January), with an adjusted operating margin of 9.4%, close to expectations (vs ODDO BHF: +9.3%; css: 9.5% pre-release). This performance was affected by the integration of less profitable companies, a satisfactory activity rate albeit lower than that of 2022, which was exceptionally strong, as well as higher structuring expenses...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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