Report
Nicolas David

Altran Technologies : 2022 prospects are attractive, but FCF is disappointing

>Attractive prospects, but lack of positive signals - Altran has unveiled attractive prospects, which would justify an increase in its valuation multiples. However, the meeting of 2022 targets is subject to the upturn in profitability in Germany - which remains a complicated market for outsourced R&D - and the harnessing of € 150m in cost and revenue synergies at the EBITDA level, staggered out to 2020. In the meantime, the group underperformed its peers in terms of o...
Underlying
Altran Technologies SA

Altran Technologies is a global player in the advanced engineering and innovation consultancy market, operating in more than 20 countries, particularly in Europe, Asia and North America. Co. advises and accompanies clients in creating and developing new products and services, intervening during the strategic planning stages of new technologies and offering products support and services throughout all developmental phases. Co. offers its consulting services as technical backing, project support and end-to-end services, providing deliveries of customized products. Co. operates in two segments: Innovation and Advanced Engineering Consulting and Organization and Information Systems Consulting.

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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