Amadeus IT Group : Q3 2020 earnings in line. Limited visibility and 2021 consensus too high
>Q3 2020 sales down 70%, in line with expectations - On the morning of Friday, 6 November, Tieto reported a 70% fall in sales to € 419m, in line with expectations (consensus: € 401m; ODDO BHF: € 440m). This figure reflects a 85% contraction for the distribution activity in line with expectations. As expected, the GDS market underperformed air traffic (-76% in Q3 in recovery relative to 89% in Q2 in RPK), due to i/ a y-o-y increase in cancellations (even though less ma...Amadeus is a transaction processor for the global travel and tourism industry. Co. provides transaction processing power and technology solutions to both travel providers (including full service carriers and low-cost airlines, hotels, rail operators, cruise and ferry operators, car rental companies and tour operators) and travel agencies (both online and offline). Co. acts both as a worldwide network connecting travel providers and travel agencies through a processing platform for the distribution of travel products and services (through the Distribution business), and as a provider of a portfolio of IT solutions which automate certain business processes (through the IT solutions business).
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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