Report
Jerôme Bodin ...
  • Stephane Houri

ODDO : 9th ODDO BHF TMT Forum – Feedback Day 1

We are hosting our 9th ODDO BHF TMT Forum virtually on 6 and 7 March 2025. In total, 34 companies will be presenting during the forum. In the following note, we provide some initial feedback from companies on day 1.
Out of the 21 feedbacks collected during the first day, 4 were clearly positive, and only 2 were negative. Among the positive names, we would particularly highlight Auto1, CMCOM, INDRA, KPN and Telecom Italia. Among the negative names, we would highlight Gamma and AT&S.
Underlyings
AMS-OSRAM AG

ARM HOLDINGS PLC

AT & S Austria Technologie & Systemtechnik Aktiengesellschaft

AT&S Austria Technologie und Systemtechnik is engaged in the production of printed circuit boards. Co. has three core printed circuit board businesses: Mobile Devices, Automotive and Industrial. Co.'s product assortment ranges from single and double-sided printed circuit boards to multilayer, flexible and rigid, insulated metallic substrate, nucleus, to laser drilled circuit boards. Co.'s products are used as electromechanical linking elements, mainly in the telecommunication sector, automobile industry and medical technology applications, defense and aerospace.

AUTO1 Group

DASSAULT SYSTEMES SA

DUTCH STAR C SHAR

Gamma Communications

Gamma Communications is a communications company. Co. has two main operating segments: Indirect, which sells Co.'s products to channel partners; and Direct, which sells Co.'s products to end users in the SME, Enterprise and Public Sectors together with an associated service wrap. Both operating segments sell a combination of products and services (which is mainly voice traffic from which revenues are derived from channel partners and other carriers as well as rentals for wholesale lines) and growth products and services (which consists of IP voice traffic, rental income derived from SIP trunks, hosted IP voice systems and Gamma's hosted inbound product and data products)

Indra Sistemas S.A. Class A

Indra Sistemas is engaged in the design, development, manufacture, assembly, repair, and installation of computer software and applications. Through its subsidiaries, Co. is engaged in consulting, graphic design and multimedia, web design and marketing, internet development and electronic trade, systems integration and hosting geared business to business and business to consumer, as well as in internet financing and electronic marketing. Co. serves defense and security, transport and traffic, energy and industry, telecom and media, finance and insurance, and public administration and healthcare markets. Co. operates primarily in Europe, the United States, Canada, and Latin America.

IPSOS

Ipsos is an independent survey-based research group based in France. Co. focuses exclusively on the production, interpretation, and distribution of information gathered from individuals about their views, desires, attitudes, and behaviors. It uses two principal methods of survey-based research: Quantitative research and Qualitative research. Co. organizes its business around six areas of specialization: Advertising Research; Marketing Research; Media Research; Opinion and Social Research; and Customer Relationship/Management Research. In addition, it divides its operations into five geographical areas: Europe, North America, Latin America, Asia-Pacific, and Middle East.

Lectra SA

Lectra markets full-line solutions comprising the sale of software, CAD/CAM equipment and associated services (technical maintenance, support, training, consulting, sales of consumables and spare parts). Co. addresses an array of global markets, including fashion (apparel, accessories, and footwear), automotive (car seats and interiors, airbags), and furniture, as well as other industries, such as the aeronautical and marine industries. Its technology enables its customers to design, develop and manufacture their products (garments, seats, airbags, etc.). For the fashion industry, Co.'s software applications also enable the management of collections and cover the entire product lifecycle.

Melexis NV

Melexis designs, develops, tests and markets advanced integrated circuits primarily for the automotive industry. Co. sells its products to a wide customer base in the automotive, medical and industrial markets in Europe, Asia and North America. Co.'s main products are Hall effect ICs, Pressure and Acceleration Sensors, Sensor Interface ICs, Automotive Systems-on-a-Chip, Embedded Microcontrollers, Bus System Chips, Optical and Infrared sensors. In each case the products are primarily developed for automotive applications and designated lead customers with subsequent use in commercial and industrial applications.

Nemetschek SE

Nemetschek is a holding company. Through its subsidiaries, Co. is a software provider for the architecture, engineering, construction, and management industry. Co.'s business activities comprises of 12 brands, which provide solutions for architects, structural designers, and civil and specialist engineers as well as software for cost and schedule planning, tenders, awarding of contracts, invoicing, and execution of building work. There are also solutions for technical facility management and commercial property management as well as for architecture, film, animation and advertising visualization software. Co. organizes its operations into four segments: Design, Build, Manage and Multimedia.

Prosus N.V. Class N

Prosus NV Formerly known as Myriad International Holdings NV. Prosus NV, formerly Myriad International Holdings NV, is a Netherland-based global consumer Internet group. The Company is organized into six business areas: Classifieds, Payments & Fintech, Food delivery, Etail, Ventures and Travel. It also holds investments in listed Social & Internet assets. The Classifieds business area manages mobile and digital marketplaces. The Payments & Fintech business area includes PayU, a Payment Service Platform. The Food delivery business area manages food delivery companies. The Travel business area operates a travel online platform. The Etail business area includes business to consumer e-commerce companies. The Venture business area looks for and invests in early stage companies.

Reply S.p.A.

Reply is engaged in the provision of consulting, system integration and digital services, dedicated to the creation, design and implementation of solutions based on new communication channels and digital media. Co. is consisting of a network of specialist companies, supports European industries belonging to the Telco & Media, Manufacturing & Retail, Bank & Insurances and Public Administration segments, in defining and developing new business models utilizing Big Data, Cloud Computing, CRM, Mobile, Social Media and Internet of Things paradigms.

Royal KPN NV

Koninklijke KPN is an integrated information and communications technology service provider. Co. provides its consumer customers data broadband services, IPTV services, mobile (voice, data and SMS) and fixed line telephony. Co. provides its business customers broadband services, mobile, fixed line and data services. Co. operates in the following segments: Consumer Mobile, which provides mobile services and products; Consumer Residential, which provides services in and around the house; Business, which provides fixed and mobile telephony services; NetCo, which includes fixed wholesale services; Belgium, which provides mobile telephony; and iBasis, which provides wholesale network services.

Telecom Italia S.p.A.

Telecom Italia is a telecommunications group based in Italy. Co. is engaged in the communications sector and, particularly, the fixed and mobile national and international telecommunications sector, the television sector and the office products sector. Co. operates mainly in Europe, South America and the Mediterranean Basin. Co.'s operations are organized along two operating segments: Domestic - Italy (providing telephone and data services on fixed-line and mobile networks for final customers (retail) and other operators (wholesale)); and Brazil (operates in the mobile phone, fixed telephony, in long-distance and data transmission markets in Brazil).

Vodafone Group Plc

Vodafone Group provides mobile and fixed telecommunication services including: access charges, voice and video calls, messaging, interconnect fees, fixed and mobile broadband and related services such as providing televisual and music content, connection fees and equipment sales. Co. provides a range of consumer products and services including mobile, fixed voice, broadband and television, financial as well as other services to operators outside its footprint. Co. also provides a range of enterprise products and services including total communications such as mobile, fixed and a suite of converged communications services, internet of things, cloud and hosting and carrier services.

Wavestone SA

Wavestone SA, formerly Solucom SA, is a France-based company active in the information technology (IT) sector. It provides infrastructure consultancy services in the fields of telecommunications and networks, Strategy & management, IT transformation, IT Governance, IT architecture and Security & risk management. The Company operates through subsidiaries: Arcome, which offers marketing and technological innovation services for global companies in the information technology industry; Idesys, offerring consultancy services in the management and governance fields; New'Arch, which provides consultancy services in technical architecture of information systems; KLC, which offers consultancy services in information system and industrial investments for corporate clients; Cosmosbay-Vectis that offers business development and transformation consulting, and Xceed Group Ltd, which provides computer related services, among others.

WPP Plc

WPP is a holding company. Through its subsidiaries, Co. is a communications services organization providing national and multinational clients a range of communications services. Co. is organized into four operating segments: Advertising and Media Investment Management; Data Investment Management; Public Relations and Public Affairs; and Branding and Identity, Healthcare and Specialist Communications. This last reportable segment includes WPP Digital and direct, digital, promotional & relationship marketing.

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
Jerôme Bodin

Stephane Houri

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Matthias Desmarais
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