Applus Service SA : 2023 figures beat expectations
>Very solid Q4, well ahead of expectations - 2023 margin very close to our expectations, above consensus - The group reported its FY 2023 results this morning. Revenues totaled € 2,058m (ODDO BHF: € 2,020m, consensus: € 2,030m), up 8.4%, including organic growth of 9.7%, ahead of our expectations (8.9%) and consensus (8.3%). The FY forex effect stood at -3.4% (vs. ODDO BHF -2.5%, consensus -2.7%). The FY scope effect came in at 2.1%. Organic growth in Q4 was 11.5%...Applus Services SA is a Spain-based company that provides inspection, testing and quality assurance services. The Company's activities are divided into five segments: Applus+ RTD, which provides non-destructive testing services mainly to the oil industry; Applus+ Velosi-Norcontrol, which offers solutions for technical assistance, supervision, inspection, quality control testing, certification and consulting services mainly to industrial, electrical, oil and telecommunications facilities; Applus+ Laboratories, which focuses on laboratory testing, system certification and product development services within aerospace, industrial and consumer goods sectors, among others; Applus+ Automotive, which is responsible for the vehicle roadworthiness testing services, and Applus+ IDIADA, which delivers design, engineering, testing and certification services mainly to car manufacturers. The Company operates in Europe, Africa, Asia and the Americas.
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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