Applus Service SA : Q1 revenues beat expectations
>Good Q1 – positive surprises in E&I and labs - Q1 revenues came in slightly ahead of expectations at € 477m (ODDO BHF: 463m), up 10.2%. Organic growth was much higher than we expected at 8.8% (vs 5.6%e), a sequential acceleration vs the 7.6% in Q4 2022. The forex effect was slightly negative at -0.2% (vs 0.7%e). The scope effect was 1.6%, slightly greater than we expected (0.8%e). By division:E&I (55% of revenues) showed organic growth of 11.2%, much higher th...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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