Report
Emira Sagaama ...
  • Matthias Desmarais

Applus Service SA : Reassuring guidance and increased dividend should boost the share price

>2019 results in line and pleasant surprise on the dividend - Organic growth was weak as expected in Q4 (+2.3% vs consensus 2%, ODDO BHF 2.9% estimated) resulting in a pace of 5% over the full year, in line with expectations (5.1% for ODDO BHF and the consensus) and with guidance at a mid-single digit rate. Adjusted EBITA of € 197m is 1% ahead of expectations, resulting in a margin of 11.1% over the full year, 10bp ahead of expectations. The margin rose by 42bp over t...
Underlying
APPLUS SERVICES S.A.

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.

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
Emira Sagaama

Matthias Desmarais

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