Applus Service SA : The correction is too severe for a healthy balance sheet, Buy reiterated
>A healthy balance sheet and a comfortable cash position - Applus issued a press release last night in which the group reiterated the strength of its balance sheet to withstand the current environment. The debt leverage at the end of February was 1.8x EBITDA, well below the covenant of 4x, and the group has liquidity of € 500m, which represents 27% of sales and is in line with the sector. The first debt maturity is € 200m in 2024, which removes any solvency risk. The ...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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