Applus Service SA : The story comes to an end
>9M revenues in line with our expectations organically - Applus published yesterday evening its 9M revenues, which were up 7.5% to € 1,632m, slightly below our expectations of € 1,645m, due to a difference in our estimates for the forex effect. Organic growth came in at 7.6%, in line with our expectations (ODDO BHF estimates: 7.6%), implying organic growth of 5.4% in Q3 (after 10.1% in Q2), which is already included in our estimates, with a demanding comparison base ...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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