Applus Service SA : Vers un business plus vert et mieux margé grâce au M&A, le management assez prudent selon nous…Surperformance et OC 10.5 € inchangé
>Les bons points de l’année 2020 : des acquisitions relutives et une moindre exposition au Capex O&G - Le management est revenu sur les performances de ses différentes divisions. Sur le segment E&I le management a rappelé sa volonté de réduire son exposition aux Capex O&G (11% en 2018, 9% en 2019, 7% en 2020 – TMVA 14-19 de -17%) et s’attend à ce que celui-ci représente une partie marginale du groupe à terme. Néanmoins les Opex O&G devraient rester importantes (25% de...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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