CS (Comm. & Systemes) : Ambition 2021 Plan confirmed (and conservative), Buy vs Neutral
>H2 revenue at € 111.3m, up 26.3%, of which +5.4% organically - CS reported yesterday evening revenue in line with consensus and a shade below our expectations (€ 210m). After flat organic growth in H1 (+1%), H2 revenue is reassuring and more in line with the company’s profile (+5.4% LfL). On a reported basis, H2 revenue came in at € 111.3m, up 26.3%. The consolidation effect (integration of Novidy’s) contributed up to >21% and the forex effect was quite insignificant...CS Communication et Systemes is a contractor in the design, integration and operation of mission critical systems, and is focused on sectors such as: Defense, Space and Security (By combining information, systems interoperability and operations command, Co. leverages the deployment of mission-critical defense), Aeronautics (Co. conducts projects and develops and maintains technical information and real-time systems), Transportation (Co. offers solutions, spanning from roadside equipment to back-office systems, from integration to operation and maintenance support), and Energy and Industry (simulation, high performance computing, safety, risk management, and production data processing).
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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