CS Group : Confirmed recovery in margins in H2 2019 – Reduced visibility on 2020
>Contraction in margins in 2019 despite ground clearly made back up in H2 - CS reported 2019 results a shade above expectations. On revenue growth (already published) of 14.1% y-o-y (+4.6% organic), underlying EBIT came to € 14.1m (vs ODDO BHF € 12.7m), i.e. an operating margin of 6.1% (-1.5 points vs 2018). This level implies an H2 margin of 7.3%, clearly up vs H1 (4.8%) and close to normative levels. Factoring in one-off items (restructuring) and the rise in financi...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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