Report
Amira Manai ...
  • Hana Souissi
  • Nicolas Thorez

CS Group : Results deteriorate in H1, between health crisis and internal reorganisation

>H1 2020 results miss our expectations, FCF holds up well - CS Group reported on Friday its H1 results, which were hard hit by the health crisis. Revenue held up well, at € 102.8m (-2.6%; ODDO BHF -6%), thanks to good execution capacity in critical customer activities (solid order book at the end of 2019). Conversely, CS turned in underlying EBIT of € 0.2m, well below our expectations (€ 3.5m), implying a margin down 460bp to 0.2%, dented by weak activity and difficul...
Underlying
CS Group

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).

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Amira Manai

Hana Souissi

Nicolas Thorez

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