Devoteam : Avec la perspective d’un rebond en 2021, l’OPA à 98 € sous-estime le potentiel de Devoteam. Opinion Achat vs Apporter à l’offre.
>Croissance T3 de -4.5% org., juste en-dessous de nos attentes (-4.0%) - Devoteam a publié un CA T3 de 175 M€ en recul org. de -4.5% y/y, légèrement inférieure à nos attentes (-4.0% org.). Cela représente une dégradation séquentielle de 2.8 pt (T2 à -1.7% org). Le CA publié est légèrement supérieur à nos attentes (175 M€ vs 173 M€) grâce à deux petites acquisitions réalisées en Europe du Nord. Par région (cf. p.2) nous constatons une légère amélioration en France, qui...Devoteam is an Information and Communication Technologies (ICT) consulting group. Co. specializes in technologies of IT infrastructures, middleware and telecommunication networks. Co. covers the technical, organizational and financial aspects of its clients' projects. It is subdivided into two business line segments. The Technology Consulting segment handles the design and implementation of solutions. This segment operates in three areas: expertise, systems integration and outsourcing under the DVO and DVS brands. The Business Consulting segment can be defined as the provision of skills to companies and organizations, under the Devoteam Consulting brand.
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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