Devoteam : H1 not as catastrophic as expected but chilly outlook
>Q2 growth not as depressed as expected at -1.7% organic (vs -4.0%e). - After trading yesterday evening Devoteam reported Q2 revenue of € 180.3m down -2.4% y1eo1ey, higher than we expected (ODDO BHF: € 176.4m). Organic growth was -1.7%, better than we had forecast (ODDO BHF: -4.0%). The slowdown vis-à -vis Q1 2020 was 10.5 points, driven mainly by France at -9.1% y-o-y organic, i.e. a slowdown of 16 points while the international segment showed better resilience at +4.9%...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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