Devoteam : Very solid H1 results. What with the stock market catch-up and speculation, there is still some upside. Target price raised to € 150 (vs € 128)
>H1 2021 organic growth of +7.5%, ahead of expectations - Devoteam yesterday reported its H1 2021 results, which beat our expectations across the board. In H1 2021, the group generated sales of € 430.1m, up 11.1% in reported terms and +7.5% organically, well ahead of our initial forecasts (ODDO BHF € 402m, +4%), which looked cautious in light of the figures posted by European sector players. In addition to scope effects (+3.8pts), this marked growth was driven by a sh...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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