Esker : Record results, but cautious tone on the outlook (to be seen in perspective)
>Exceptional H1 results above our estimates (already high) - Esker reported yesterday record H1 results well above our estimates. After H1 sales (already reported) of € 76.3m (+19% of which +13% organic), underlying EBIT comes to € 13.1m, up 42% (vs ODDO BHF: € 11.4m). The operating margin therefore stands at 16.9%, up +300bp y-o-y, a record level for Esker. Beyond the volume effect, the H1 margin benefited, as expected, from a positive forex effect (+€ 1.1m) and a wr...ESKER and its subsidiaries are engaged in the design and production of software applications. Co. operates corporate resource access software such as applications and databases for workstations. Co. has three major product groups: Host Access, DeliveryWare and Fax Server. Host Access products allows users to access applications and databases stored on different servers from their own workstations. DeliveryWare responds to the need of companies for automatic management document delivery. Fax Server allows the user to send a fax directly from their workstation.
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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