Report

ODDO : Impact non négligeable sur la mobilité, mais le secteur est sous-évalué

>Un T2 impacté sur la mobilité, 6% du CA d’ETL et 12% de SES - Au T2, les opérateurs vont principalement souffrir d’une forte baisse de revenus mobilité (-75%e pour ETL ; -50%e pour SES), qui correspond à la fourniture de moyens de communications pour les avions et les bateaux. Celle-ci n’est pas directement liée à la chute du trafic, la quasi-totalité des contrats ne dépendant pas de l’usage, mais plutôt à des remises commerciales consenties aux distributeurs, étran...
Underlyings
Eutelsat Communications SA

Eutelsat Communications is a private telecommunications satellite operator involved in the design, establishment, operation and maintenance of satellite telecommunications systems covering a large geographical area (extended Europe (including North Africa and the Middle East), sub-Saharan Africa, parts of America and Asia). Co. provides its customers broadcasting capacity and associated services to transmit TV programmes via satellite, cable or Internet Protocol (IP) networks. As of June 30, 2013, Co. owned and operated 31 satellites in geostationary orbit and 4 satellites in inclined orbit.

SES SA FDR (Class A)

SES is engaged as a provider of satellite-delivered services. As a strategic management company, Co. operates through a unique network of leading satellite operators around the world. This network comprises the fully-owned SES ASTRA in Europe and SES AMERICOM in the U.S., as well as participations in regional satellite operators. SES ASTRA is European direct-to-home satellite operator. SES AMERICOM operates a fleet of 17 satellites serving the Americas, Europe and the Asia-Pacific region. AsiaSat provides transponder capacity for broadcast, broadband and telecommunications services in the Asia-Pacific region.

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.

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