Alten : Hope of a rebound in activity in H2 fades, 2021 now more likely
>Good relative surprise on Q2 growth: -18% org. (vs -22.5% est.) - Alten yesterday evening reported Q2 2020 revenue of € 550m, down 15% yoy including -18% organic, i.e. 8% above our expectations (ODDO BHF: € 509m, -22.5% organic) and down vs Q1 (+4.0% organic). This performance is significantly better than the initial guidance of a 22% organic decline. By major geographies, France (-28% organic), Germany (-26%) and Scandinavia (-26%) are the most affected, while Italy...Alten is a holding company. Through its subsidiaries, Co. operates in three areas: Engineering and Technology Consulting (ETC), Telecoms Networks and Multimedia, and Information Systems (NTIS). Through the Engineering and Technology Consulting (ETC) segment, Co. studies and designs technology products for technical divisions in industry and telecoms. The Telecoms Networks and Multimedia segment focuses on Product design, Architecture, deployment, and operation of networks. Lastly, the IT systems segment comprises Applications and software development, and Infrastructure and Telecoms (Applications, systems and networks Corporate telecommunications).
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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