Alten : Renewed optimism, but it needs to be confirmed
>Respectable H1 2020 results given the slump in business - Alten had in July posted revenues of € 1.24bn, down -7% in organic terms y-o-y (with -18% in Q2). The group chalked up adjusted EBIT of € 75.2m in the first half, or a margin of 6.1%, down 2.9 points y-o-y and 40bp better than we expected. Net profit largely beat our expectations at € 60.6m (ODDO BHF: € 40m), thanks to two factors: i/ one-off expenses were much more limited than we anticipated, at € 4m (ODDO B...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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