Alten : Strong impact in the short term, though Alten should be a winner in the crisis
>Sharp slowdown in growth in Q1 to +4.0% organic (ODDO BHF: +1.5%e). - Alten generated Q1 revenues of € 690m, showing organic growth of +4.0% y-o-y, beating our estimate (ODDO BHF: € 667m and +1.5% org.). In comparison with Q4 and on a constant number of working days basis, this corresponds to a slowdown of 5 points of growth, something that had not happened since 2009. The countries that slowed the most are Germany (-9pts of economic growth in Q1 vs Q4), France (-7 p...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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