Alten : Very positive message from management on the growth outlook
>2018 results in line, FCF under pressure from strong growth - Alten yesterday presented its full-year earnings which were in line with expectations, with an adjusted operating profit of € 224m (+15% y-o-y). This reflects an adjusted operating margin of 9.9%, up 10bp, just ahead of management's guidance (stable y-o-y at 9.8%) and in line with expectations (Oddo BHF and consensus: 9.9%). In detail, the small improvement in the adjusted operating margin stems from a hig...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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