Indra Sistemas : Q4 2018 performance better than expected. Satisfactory 2019 guidance
>Q4 2018 sales better than expected at all levels - After trading yesterday Indra reported Q4 sales of € 930m, up 4% y-o-y on a reported basis, well ahead of expectations (consensus: € 849m est. Oddo BHF: € 860m est.). Organic growth came to 4.0% y-o-y, well above our forecast (Oddo BHF: -1.6%) showing a strong acceleration relative to Q3 2018 (vs -1.0% organic) thanks to a recovery in growth in the T&D division to +11% y-o-y organic (vs 1.0% y-o-y org in Q3 18; Oddo ...Indra Sistemas is engaged in the design, development, manufacture, assembly, repair, and installation of computer software and applications. Through its subsidiaries, Co. is engaged in consulting, graphic design and multimedia, web design and marketing, internet development and electronic trade, systems integration and hosting geared business to business and business to consumer, as well as in internet financing and electronic marketing. Co. serves defense and security, transport and traffic, energy and industry, telecom and media, finance and insurance, and public administration and healthcare markets. Co. operates primarily in Europe, the United States, Canada, and Latin America.
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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