Indra Sistemas : Very solid FY 2020 guidance for an acceleration in the recovery
>Q4 sales penalised by delays in Transport & Traffic. Minsait still performing well - Indra reported Q4 sales yesterday after trading of € 916m, down 1.5% y-o-y on a reported basis, 3% shy of forecasts (consensus: € 948m, ODDO BHF: € 946m). Organic growth was -1% lower than our forecasts (ODDO BHF: +3.3%) showing a clear slowdown compared with Q3 2019 (+3.8% org.) due to a marked contraction in T&D of -9 % y-o-y org. (ODDO BHF: +0.0% y-o-y org) with a very challengin...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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