Ordina : Capital allocation has improved, but fundamentals need to catch up
>2023 likely to be a year of renewed efficiencies… - Ordina had a good run on the hiring front in 2022 (c. 130 net FTE inflow), however churn and deployment inefficiencies led to margin pressure and declining productivity (69.4% in 2022 vs. 72.1% in 2021). The company recognises these are areas for improvement in 2023, and if it gets these right, we believe the fundamentals of the company will most certainly improve. The focus on hiring is expected to continue in 2023...Ordina offers Consulting, IT and Application Outsourcing services. Co. is organized in the IT Services and Business Process Outsourcing segments. The IT Services segment performs activities relating to business consulting, system development and integration, and application management and maintenance. Within the Business Process Outsourcing segment, Co. assumes full responsibility for backoffices (i.e. business processes and IT) of clients operating in the banking and insurance sectors. It was decided, in the second half of 2008, not to continue the BPO activities under Co.'s umbrella on a permanent basis.
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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