Report
Jean-François Granjon

Quadient : Good vehicle to tackle a deteriorating macroeconomic situation, valuation out of sync...

>Buoyant growth in new business - Beyond the interim results, which do not reflect FY expectations, we would note the strong momentum lifting the new business. In the software unit (ICA, +4.7% organic growth in H1), in addition to two major contracts signed in North America (>€ 1m each), the group confirmed strong revenue growth tied to subscriptions (+16.9% in H1, 74% of ICA revenues). The business benefited from cross-selling with the historical MRS business, ICA's ...
Underlying
Quadient SA

Neopost supplies mailroom equipment, offering products for franking, folding & inserting, addressing, address cleansing, tracking, tracing letters, parcels & the supply chain. Co. also offers various services, including consulting, maintenance, financial services & online service. Co.'s activities can be summed up to 2 segments: Mailroom Solutions & Communication & Shipping Solutions, divided into 9 operations: Automated mail opening, Management of incoming mail & traceability of important mail, Address printers, Automated insertion equipment, Intelligent franking, Financing solutions, Data quality, Customer Communication Management and Shipping Solutions, mainly in Europe & North America.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Jean-François Granjon

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