SPIE : Slightly disappointing organic growth in Q3 (+1.7% vs. +3.6% est.), FY margin target raised
>Q3 revenues miss expectations: € 2,426.2m vs € 2,454.3m estimated - Spie group reported Q3 revenues a shade below forecasts. Revenues came in at € 2,426.2m, up 13.1%, vs our forecast at € 2,454.3m and consensus at € 2,468m (differences of -1.1% and -1.7% respectively). Most of the difference with our expectations is due to organic growth of 1.7%, while our expectations were based on an increase of 3.6% (consensus +3.9%). By geographic region, we are particularly...Spie is a provider of electrical engineering and IT services and an infrastructure and building contractor. Co. helps to design, finance, manage and implement an array of projects ranging from high-speed TGV and conventional rail lines to metros and light rail systems. In addition, Co. offers telecom and information network services. Through the Commercial Segment, Co. is engaged in construction and renovation projects. Co. also offers wired building services as well as multi-disciplinary industrial maintenance and facilities management solutions.
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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