Spie : Un premier semestre de qualité et des perspectives rassurantes sur le S2. La valorisation demeure très « Value » au regard des opportunités à MT
>Une activité au S2 attendue proche de l’an dernier et un FCF résilient - Suite à la publication des résultats semestriels qui se sont révélés supérieurs aux attentes (EBITA 93.3 M€ vs 73 M€ estimés ; Dette nette 1.465 Md€ vs 1.679 Md€ estimés), nous avons fait le point sur le début du deuxième semestre qui se confirme être relativement résistant. 1/ Au niveau de l’activité, après un premier semestre marqué par une baisse de l’activité à périmètre et changes cons...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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