Subsea 7 : Priorité à la préservation du cash !
>Recommandation Achat pour un groupe doté de nombreux atouts - A la suite de la publication du T1 (cf. First Take du 30/04/2020) et de la conférence call, nous ajustons à la baisse notre séquence d’EBITDA 2020/23 de 9% en moyenne. Nous intégrons un scénario de remontée des marges plus prudent sans pour autant énormément modifier notre scénario de ventes. Subsea 7 dispose de nombreux atouts via : Son positionnement sur le métier de l’installation de fermes é...Subsea 7 is a provider of seabed-to-surface engineering, construction and services contractor to the offshore energy industry. Co. provides products and services required for subsea field development, including project management, design and engineering, procurement, fabrication, survey, installation, and commissioning of production facilities on the seabed and the tie-back of these facilities to fixed or floating platforms or to the shore. Co. also provides products and capabilities to deliver full Life of Field services to its clients. Through its i-Tech Division, Co. provides remotely operated vehicles and tooling services to support exploration, production and drilling activities.
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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