Report
Christophe Chaput

Teleperformance : Reassuring revenue trend in 2020 (c.+6%) and EBIT margin guidance of 12.5%. Target price lifted to € 275 from € 236

>H1 satisfactory overall: +5% organic growth - Téléperformance reported contrasting H1 results with: 1/ +3.7% sales growth to € 2,660m whereas we had forecast € 2,566m (consensus: € 2,554m). Most of this gap stemmed from organic growth which reached +5% (ODDO BHF estimate: +0.6%, consensus: +0.1%) with strong growth in Q2 of +3.8% which was an excellent performance against the current backdrop (consensus: -5.7%). 2/ EBITA disappointed slightly (€ 253m vs ODDO BHF esti...
Underlying
Teleperformance SE

Teleperformance is engaged in outsourced customer experience management. Co. delivers integrated solutions to corporations and administrative bodies worldwide to manage all aspects of the customer-relations cycle on their behalf. Co.'s activities include four core business areas: customer care (these are services provided as part of customer service management); technical support; debt collection; and business information and marketing actions. As of Dec. 31, 2013, Co. had approximately 110,000 computerized workstations across 46 countries. Co.'s client includes industries like Telecoms, Internet, Financial services, Technology/media, Insurance, Government sector and Utilities.

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
Christophe Chaput

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