Report
Stephane Houri

Verimatrix : Roadshow post publication S1 convaincant, OC relevé à 4.5 € (vs 4 €), intégration à notre liste conviction Nextcap S2 19

>Une publication et un roadshow convaincants - Suite à la publication des résultats S1 2019 (lire notre réaction initiale) ayant montré 1/ une ré-accélération de la croissance de l’activité historique de Verimatrix (à +18% yoy au T2 2019 vs -14% au T1 2019), 2/ une amélioration significative de la rentabilité (marge d’EBITDA à 16.5%) et 3/ un relèvement de l’objectif de synergies (12.5 M$ vs 10 M$ en 2020 dont 7 M$ en 2019 vs 4 M$) et de l’objectif de marge d’EBITDA ...
Underlying
Verimatrix SA

Inside Secure designs, develops and sells software, silicon IP, tools and know-how to be integrated into mobile and connected devices to protect its customers' transactions, content, applications, and communications. Co. is serving markets such as: network security; IoT security; content & application protection; and mobile payment & banking. Co.'s technology protects solutions for a broad range of customers including: service providers; digital content distributors; security system integrators; device vendors; and semiconductor manufacturers.

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
Stephane Houri

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