Report
Nicolas Thorez

Visiativ : A contraction (anticipated) in results in 2023, but the main story lies elsewhere

>2023 results a shade below our forecasts - Yesterday evening, Visativ published 2023 results that fell slightly short of our forecasts. For sales (already published) of € 277.2m, up 7% (0% organic), the group posted EBITDA that was slightly down by 5% to € 27.1m (vs ODDO BHF at € 28.4m), i.e. a 120bp deterioration in the margin to 9.8% (12.1% EBITDA in H2, -80bp). EBIT was therefore down 8% to € 17.5m. This contraction was due to the intensification of investment (in...
Underlying
Visiativ SA

Visiativ SA. Visiativ SA is a France-based company engaged in the information technology (IT) consulting and other services. The Company offers integration services for various enterprises, active in the fields of industry, retail and services. Its portfolio of solutions includes Aeronautics & Defense, Consumers goods, Industrial equipment, Transport & mobility, Life sciences, High technologies, Finance & services and Engineering & construction, among others. Visiativ SA operates through NC2 Network Computer Communication SASU (NC2), a Tour De Salvagny-based provider of data processing and hosting services and Solo Solution Autonome SAS, a Guilherand-Granges-based provider of computer systems design services.

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
Nicolas Thorez

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