Wavestone : Q1 2020 revenues in line, tight control of costs but poor visibility
>Q1 organic growth in line with our estimates at -4.0% organic y-o-y - Yesterday evening, Wavestone reported Q1 2020-21 (calendar Q2) revenues down -4.0% to € 94.4m, significantly below our estimate (ODDO BHF: € 94.6m; -3.8% y-o-y). Organic growth contracted to -9.7% (ODDO BHF: -9.5%), i.e. a sharp fall vis-à -vis QQ (+1.3% in organic terms). Regarding the main indicators, the activity rate declined to 63%, i.e. -6pt vis-à -vis Q4 (69%) and -11pt vs Q1 2019 (74%), despi...Wavestone SA, formerly Solucom SA, is a France-based company active in the information technology (IT) sector. It provides infrastructure consultancy services in the fields of telecommunications and networks, Strategy & management, IT transformation, IT Governance, IT architecture and Security & risk management. The Company operates through subsidiaries: Arcome, which offers marketing and technological innovation services for global companies in the information technology industry; Idesys, offerring consultancy services in the management and governance fields; New'Arch, which provides consultancy services in technical architecture of information systems; KLC, which offers consultancy services in information system and industrial investments for corporate clients; Cosmosbay-Vectis that offers business development and transformation consulting, and Xceed Group Ltd, which provides computer related services, among others.
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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