reports
- Denis Scherrer (IDMidCaps)
Aubay - A period of transition but a good point of entry
After 2 very good years, Aubay recorded a 10% fall in its EBIT before share-based payment due to the contraction in profitability.Since Q2, demand for IT Services sector has slowed, particularly in the banking sector, Aubay's specialityProfitability remains at a good level, in line with our latest guidance, and cash generation was slightly ahead of our expectationsH1 2024 will still be soft, but demand will not collapse and the Group has identified ways of improving marginsThe timing is sti...
- Denis Scherrer (IDMidCaps)
Aubay - Q4 in line with expectations and reassuring
Full-year sales (+4%) in the middle of the guidance range and in line with our forecastWeak growth in Q4 as expected, but recovery in productivity rate and increase in headcountTowards an annual EBIT margin (before share-based payment) at the top end of the 8-9% rangeExpected growth of between 0 and 3% in 2024Forecasts raised slightly and target price revised upwards to also take account of M&A activity in the sectorWe are upgrading to ADD (vs BUY) following the 38% rebound in the share price ov...
- Denis Scherrer (IDMidCaps)
Aubay - Profit warning and slowdown in business already widely priced
Q3 growth in line with Q2 and in line with our expectationsGreater caution for Q4, leading to a downward revision of the full-year sales guidance (€530-540m vs. €540-550m), which we had already included in our forecastsThe EBIT margin (before share-based payment) guidance has also been lowered (8-9% vs. 9.5-10.5%), a sharper revision than we had anticipated.The other major piece of information is the downsizing of the workforce, which will enable the productivity rate to rise, but will result in...
Aubay Technology: 1 director
A director at Aubay Technology sold 500 shares at 38.800EUR and the significance rating of the trade was 51/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly s...
- Denis Scherrer (IDMidCaps)
Aubay - Excessive penalty after slight decline in H1 results as expect...
EBIT before share-based payment down 8% in H1 due to an unfavourable calendar, a contraction in the productivity rate and difficulties at the Italian subsidiary EBIT margin (before share-based payment) of 8.9%, in line with the Group's guidance, down from a record level of 10.3% in H1 2022 Management confirms a downturn in demand compared with a euphoric 2022 2023 guidance confirmed (+5 to 7% organic growth and EBIT margin (before share-based payment) of between 9.5 and 10.5%), but manageme...
- Denis Scherrer (IDMidCaps)
Aubay - A slowdown in growth to be put into perspective
Q2 sales up by 2.3% on a purely organic basis, after 10.3% in Q1A slowdown largely due to the working-day effect, as well as the difficulties experienced by the Italian subsidiary since H2 2022Growth in France remains sustained at +6%, or more than +9% on a constant working day basisAnnual guidance confirmed as +5% to +7% organic growth and an EBIT margin (before share-based payment) of between 9.5% and 10.5% (vs 10.4% in 2022)BUY opinion maintained in view of the very good fundamentals and a va...
An unfavourable environment weighs on AUBAY, which sees a downgrade to...
The independent financial analyst theScreener just requalified the general evaluation of AUBAY (FR), active in the Computer Services industry. As regards its fundamental valuation, the title still shows 1 out of 4 stars and its market behaviour is seen as moderately risky. theScreener believes that the unfavourable environment weighs on the sector and penalises the company, which sees a downgrade to its general evaluation to Slightly Negative. As of the analysis date January 18, 2022, the closin...
- Florian Béchaz
Aubay - Assemblée Générale des actionnaires du 14 mai 2019
Proxinvest applique la même politique que l'an passé quant à la rémunération des mandataires sociaux. Ainsi, nous soutenons la rémunération pour l'année 2018 malgré une transparence perfectible et l'absence de rémunération long-terme qui se trouve toutefois compensé par la qualité d'actionnaire de chacun des mandataires sociaux.A l'inverse nous ne soutenons pas la politique de rémunération du prochain exercice qui ne mentionne aucun montant ni plafond. Ceci est un blanc-seing au Conseil. Par ail...
Proxy Report - 15/05/2018
L'ensemble des membres du conseil est renouvelé cette année car la durée des mandats est d'un an. Il est cependant proposé d'allonger cette durée à 3 ans, durée qui demeure en ligne avec les principes de Proxinvest (4 ans) (résolutions 7 à 11 et 23) La rémunération des différents mandataires sociaux dirigeants pour 2017 pourra être acceptée malgré une transparence perfectible et l'absence de rémunération de long-terme qui est compensée par leurs positions d'actionnaires en raison de montants r...
Ford Equity International Rating and Forecast Report
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
Dernière ligne droite pour le plan AVENIR 2015
​Ausy a publié un chiffre d'affaires T2 2015 de 94,7 M€, conforme à nos attentes, affichant une progression de +2,1 % yoy en organique (+23,0 % yoy à données publiées). Cette accélération de la croissance organique (+0,7 % yoy au T1) est à mettre aux crédits de la France qui progresse de +5,2 % yoy, l'International reculant pour sa part de -6,9 % yoy. Ausy anticipe toujours de mener à bien son plan Avenir 2015, plusieurs pistes de croissance externe, notamment aux Etats-Unis, étan...
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