(Boursier.com) — Alten fell 1.8% to 108 euros this Friday, while the group at the end of September posted a turnover of 3.037 billion euros, including 963.5 million euros in France (+9.8%) and 2.073 billion euros internationally (+8.8%). Over the period, Alten’s activity growth stood at +9.1%. At constant scope and exchange rates, growth was +10.1% (+9.8% in France and +10.3% outside France).
In the 3rd quarter, as anticipated, growth in activity continued to slow down… On a constant basis, growth was +7.6% (10.5% in France; 6.3% outside France). The 3rd quarter is also penalized by unfavorable seasonality compared to the 3rd quarter of 2022 (-0.9 working days). Based on current data, taking into account an international sale in 2022, activity growth is +3.3% in the 3rd quarter: +10.5% in France; +0.4% outside France. Most business sectors and almost all geographic areas are making progress.
Perspectives displayed
Alten achieved satisfactory business growth at the end of September, in line with its expectations. The deceleration of organic growth during 2023 reflects the normalization of the economy.
Even if the rate of growth slows, Alten should achieve satisfactory organic growth in 2023, of around 9%and will continue its targeted external growth strategy.
“A new publication which confirms the sectoral slowdown” comments Portzamparc who believes that the momentum is unfavorable, but the fundamentals seem intact… “After reviewing our growth expectations and updating rates/comparables, our objective is lowered by 156.8 at 147.3 euros” concludes the analyst who remains a buy on the file.