Alten (XPAR:ATE)

€ 117.7 -2.5 (-2.08%) Market Cap: 4.09 Bil Enterprise Value: 4.13 Bil PE Ratio: 17.46 PB Ratio: 2.00 GF Score: 97/100

Half Year 2019 Alten SA Earnings Call Transcript

Sep 20, 2019 / 08:00AM GMT

Release Date Price: €107.6 (+4.06%)

Transcript

Simon Azoulay

Alten SA - Chairman & CEO

Good morning, and thank you for being with us this morning to attend the presentation of our first half results. There will be quite some news and some clarification about the current market situation, whether there will be a downturn or not, et cetera, and I'll try and answer these questions from the standpoint of ALTEN.

For the actual first half result, our growth has been quite sharp, 17.5%, 12% organic growth, and the 5% difference means 4% of external growth and 1% of ForEx impact. It's not a homogenous growth when you compare France and the international market because there is no external growth in France. We don't need to acquire new companies in France. We might identify a few targets, but they would not have a major impact on our revenue when it's 200 or 300 people with a small impact. It will not be visible in France. We only aim for external growth in the international market to reach an international size where we want to settle down our business model. And as you see, our international growth, because of this external growth, reaches 21%,

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