Applus Services SA

Applus Services SA is a Spain-based company that provides inspection, testing and quality assurance services. The Company's activities are divided into five segments: Applus+ RTD, which provides non-destructive testing services mainly to the oil industry; Applus+ Velosi-Norcontrol, which offers solutions for technical assistance, supervision, inspection, quality control testing, certification and consulting services mainly to industrial, electrical, oil and telecommunications facilities; Applus+ Laboratories, which focuses on laboratory testing, system certification and product development services within aerospace, industrial and consumer goods sectors, among others; Applus+ Automotive, which is responsible for the vehicle roadworthiness testing services, and Applus+ IDIADA, which delivers design, engineering, testing and certification services mainly to car manufacturers. The Company operates in Europe, Africa, Asia and the Americas.
  • TickerASS
  • ISINES0105022000
  • ExchangeMadrid Stock Exchange
  • SectorSupport Services
  • CountrySpain

Analysts

Research Department

CAMBIO DE CARTERAS BANCO SABADELL SEMANA 30 OCTUBRE A 06 NOVIEMBRE 2019 (ANÁLISIS BANCO SABADELL)

Cartera Modelo Europa Sale Danone y entra Kering. Subimos peso en Bayer y BNP Paribas. Cartera High Yield Europa Air Liquide, Allianz, Daimler, SAP y Vivendi Sin cambios esta semana. Cartera Modelo España Sin cambios esta semana. Cartera 5 Valores España ACS, Caixabank, Cellnex, Ferrovial y Telefónica Sin cambios esta semana. Cartera 5 valores High Yield España Iberdrola, Merlin, Repsol, Santander y Telefónica Sin cambios esta semana. Cartera Pequeñas y Medianas España Applus, CAF, Dominion, Enagás, Ence, Indra, Logista, Masmóvil, Sacyr y Unicaja Sin cambios esta semana.

Research Department

BANCO SABADELL RECOMMENDED PORTFOLIO WEEK 23 TO 30 OCTOBER 2019 (ANÁLISIS BANCO SABADELL)

European Portfolio We lower Volkswagen’s weight and raise that of Airbus. European High Yield Portfolio Air Liquide, Allianz, Daimler, SAP & Vivendi No changes this week. Spanish Recommended Portfolio No changes this week. 5-Stock Recommended Portfolio ACS, Caixabank, Cellnex, Ferrovial & Telefónica No changes this week. 5 High-Yield Stock Portfolio Iberdrola, Merlin, Repsol, Santander & Telefónica No changes this week. Mid&Small Recommended Portfolio Applus, CAF, Dominion, Enagás, Ence, Indra, Logista, Másmóvil, Sacyr & Unicaja No changes this week.

Alain William ...
  • Christophe Chaput
  • Emira Sagaama
  • Jean-François Granjon
  • Jeremy Garnier
  • Jerôme Bodin
  • Martial Descoutures
  • Matthias Desmarais
  • Michael Foundoukidis
  • Oussema Denguir
  • Stephane Houri
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF Small & MIDCAP MORNING NEWS - 10/31/2019 Date Performance since listing Date Performance since listing

...

Alain William ...
  • Christophe Chaput
  • Emira Sagaama
  • Jean-François Granjon
  • Jeremy Garnier
  • Jerôme Bodin
  • Martial Descoutures
  • Matthias Desmarais
  • Michael Foundoukidis
  • Oussema Denguir
  • Stephane Houri
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF Small & MIDCAP MORNING NEWS - 31/10/2019

...

Emira Sagaama ...
  • Matthias Desmarais

Applus Service SA : Confidence in the improvement in the E&I margin despite a tough Q4

>Q3 a shade below expectations - Q3 2019 sales came in 1% below expectations, +5% y-o-y, including a positive forex effect of +0.6% and a contribution from acquisitions net of disposals of -0.4%. Organic growth of 4.8% over the quarter was slightly lower than our estimate (ODDO BHF 5%e) and that of the consensus (5.2%e) and reflects a more marked sequential slowdown than expected (vs 6.6% in H1 2019 and 5.5% in Q2). The EBITA margin improved by 20bp y-o-y to 11.1% PF ...

Research Department

CAMBIO DE CARTERAS BANCO SABADELL SEMANA 30 OCTUBRE A 06 NOVIEMBRE 2019 (ANÁLISIS BANCO SABADELL)

Cartera Modelo Europa Sale Danone y entra Kering. Subimos peso en Bayer y BNP Paribas. Cartera High Yield Europa Air Liquide, Allianz, Daimler, SAP y Vivendi Sin cambios esta semana. Cartera Modelo España Sin cambios esta semana. Cartera 5 Valores España ACS, Caixabank, Cellnex, Ferrovial y Telefónica Sin cambios esta semana. Cartera 5 valores High Yield España Iberdrola, Merlin, Repsol, Santander y Telefónica Sin cambios esta semana. Cartera Pequeñas y Medianas España Applus, CAF, Dominion, Enagás, Ence, Indra, Logista, Masmóvil, Sacyr y Unicaja Sin cambios esta semana.

Emira Sagaama ...
  • Matthias Desmarais

Applus Service SA : Confidence in the improvement in the E&I margin despite a tough Q4

>Q3 a shade below expectations - Q3 2019 sales came in 1% below expectations, +5% y-o-y, including a positive forex effect of +0.6% and a contribution from acquisitions net of disposals of -0.4%. Organic growth of 4.8% over the quarter was slightly lower than our estimate (ODDO BHF 5%e) and that of the consensus (5.2%e) and reflects a more marked sequential slowdown than expected (vs 6.6% in H1 2019 and 5.5% in Q2). The EBITA margin improved by 20bp y-o-y to 11.1% PF ...

Emira Sagaama ...
  • Matthias Desmarais

Applus Service SA : Confiance dans l’amélioration de la marge en E&I malgré un T4 difficile

>Un T3 légèrement en dessous des attentes - Le CA T3 est ressorti 1% en dessous des attentes, en hausse de 5% yoy, incluant un effet change positif de +0.6% et une contribution des acquisitions nettes des cessions de -0.4%. La croissance organique de 4.8% sur le trimestre est légèrement en dessous de notre attente (ODDO BHF 5%e) et du consensus (5.2%e) et marque un ralentissement séquentiel plus fort qu’anticipé (vs 6.6% au S1 2019 et 5.5% au T2). La marge d’EBITA s’a...

Andres Bolumburu

APPLUS: MENSAJES DE LA CONFERENCE CALL RDOS. 9MESES'19 (ANÁLISIS BANCO SABADELL)

Adjuntamos los principales mensajes del conference call de Rdos:  Oil&Gas: La debilidad vista en este segmento (38% de las ventas) se debe principalmente a contratos de EE.UU. (representa el 25% de Energy&Industry) ligados a CAPEX (c.11% de las ventas de EE.UU. en Energy&Industry). Creen que el 4T’19 va a seguir siendo débil (se une también una difícil comparativa, con el 4T’18 creciendo un +11,5%) pero esperan que haya crecimiento en 1S’20. No creen que estén perdiendo cuota de mercado y aunque mantienen que las expectativas son positivas de cara al 2020, son más negativas que lo que veían h...

Andres Bolumburu

APPLUS: 9M’19 RESULTS (ANÁLISIS BANCO SABADELL)

3Q'19 vs. 3Q'18 Results Sales: € 454.1 M (+5.0% vs. +5.9% BS(e) and +5.7% consensus); EBIT: € 50.3 M (+11.5% vs. +13.7% BS(e) and +14.6% consensus); 9M'19 vs. 9M'18 Results Sales: € 1.33 Bn (+6.8% vs. +7.1% BS(e) and +7.0% consensus); EBIT: € 148.5 M (+16.6% vs. +17.3% BS(e) and +17.7% consensus); The results came in as expected. Sales grew +5.0% in the 3Q’19 (+4.8% organic vs. +5.2% BS(e)), which leaves organic growth of +6% as of 9M’19, in line with the company’s guidance. We underscore the good performance of all of the divisions, with acceleration in Energy & Industry (+4.8% in the 3Q’19 v...

2 directors sold

Two Directors at Applus Services Sa sold 98,432 shares at between 12.900EUR and 13.030EUR. The significance rating of the trade was 94/100. 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 showing Close periods where trading activity is restricted under listing r...

Alain William ...
  • Christophe Chaput
  • Emira Sagaama
  • Jean-François Granjon
  • Jeremy Garnier
  • Jerôme Bodin
  • Martial Descoutures
  • Matthias Desmarais
  • Michael Foundoukidis
  • Oussema Denguir
  • Stephane Houri
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF Small & MIDCAP MORNING NEWS - 10/31/2019 Date Performance since listing Date Performance since listing

...

Alain William ...
  • Christophe Chaput
  • Emira Sagaama
  • Jean-François Granjon
  • Jeremy Garnier
  • Jerôme Bodin
  • Martial Descoutures
  • Matthias Desmarais
  • Michael Foundoukidis
  • Oussema Denguir
  • Stephane Houri
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF Small & MIDCAP MORNING NEWS - 31/10/2019

...

Emira Sagaama ...
  • Martial Descoutures
  • Matthias Desmarais
  • Oussema Denguir

ODDO BHF Small & MIDCAP MORNING NEWS - 10/08/2019

Construction markets should, for the most part, continue to reflect a slowdown in growth in 2020. A number of them may even contract (France, UK, Germany). In this context, the differentiation will primarily stem from a capacity for resilience (geographic mix and leverage/pricing), M&A (and portfolio rotation) and valuation. In the face of this new environment, we are initiating our coverage on Geberit on Reduce and downgrading our recommendations on CRH, HeidelbergCement and Vicat (f...

Christophe Chaput ...
  • Emira Sagaama
  • Martial Descoutures
  • Matthias Desmarais
  • Oussema Denguir

ODDO BHF Small & MIDCAP MORNING NEWS - 08/10/2019

Les marchés de la construction devraient, pour la majorité, continuer de ralentir en 2020. Certains devraient même s’afficher en recul (France, RU, Allemagne). Dans ce contexte, la différenciation se fera essentiellement sur la capacité de résistance (mix géographique et levier/pricing), le M&A (et rotation de portefeuille) et la valorisation. Face à cet environnement, nous initions Geberit en Alléger, dégradons nos opinions sur CRH, HeidelbergCement et Vicat (d’Achat à Neutre), et re...

Alexandre Iatrides ...
  • Antoine Boivin-Champeaux
  • Emira Sagaama
  • Jean Sassus
  • Johanna Jourdain
  • Matthias Desmarais
  • Olfa Taamallah
  • Steven Gould
  • Sven Edelfelt
  • Sylvain Goyon
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 08/05/2019

After a remarkable performance (+42.5%) since its addition into our Large Caps Convictions List, we are taking our profits on MTU Aero Engines. Since its launch (8 January), the ODDO Large Caps Convictions List posted, at 1 August, a performance (dividends reinvested) of 18% vs 15.3% for the Stoxx 600. Enjoy your summer holidays, ODDO BHF Strategy will be back on the week of 26 August. - - ...

APPLUS SERVICIOS sees a downgrade to Slightly Negative on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of APPLUS SERVICIOS (ES), active in the Business Support Services industry. As regards its fundamental valuation, the title now shows 1 out of 4 stars while market behaviour can be considered moderately risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Slightly Negative. As of the analysis date August 27, 2019, the closing price was EUR 12.01 and its target price was estimated at EUR 10.56.

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 each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Research Department

BANCO SABADELL RECOMMENDED PORTFOLIO WEEK 23 TO 30 OCTOBER 2019 (ANÁLISIS BANCO SABADELL)

European Portfolio We lower Volkswagen’s weight and raise that of Airbus. European High Yield Portfolio Air Liquide, Allianz, Daimler, SAP & Vivendi No changes this week. Spanish Recommended Portfolio No changes this week. 5-Stock Recommended Portfolio ACS, Caixabank, Cellnex, Ferrovial & Telefónica No changes this week. 5 High-Yield Stock Portfolio Iberdrola, Merlin, Repsol, Santander & Telefónica No changes this week. Mid&Small Recommended Portfolio Applus, CAF, Dominion, Enagás, Ence, Indra, Logista, Másmóvil, Sacyr & Unicaja No changes this week.

Research Department

BANCO SABADELL RECOMMENDED PORTFOLIO WEEK 06 TO 13 MARCH 2019 (ANÁLISIS BANCO SABADELL)

BANCO SABADELL RECOMMENDED PORTFOLIO WEEK 06 TO 13 MARCH 2019 (ANÁLISIS BANCO SABADELL)

Research Department

CAMBIO DE CARTERAS BANCO SABADELL SEMANA 06 A 13 MARZO 2019 (ANÁLISIS BANCO SABADELL)

CAMBIO DE CARTERAS BANCO SABADELL SEMANA 06 A 13 MARZO 2019 (ANÁLISIS BANCO SABADELL)

Research Department

BANCO SABADELL RECOMMENDED PORTFOLIO WEEK 27 FEBRUARY TO 06 MARCH 2019 (ANÁLISIS BANCO SABADELL)

BANCO SABADELL RECOMMENDED PORTFOLIO WEEK 27 FEBRUARY TO 06 MARCH 2019 (ANÁLISIS BANCO SABADELL)

Research Department

CAMBIO DE CARTERAS BANCO SABADELL SEMANA 27 FEBRERO A 06 MARZO 2019 (ANÁLISIS BANCO SABADELL)

CAMBIO DE CARTERAS BANCO SABADELL SEMANA 27 FEBRERO A 06 MARZO 2019 (ANÁLISIS BANCO SABADELL)

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