Apr 29, 2008
The sanction stock market was so tough on this issue in recent months should be relative reactions
. The sanction stock market was so tough on this issue in recent months should be relative reactions of the exchange on this issue in the short term. Organic growth this year 2007/2008 is, admittedly, not very high, but the performance is quite flattering, while carmakers, which still constitute the majority of customers are experiencing a mixed picture . After some trouble, activity services restart and shows a growth of 20% in volume. Industrialists have a need for assistance increased with the complexity of the solutions.
Marge. Sales of licenses show moderate growth while it is in transition with simulation software for a new generation. The company has increased its staff within geographical areas offering low labour costs. These countries are also under the influence of the greenback, it helps to evacuate part of the problem of exchange rate fluctuations. The operating margin declined slightly but remains comfortable to 8.2% of sales ... The program displayed for the year which starts is attractive with the benefits of commercial investment and an operating margin in double digits.
Action. The title had "dropped" Cap over 35% in one year, despite a good fundamentals. The recovery now seems totally disconnected from fundamental as it should retain the tens of millions invested in 'R & D' since the inception of the company. The products are developed with high added value and would issue a long-term profitability significantly higher. If Mr. adventure De Rouvray, founder and president, decided to sell his company, there is no doubt that the course would be retained well beyond current levels. We therefore remain positive on ESI.
Christophe Voisin
by erectusplus at 7:30 PM |
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