ÅF Pöyry Changes Its Brand to AFRY

/ November 27, 2019

Swedish ER&D service vendor ÅF Pöyry changed its brand to AFRY, the amalgamation of ÅF and pöyRY. Meanwhile, its legal name will remain ÅF Pöyry.

ÅF Pöyry Suffers from The Economic Conditions in Q3 2019

/ October 30, 2019

ÅF Pöyry’s revenue growth (yoy, at CC/CS) continued to decelerate this quarter, declining from +8% in Q1 to +1% in Q3 2019, despite the positive impact of an additional working day (+90 bps on revenue growth during the quarter). The company suffered from the same issues as in Q2: a slowdown in the automotive sector from its largest automotive client, (impacting Industrial & Digital Solutions Division) and delayed decision-making in the Infrastructure Division in Denmark.

Alten: simply impressive!

/ September 22, 2019

The performance of Alten remained impressive in H1 2019: revenues were up 16.8% yoy at CC, and up 12.5% at CC/CS, reaching EUR 1,292m during the period.

KPIT: a high-growth automotive pure-play

/ September 1, 2019

KPIT published its Q1 FY20, its second quarterly earnings since it became an automotive ER&D pure-play, since the sale of its IT service business to Birlasoft, last year.

UPDATED: Segula finalizes its outsourcing contract with PSA. Reduced scope!

/ August 30, 2019

PSA finalized its outsourcing contract with Segula, almost one year after it was announced. Looking at the details, the scope of the contract is much smaller than expected, with the people transfer initially involving 700 employees, rather than the 2,000 expected. Segula has agreed to take over the new engineers and guaranteed similar wages and benefits and also purchasing buildings and facilities.

Bertrandt issues a profit warning

/ August 25, 2019

After the profit warning of EDAG in July, Germany’s largest automotive ER&D pure-play, Bertrandt, also issued a profit warning. The company lowered its EBIT margin range guidance to 5%-7.5%, down from 7%-9% previously. Bertrandt is suffering from project delays and low utilization rates.

Akka sends mixed signals in Q2

/ August 8, 2019

Akka surprised investors with a CC/CS revenue growth slowdown in Q2 2019: revenues were up 5.1% yoy at CC (vs. 6.6% in Q1). Utilization declined by 50 bps yoy, and attrition (excluding PDS Tech) was up by a massive 530 bps, to 23.3%.

EDAG issues a profit warning

/ July 30, 2019

EDAG issued last night a profit warning for its full-year 2019 operations. The company is now expecting revenue growth by approximately 1% (previous guidance 5%), an adjusted EBIT margin of 4%-5% (previously 5%-7%), and a net profit of EUR 10m.

Cyient’s revenues decline in Q1 FY20

/ July 22, 2019

Cyient’s revenues in Q1 FY20 declined, slightly, by 2.6% yoy. The decline came as a surprise as the company had signaled it had bottomed out in Q4 FY19.