January 31. In few days Bloomberg will have report form
Europe what revenue and income in Euro is expected.(I will post it)
Do not look at eps in US $. This est. is based on onlu few analysts.
WHat is matter is est. in Euro done by over 20 analysts including those in Europe.
For now:
Wednesday January 24 2001, 13h10
Alcatel: results 2000 should be in conformity with
waitings
Recommendation To buy
Go back to recommendation... 24/01/2001
Run of recommendation... 65,95
Author Stuart Jeffrey
Establishment HSBC
Alcatel which must publish its annual results on January 31 2001, should be able to
reach the forecasts of Stuart Jeffrey, the analyst which follows the value with its
team at HSBC, even if, specifies it, these last are in top of the fork of the expectations
of the market.
Its optimism rests in particular on the last presentation of the group in November
2000 where management had been shown extremely trustful on its objectives and
prospects.
On the level of the sales, it anticipates a growth of about 35% on the whole of the
year drawn by the optical transmission and the equipment broad band. More in
detail, it thinks that the progression in the 4th quarter should be registered in retreat
compared to the previous quarter (+23% against +50% in the 3rd quarter). It
specifies however that this deceleration is above all related to the will of the group
to reduce the saisonnality of its activity by more equitably smoothing its sales on
each of the 4 quarters. For 2001, it anticipates a growth of the sales of 25% with a continuation of the profits of shares
of market and the reinforcement of the activity in the United States.
On the results, it expects a trading margin of 7,5% into 2000 specifying that this last was under pressure over the
period taking into account the heavy investments in R & D as well as costs of launching of new technologies. For
2001, it reports that the group intends to record a rate of growth of its turnover twice higher than that of its sales.
Among the risks identified by the analyst and which could call in question these forecasts, it quotes in particular the
reduction of the expenditure of the operators, the problem of the financing provider of the latter and the deceleration
of the sales of software and services.
On the whole, there remains however trustful on the file and reiterates its recommendation of purchase of the value
with an objective of course of 100 euros, that is to say a potential of 51%.
Copyright ¸ 2001 Concerto and Associés
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