SII's better-than-expected profitability boosts shares

Societe Pour l Informatique Industrielle SA

07/06/2023 08:41

** Shares in SII  IISP.PA  jump 5.5%, set for best day since
September, after the French IT company reported
better-than-expected FY margins and EBIT
    ** The company publishes an international operating margin
for FY at 11.8%, up 10 basis points, above an expectation of a
20 basis point drop cited by Portzamparc 
    ** The broker points out the biggest surprise comes from
France, with an FY operating margin published at +7.2% (+15
basis points) vs Portzamparc -45 basis points
    ** SII also reports an operating profit from ordinary
activities at EUR 102.5 million ($109.47 million), up 27.7%
year-on-year
    ** Stifel flags EBIT is above its estimates of EUR 94
million, adding this result crossed the EUR 100 mln EBIT
milestone a year ahead of its expectations
    ** Including Wednesday's gains, the stock is up 19% YTD

($1 = 0.9363 euros)

 (Reporting by Clement Martinot)
 ((Clement.martinot@tr.com))