on SOPRA GROUP (EPA:SOP)
Sopra Steria Q3 2024 Revenue Shows Resilience
Sopra Steria Group reported consolidated revenue of €1,356.9 million for Q3 2024, an increase of 0.9% compared to the same period in 2023. The European market faced a wait-and-see approach except in Spain, Italy, and Norway, impacting overall momentum. However, substantial positions in transport, aeronautics, the public sector, and defense were renewed.
The company completed the sale of Sopra Banking Software, emphasizing its focus on digital services. This move, finalized on 2 September 2024, improved the balance sheet and financial flexibility. During the quarter, the group was recognized for its excellence in cloud infrastructure and AI services.
In France, revenue decreased by 1.2%, while the UK saw an organic growth of 2.3%. The Europe segment slightly contracted by 0.5%. Looking ahead, Sopra Steria maintains stable revenue targets for the full year 2024, with an expected operating margin of at least 9.7% and a free cash flow of approximately €350 million.
R. H.
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