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Investing.com -- French engineering and technology consulting firm Alten SA reported fourth-quarter revenue of €4.14 billion, surpassing last year's €4.07 billion, despite challenging macroeconomic conditions.
The company's shares jumped 10% following the announcement, as investors welcomed the better-than-expected performance.
For the full year 2024, Alten's revenue grew by 1.8%, with a 4.8% increase in France and a 0.4% rise outside of France. However, at constant scope and exchange rates, the company experienced a slight decline of 0.2% overall, with France growing 4.8% while international operations contracted by 2.6%.
The fourth quarter saw a 0.5% decrease in activity, with France growing 2% while international markets declined by 1.7%. On a constant data basis, the quarter's activity fell by 2.7%, reflecting a 2% growth in France offset by a 5% drop outside the country.
CEO Simon Azoulay commented, "Despite the challenging macroeconomic environment, particularly in Europe, our Defense & Security, Civil Aeronautics, Rail, and Energy sectors continued to show growth."
Alten reported satisfactory organic growth in France and Southern Europe, while noting a noticeable decline in activity in the UK and Northern Europe. Asia and North America experienced slight decreases in activity.
The company completed two overseas acquisitions in 2024, expanding its presence in Asia and Poland. Additionally, Alten finalized the acquisition of WORLDGRID, a European leader in Energy and Utilities solutions, at the end of December. The company also divested a subsidiary in Asia.
Looking ahead, Alten cautioned that the start of 2025 does not show signs of a pick-up in activity, which is expected to stabilize in the first half of the year.
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