By Mauro Orru
Sopra Steria Group SA said Wednesday that revenue for the third quarter fell, mostly due to a drop in business activity in the aeronautics sector.
The French consulting and software-development company said third-quarter revenue fell to 987.6 million euros ($1.17 billion) from EUR1.04 billion in the third quarter of 2019.
The result represents a decline of 5.9% organically.
Sopra Steria said the fall in business activity in the aeronautics sector began in the second quarter and worsened in the third quarter, falling about 30%.
The company reiterated its 2020 outlook, projecting a 2% to 4% organic decline in revenue, operating margin on business activity of between 6% and 7%, and free cash flow between EUR80 million and EUR120 million.
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