Airbus is an European Aeronautic Defense and Space company whose core business is the manufacturing of commercial aircraft, civil and military helicopters, commercial space launch vehicles, missiles, military aircraft, satellites and defense systems and defense electronics and the rendering of services related to these activities. Co. organizes its businesses into the following five operating divisions: Airbus Commercial, Airbus Military, Eurocopter, Cassidian and Astrium. In addition, Co.'s Other Businesses division engages in the development, manufacturing, marketing and sale of regional turboprop aircraft and aircraft components.
  • TickerAIR
  • ISINNL0000235190
  • ExchangeEuronext Paris
  • SectorAerospace & Defense
  • CountryNetherlands

AIRBUS sees a downgrade to Slightly Negative on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of AIRBUS (FR), active in the Aerospace & Defense industry. As regards its fundamental valuation, the title now shows 2 out of 4 stars while market behaviour can be considered risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Slightly Negative. As of the analysis date September 11, 2020, the closing price was EUR 68.82 and its target price was estimated at EUR 45.70.

Alain William ...
  • Anis Zgaya
  • Fatma Ayachi
  • Hana Jomni
  • Louis Boujard, CFA
  • Marc Lavaud
  • Martial Descoutures
  • Michael Foundoukidis
  • Olfa Taamallah
  • Oussema Denguir
  • Oussema Ettaieb
  • Philippe Ourpatian
  • Sebastien Malafosse
  • Syrine Kabboura
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 09/09/2020

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Alain William ...
  • Anis Zgaya
  • Fatma Ayachi
  • Hana Jomni
  • Louis Boujard, CFA
  • Marc Lavaud
  • Martial Descoutures
  • Michael Foundoukidis
  • Olfa Taamallah
  • Oussema Denguir
  • Oussema Ettaieb
  • Philippe Ourpatian
  • Sebastien Malafosse
  • Syrine Kabboura
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 09/09/2020

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Fatma Ayachi ...
  • Olfa Taamallah
  • Oussema Ettaieb
  • Yan Derocles

Airbus Group : Production=delivery alignment on track

>The alignment of production to deliveries has been all but achieved - For August, Airbus delivered 39 aircraft (after 47 in July, 31 in June, 18 in May and 12 during the low point in April), i.e., 3 fewer aircraft than in August 2019 in spite of continuing travel restrictions and which impedes acceptance by certain clients. For the A320 family, 35 aircraft were received (vs 28 in August 2019). Whilst August is traditionally a quiet month due to the closure of factori...

Fatma Ayachi ...
  • Olfa Taamallah
  • Oussema Ettaieb
  • Yan Derocles

Airbus Group : Un alignement production=livraisons en bonne voie

>L’alignement de la production aux livraisons est sur le point d’être réalisé - Sur le mois d’août, Airbus a finalement livré 39 appareils (après 47 en juillet, 31 en juin, 18 en mai et 12 lors du point bas d’avril), soit 3 avions de moins qu’au mois d’août 2019 en dépit des restrictions de voyages qui perdurent et qui gênent l’acceptation de certains clients. Concernant la famille A320, 35 appareils ont été réceptionnés (vs. 28 en aout 2019). Si ce mois est tradition...

Valérie GASTALDY

Analyse court terme - AIRBUS GROUP NV : Les prix baissent.

La tendance est baissière. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 95,36 €. La tendance baissière serait remise en cause au-dessus de 110,90 €.

Valérie GASTALDY

Short term view - AIRBUS GROUP NV : Falling prices.

The trend is bearish. Prices are falling again, but the movement has become hesitant. The next support is at €95.36. The bearish trend would be challenged above €110.90.

Valérie GASTALDY

Analyse court terme - AIRBUS GROUP NV : La tendance est baissière.

La tendance est baissière. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 95,36 €. La tendance baissière serait remise en cause au-dessus de 110,90 €.

Valérie GASTALDY

Short term view - AIRBUS GROUP NV : The trend is bearish.

The trend is bearish. Prices are falling again, but the movement has become hesitant. The next support is at €95.36. The bearish trend would be challenged above €110.90.

Valérie GASTALDY

Analyse moyen terme - AIRBUS GROUP NV : La baisse récente gagne en vigueur.

La tendance est haussière. La baisse récente gagne en vigueur. Le prochain support est à 96,92 €. La tendance serait remise en cause par la rupture de 90,20 €.

Airbus Group N.V.: 2 directors bought/maiden bought

Two Directors at Airbus Group N.V. bought/maiden bought 3,847 shares at between 51.530EUR and 53.410EUR. The significance rating of the trade was 59/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted u...

Fatma Ayachi ...
  • Olfa Taamallah
  • Oussema Ettaieb
  • Yan Derocles

Airbus Group : Production=delivery alignment on track

>The alignment of production to deliveries has been all but achieved - For August, Airbus delivered 39 aircraft (after 47 in July, 31 in June, 18 in May and 12 during the low point in April), i.e., 3 fewer aircraft than in August 2019 in spite of continuing travel restrictions and which impedes acceptance by certain clients. For the A320 family, 35 aircraft were received (vs 28 in August 2019). Whilst August is traditionally a quiet month due to the closure of factori...

Fatma Ayachi ...
  • Olfa Taamallah
  • Oussema Ettaieb
  • Yan Derocles

Airbus Group : Un alignement production=livraisons en bonne voie

>L’alignement de la production aux livraisons est sur le point d’être réalisé - Sur le mois d’août, Airbus a finalement livré 39 appareils (après 47 en juillet, 31 en juin, 18 en mai et 12 lors du point bas d’avril), soit 3 avions de moins qu’au mois d’août 2019 en dépit des restrictions de voyages qui perdurent et qui gênent l’acceptation de certains clients. Concernant la famille A320, 35 appareils ont été réceptionnés (vs. 28 en aout 2019). Si ce mois est tradition...

Antoine Boivin-Champeaux ...
  • Yan Derocles

Airbus Group : The peak in cash burn is behind us – visibility on deliveries is improving

>Production and deliveries set to converge in Q3 - After an additional cut of one A350/month (from 6 to 5), the company thinks that it can now make production (including that in the supply chain) converge with deliveries in Q3 2020, which on one hand shows short-term visibility on deliveries following the completion of talks with customers and, on the other hand, that it has finalised adjustments to production. With 469 deliveries expected in 2020, our scenario is in ...

Antoine Boivin-Champeaux ...
  • Yan Derocles

Airbus Group : Le pic de cash burn est derrière nous – La visibilité sur les livraisons s’améliore

>Une convergence entre production et livraisons au cours du T3 - Après une coupe supplémentaire de 1 A350/mois (de 6 à 5), la société pense pouvoir converger la production (y compris celle de la supply chain) avec les livraisons dès le T3 2020, ce qui démontre d’une part, une visibilité à court terme sur les livraisons suite à la finalisation des discussions avec les clients et d’autre part, un ajustement finalisé de la production. Avec 469 livraisons anticipées en 20...

Antoine Boivin-Champeaux ...
  • Yan Derocles

Airbus Group : Q2 FCF better than expected and halt to cash burn expected in H2

>Lower than expected Q2 2020 but cash burn significantly reduced - Airbus has reported Q2 2020 earnings slightly below our estimates with an underlying operating loss of €1.226bn (ODDO BHF: -€ 1.271bn, Cons: -€1.027bn) for sales down 55% to €8.3bn. As expected, the figure includes the booking of €0.9bn in exceptional items, with no impact on cash, including depreciation of programmes and assets following the halt to the programme to re-internalise engine nacelles ...

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 02/01/2020 - Secteur chimique européen

Secteur chimique européen: Des revenus stables attendus dans le secteur en 2020, après un recul de -1% en 2019 Automobile - France : Les immatriculations de voitures en hausse de +1,9% à 2,2m en 2019 Le Portugal pourrait bénéficier d’une hausse de son rating dès le 17 janvier Le volume des fusions & acquisitions ressort à plus de $3.850 mds en 2019 (-3,3%), la 4ème année la plus active, Goldman Sachs affiche environ 35% de part de marché Vivendi (Achat) : Finalise la cession de 10% d'UMG à Tencent pour €3 mds Ahold Delhaize (Achat) : Lance un progra...

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 19/11/2019 - Aroundtown - FR

Aroundtown (Conserver) : Fusion avec TLG Immobilien (Achat) Erste Group Bank (Achat) : Emission d'un nouveau titre Tier 2 à mid-swap+130pbs Accor (Achat) : Cède 5,2% de sa filiale AccorInvest pour €204m Casino (Achat souches courtes, Conserver souches longues) : Nouvelle ligne de crédit syndiquée de €2 mds ArcelorMittal (Achat) : Finalise l'acquisition d'Essar Steel d’un montant de $5,8 mds Coty (Achat) : Acquisition de 51% du groupe Kylie Jenner pour $600m Volkswagen (Achat) : Revoit à la baisse ses perspectives de moyen-terme 2016-2020 ...

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 31/10/2019 - BNP Paribas - FR

BNP Paribas (Conserver) : Résultat avant impôts de €8,9mds (+4,0%) sur les 9M-19 Peugeot / Fiat Chrysler Automobiles (Achat) : 3,7mds de synergies sont à attendre de la fusion Standard Chartered (Achat) - 9M-19 : PNB de $11,7 mds (+2,6%) BBVA (Achat) - 9M-19 : PNB de €18,1 mds ( 3,0%, 3,8% à tcc) Casino (Achat souches courtes, Conserver souches longues): Emission senior de €750m, garantie par une holding regroupant les actifs immobiliers en France General Electric (Achat) - 9M-19 : Perte nette de -$6,0mds (-$23,4mds un an avant) Johnson & J...

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 30/10/2019 - Fiat Chrysler Automobiles (Achat) – Peugeot (Achat) - FR

Fiat Chrysler Automobiles (Achat) – Peugeot (Achat) : Nouvelles discussions sur une fusion des deux groupes Unicaja Banco : Emission d'une obligation Tier 2 10NC5 Santander (Achat) - 9M-19 : PNB de €37,0 mds (+2,8%) Deutsche Bank (Vente) - 9M-19 : Perte nette de €4,1mds (RN de €455m un an avant) Pirelli (Achat) - 9M-19 : EBITDA de €979m (+7,8%) Fresenius (Conserver) - 9M-19 : EBITDA de €4,5 mds (+2,7%) Atos  (Achat) : Finalise la cession de Worldline et émission convertible de €500m Stora Enso (Achat) - 9M-19 : EBIT de €841m (-20...

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 23/10/2019 - Casino, BPER - Ubi Banca, Eramet- EN

Casino (O/P On Short Term Bonds, M/P On Long Term Bonds): Obtains New Secured Bank Loans, Downgrade Of Its Rating By Moody's BPER (O/P vs M/P) - UBI Banca (O/P): Rumours of A Merger Eramet (M/P): Confirms its Production Targets Softbank (M/P): $5bn Additional Funding Injected Into Wework Peugeot (O/P) - Q3-19: Revenues Up 1% To €15.6bn Crown European Holdings (M/P): Issued A €550m 3NLC 0.875% Bond Boston Scientific: 8Y Senior Unsecured Bond issue planned Akzo Nobel (M/P) - 9M19: EBITDA Of €1.0bn (+29%)

Alain William ...
  • Anis Zgaya
  • Fatma Ayachi
  • Hana Jomni
  • Louis Boujard, CFA
  • Marc Lavaud
  • Martial Descoutures
  • Michael Foundoukidis
  • Olfa Taamallah
  • Oussema Denguir
  • Oussema Ettaieb
  • Philippe Ourpatian
  • Sebastien Malafosse
  • Syrine Kabboura
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 09/09/2020

...

Alain William ...
  • Anis Zgaya
  • Fatma Ayachi
  • Hana Jomni
  • Louis Boujard, CFA
  • Marc Lavaud
  • Martial Descoutures
  • Michael Foundoukidis
  • Olfa Taamallah
  • Oussema Denguir
  • Oussema Ettaieb
  • Philippe Ourpatian
  • Sebastien Malafosse
  • Syrine Kabboura
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 09/09/2020

...

AIRBUS sees a downgrade to Slightly Negative on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of AIRBUS (FR), active in the Aerospace & Defense industry. As regards its fundamental valuation, the title now shows 2 out of 4 stars while market behaviour can be considered risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Slightly Negative. As of the analysis date September 11, 2020, the closing price was EUR 68.82 and its target price was estimated at EUR 45.70.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the we...

Jehanne Leroy

Airbus - Assemblée Générale 16/04/2020

Par communiqué du 23 mars 2020 (/content/dam/events/annual-general-meeting/AGM%202020%20-%20Withdraw-Agenda-Item_23032020.pdf), la société a indiqué retirer de l'ordre du jour la résolution 2 relative au dividende. Gouvernance : A l'issue de la présente assemblée, Denis Ranque laissera sa place de Président du Conseil à René Obermann. La société propose cette année la nomination de 2 administrateurs : Mark Dunkerley et Stephan Gemkow. En raison de leur absence de conflit d’intérêts de l’absence de cumul d’un nombre excessif de mandats et de leurs compétences, nous soutenons ces nominations. ...

Expert Corporate Governance Service (ECGS)

Airbus - AGM 16/04/2020

UPDATE: The Company published on 23 March 2020 a press release (/content/dam/events/annual-general-meeting/AGM%202020%20-%20Withdraw-Agenda-Item_23032020.pdf) indicating that voting item 2 (Dividend) is withdrawn. ITEM 6: For the first time shareholders are asked to approve the remuneration policy and not just the changes proposed. Therefore, it is the first time they can either support this global remuneration policy, if deemed acceptable, or sanction it if not. Even if changes proposed are positive, this remuneration policy still has some major weaknesses and cannot be supported. Thus, we re...

Expert Corporate Governance Service (ECGS)

Airbus Group - AGM 16 april 2020

ITEM 6: For the first time shareholders are asked to approve the remuneration policy and not just the changes proposed. Therefore, it is the first time they can either support this global remuneration policy, if deemed acceptable, or sanction it if not. Even if changes proposed are positive, this remuneration policy still has some major weaknesses and cannot be supported. Thus, we recommend shareholders to oppose.  ITEMS 8 and 7: the company proposes to elect 2 directors: Mark Dunkerley and Stephan Gemkow. As they are independent, do not have an excessive number of mandates and bring specific...

Airbus Group April 10th, 2019

ITEM 6: the company proposes to amend the CEO remuneration policy regarding its indemnity and non-compete clause (applicable for the new CEO, not for Tom Enders). These amendments will, mainly, allow limiting amounts that could be granted, which we welcome. However, we regret that the company did not make any change in the supplementary pension plan as it is very generous (we remind that for Tom Enders, as of 31 December 2018,the defined benefit obligation amounts to € 26.3 M vs € 21.2 M at the end of 2017).  We note that Tom Enders will not receive any severance payment and no LTI was grante...

Airbus - Assemblée générale des actionnaires du 10 avril 2019

Proxinvest publiera une étude analysant les résolutions proposées lors de la tenue de l’assemblée générale des actionnaires. Vous pouvez l'acquérir dès à présent et elle vous sera adressée par ResearchPool une fois publiée.

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