Airbus Group : Effet mix, volume, économies structurelles… des leviers à tous les étages
>Forte accélération de la rentabilité en 2021 en dépit d’une reprise des dépenses - Nous relevons notre EBIT Ajusté 2021 de 22.6% à 4.2 Md€ dont c3.1 Md€ pour Airbus Commercial (soit une marge de 8.6% et de 15.3% pré-R&D ie seulement -70 pb vs 2019) avec une hypothèse qui nous semble prudente de reprise des dépenses et de coûts de mise en place de la montée en cadence (c500 M€ incrémental par rapport au S1 2021 net des économies). Certes le S2 2021 fera face à des ven...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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