Airbus Group : 2022 guidance leaves room for pleasant surprises
>Leverage on 2022e FCF - We are convinced that Airbus has maintained its traditional caution in setting its FCF guidance for 2022 at € 3.5bn. Keep in mind that at the beginning of 2021, the company was anticipating FCF at breakeven FCF versus the realised performance of € 3.5bn. In particular, we understand that the company is taking a cautious approach regarding the trend for inventories of finished goods, particularly in the wide-body segment (“mid double digit” air...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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