Report
Antoine Boivin-Champeaux ...
  • Yan Derocles

BAE Systems : La hausse des budgets de défense profite encore peu au groupe

>Le S1 a clairement déçu - Avec un chiffre d’affaires en retrait de 8%, un EBIT de 6% et un résultat net de 9%, le S1 peut être qualifié de médiocre d’autant que la norme IFRS15 a gonflé le résultat d’une des divisions. La division Electronic Systems, quasi-exclusivement américaine, reste en tête de la croissance (+9% en $) et des marges (14,3%) et cette tendance devrait s’accentuer. Mais les autres divisions déçoivent à un titre ou à un autre, la Cyber & Intelligence...
Underlying
BAE Systems plc

BAE Systems is a defense, aerospace and security solutions provider. Co. supplies defense equipment, electronics and services, and cyber, intelligence and security solutions for governments and commercial markets. Co.'s offerings include the: manufacture of Typhoon assemblies for European partner nations and other export customers; design and manufacture of sub-assemblies in the U.K. and provision of equipment in the U.S.; development of future air system capabilities, including unmanned air systems; maintenance, support and training for Typhoon aircraft in service with the U.K. and Saudi Arabian air forces; and design, manufacture and support of defense and commercial avionics equipment.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Antoine Boivin-Champeaux

Yan Derocles

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Matthias Desmarais
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