Dassault Aviation : At the current price, the core business now comes for free
>Good 2019 results driven by the take-off in Rafale exports - The acceleration in Rafale export deliveries drove growth in adjusted operating profit of 14% in 2019, to € 765m (ODDO BHF: € 549m), despite an increase in R&D outlays of € 135m and a one-cent deterioration in the USD hedging rate. The operating margin came to 10.4% (+120bp). Most of the variance with our estimates stemmed from an underestimation of the profitability of military export businesses (in new eq...Dassault Aviation is a player in the civil and military aviation industry. Co. designs, manufactures and sells combat aircraft under the names Rafale, Mirage 2000, nEUROn and executive jets under the name Falcon (Falcon 7X, Falcon 900LX, Falcon 2000LX) and business jets. Co. produces combat aircraft. Rafale is a fighter aircraft with a "delta-canard" configuration. Mirage 2000 is a combat aircraft operated in environments ranging from deserts to tropical forests. nEUROn is an unmanned combat aircraft vehicle demonstrator. Falcon is used for passenger transportation by entrepreneurs, executives of companies and governments. Co. also offers maintenance services, follow up and repair services.
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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