Dassault Aviation : Road show: positive developments that underpin our recommendation
>The group produced an excellent vintage in 2018 despite the fall in the Falcon - Dassault Aviation clearly beat our expectations and those of the market in terms of gross order intake (53 Falcon vs 45-50 expected), adjusted operating profit excluding Safran compensation (€ 468m vs € 355m est.), net profit (€ 549m vs € 541m) and FCF € 1.1bn vs € 559m. This improved operating performance is partly due to provision writebacks on second-hand aircraft that have become red...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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