Latécoère : Latécoère preview – speculative Neutral rating confirmed
>Sluggish aerostructure business - Although sales at the aerostructure business fared better than expected at the end of 2019, thanks to the decline in the production for long-haul aircraft not materialising, we nonetheless remain cautious on trends going forwards. This division will suffer from an unfavourable platform mix effect (transition from E1 to E2 at Embraer) but also from a positioning on mature programmes or on ones seeing an adjustment to production rates,...Societe Industrielle d'Aviation Latecoere and its subsidiaries are engaged in the manufacture of parts and equipment for the aeronautic and space industries. Co.'s products are mainly divided into 2 sectors: Airframe Structure and Equipment & Systems. Airframe Structure: manufactures Fuselage and Wing Structure Elements such as tail cones, forward upper shells, side parts, front spar bulkheads, nose sections, passenger doors, flaps; Nacelle Structure Elements such as fan cowls, tail engine fan cowls, translating sleeves, thrust reverser beams. Equipment & Systems: manufactures on-board electric racks, harnesses, landscape video camera system, pilot control panels and battery charge limiters.
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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