Safran : A Q3 2024 that should demonstrate the robustness of the model. However, risk to the target for FY 2024 FCF is increased with the strike at Boeing
>Q3 in line with previous quarters - We forecast Q3 sales in line with previous quarters despite a more demanding comparison base. Sales should grow by 13.7% to € 6,621m notably driven by i/ growth of 19%e in the aftermarket segment for USD-denominated civil engines (after 32.3% in Q2 and 27.3% in Q1 but vs 39% in Q3 2023) still driven by the services activities but also spare parts for CFM56 which benefit from the price hikes introduced on 1 August; ii/ strong growth...Safran designs, develops and manufactures high technology electronics through three businesses: Aerospace, Defense and Security. Aerospace includes Aerospace Propulsion (propulsion systems for commercial aircraft, military transport, training and combat aircraft, rocket engines, civil and military helicopters) and Aircraft Equipment (mechanical, hydromechanical and electromechanical equipment); Defense (optronic, avionic and electronic systems); and Security (biometric technologies for fingerprint, iris and face recognition, identity management products, access management and transaction security, including tomographic systems for detection of dangerous or illicit substances in baggage).
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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