Safran : Accelerating FCF generation and aftermarket upside – target upped to € 151
>Buffers exist on the 2023 aftermarket guidance - Safran expects civil aftermarket growth in dollars to be in the low twenties in 2023 after 29.3% in 2022 but we think that there is upside, notably on CFM56 spares. We now forecast 25%. On the one hand, this target includes a stabilisation of the work scope (clearly back to pre-crisis levels last year) while the end of the green time will likely force airlines to scale up their shop visits, as they have not been carrie...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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