Report
Olfa Taamallah ...
  • Yan Derocles

Safran : Conservative forecasts for Q4 – A foretaste of share buybacks, with 9.4m shares compensating for dilution of the OCEANE bond

>Conservative forecasts for Q4 2022 - The target of aftermarket growth in the mid or upper end of the 25-30% guidance range in 2022 implies a flat Q4 compared with Q4 2021 and slightly negative quarter-on-quarter growth. Safran underlined the unusually high level of purchases brought forward in Q3 (growth of 36%), but we think that this vision – similar to that of MTU – is extremely conservative in view of: i/ the price effect (around 10-12%) set to take effect at the...
Underlying
Safran S.A.

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).

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Olfa Taamallah

Yan Derocles

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