Safran : Solid 2023 earnings – 2024 guidance should drive a c2.5% EBIT upgrade
>2023 EBIT 0.5% above the css and FCF 5.2% above css - Safran has just reported solid 2023 results with EBIT bang in line with consensus estimates at € 3,166m (ODDO BHF: € 3,205m; Css: € 3,150m), +27.2% l-f-l, for sales growth of 23.6 % l-f-l at € 23.2bn i.e. a margin of 13.6%. The performance was mainly driven by i/ propulsion, with civil aftermarket growth at 32.9% for 2023 (of which +21% in Q4, i.e. a sequential decline due to high comps) driven by spare parts for...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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