Safran : Strength of the civil aftermarket segment
>Robust civil aftermarket - After stronger-than-expected growth in the civil aftermarket business in Q3 (+39% and +24% sequentially) without any notable flow of early buying, we are raising our assumption from 29.5% to 33% for FY 2023, including Q4 growth of c19% vs Q4 2022 but also very slight growth compared with Q4 2019. The company has not yet provided any indication for FY 2024 but points out that the next rate increase will take place in August, and we understan...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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