Safran : The net cash position as of end-2022 paves the way to new opportunities
>Focus on the supply chain - Like the rest of the industry, Safran has designated the risk of its supply chain, in particular the US arm (recruitment, wage inflation, supply issues, etc.), as the main focus. Moreover, some 50 Leap engines could not be delivered in Q4 2021 and the absence of a precise delivery target for 2022 shows the level of uncertainty. We forecast the delivery of around 1,200 Leap vs 845 in 2021, before reaching roughly 2,000 in 2023. Suppliers wi...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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