Safran : 2018 solide, poursuite des tendances en 2019 mais une dose supplémentaire de prudence sur Zodiac
>Un exercice 2018 solide - Nous tablons sur un exercice 2018 légèrement au-delà des guidances avec un EBIT de 2 938 M€ (soit une marge de 14%) dont 2 655 M€ sur le périmètre Safran historique (+21% vs. 2017 contre un objectif de « croissance d’environ 20% ») et +34% en intégrant la consolidation de Zodiac sur 10 mois. La performance devrait être relativement homogène au sein des divisions avec i/ un EBIT de 1 853 M€ (+22%) pour la Propulsion porté par une croissanc...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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