Safran : A solid Q3 that could lead to a revision of 2.3% to our full-year 2018 EBIT forecast
>Q3 4.6% ahead of forecasts - Yesterday evening Safran reported solid Q3 results with sales coming in 4.6% ahead of forecasts at € 5,348m (Oddo: € 5,123m, consensus: € 5,115m) and 3.9% ahead excluding Zodiac. Organic growth amounted to 11.4% lifted by: i/ a 19.2% increase in civil aftermarket sales in propulsion (vs 11%e) driven by spare parts but also by a progression in revenue recognition for services contracts; ii/ much stronger growth than expected in services in...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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