Safran : Confiance dans la croissance et allocation de capital favorable à l’actionnaire
>Des objectifs 2022 à première vue en ligne avec nos estimations… - A première lecture, les objectifs 2022 dévoilés lors du CMD nous sont apparus légèrement décevants, en particulier au niveau de la conversion cash. Safran table sur i/ une marge d'EBIT comprise entre 16 et 18% en 2022 (Oddo BHF: 17.6%) portée par un retour à une rentabilité d’environ 15% pour Zodiac y compris synergies (Oddo BHF: 15.6%), par une progression de la marge d’au moins 400 pb dans la Propul...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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