Safran : H1 2020 preview – solid resilience with a good-quality Q1 and proactive stance
>Resilient showing from propulsion segment - While the break in trend in Q2 is obviously significant, we nonetheless forecast H1 2020 EBIT of € 837m (-56%) on sales down 30% in reported terms and 32% on an organic basis, i.e. a margin of 9.9% (-635bp). A number of one-offs such as restructuring charges and asset impairments could be booked as of H1. Safran should also be in a position to issue guidance for full-year 2020.In detail, for the propulsion division we ...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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