Safran : La vigueur de l’après-vente demeure mais l’incertitude sur le MAX persiste
>Une fin d’année 2019 solide - La vigueur de l’après-vente civile a permis de compenser l’essentiel de l’impact de la crise du B737 Max sur la fin de l’année. Sur l’ensemble de l’exercice 2019, nous tablons sur un EBIT en progression de 26% à 3 817 M€ (Cons. FactSet : 3 727 M€) porté par i/ une croissance de près de 11% de l’après-vente civile en USD dont c12% au T4 principalement tirée par les rechanges de CFM56 mais également par les moteurs de forte puissance, ii/ ...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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