Safran : Max issue keeping lid on upside for now
>An excellent H1 2019 in prospect - Leaving the B737 Max aside, all the indicators are on green. We forecast an excellent set of H1 2019 figures (release on 5 September), with operating profit up 26.9% at € 1.759bn, on organic sales growth of 7.3% to € 11.44bn. We expect a continuation of the robust trends in evidence in Q1, with i/ civil aftermarket growth of 10.6% in propulsion, largely offsetting the transition cost for CFM-Leap (the consequences of the Max aircraf...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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