Safran : Q1 2020 in line - Massive cost-cutting plan consistent with the sharp fall in aftermarket
>Q1 in line with forecasts - Yesterday evening Safran published Q1 2020 sales fully in line with the consensus compiled by the group, with two distinct phases: 1/ January-February with a decline of 1.7% in line with the guidance and 2/ a sharp decline in March with a fall of 20.4%. For Q1 as a whole, sales showed an organic contraction of 8.8% to € 5,383m (ODDO BHF: € 5,494m, consensus: € 5,363m) strongly penalised by aircraft interiors (-15% l-f-l) with a sharp fall ...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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