Safran : Q3 2020 preview – Trend similar to Q2 and uncertainty clouds Q4
>A Q3 in line with Q2 - In line with the company's expectations, we expect Q3 (published on 30 October) to be relatively similar to Q2 following the deterioration in air traffic seen in September. We are modelling a 43% organic decline in sales to € 3,341m (see table on next page), of which i/ €1,502m (-50%) for propulsion, penalised by a 66% decline in the civil aftermarket, i.e. the same order of magnitude as in Q2; ii/ €1,472m (-32%) for aircraft equipment. OE sale...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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