Safran : Q3 2021 – Q4 at risk but investment case remains intact
>Q3 2021: sequential growth did not disappoint - Safran is due to report its Q3 2021 results on 29 October before the market open (see table overleaf). We are forecasting sales of € 3,786m, reflecting organic growth of 12.9%, validating sequential growth vs Q2 in all divisions. For the propulsion division, we are forecasting sales of € 1,807m (+15.9% and +7% q-o-q), buoyed by a marked acceleration of services whilst deliveries are likely to only marginally increase (+...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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