Safran : Roadshow feedback – focus on lowering the breakeven vs limited visibility in the short term
>Gradual improvement in flight cycles but poor visibility on end of 2020 - In a roadshow organised with Philippe Petitcolin (CEO) and Bernard Delpit (CFO), Safran underlined that engine use was continuing to recover, with a decline of 46% in terms of weekly fleet cycles for the CFM56 in August (vs. a low of -83% in April). The trend is being driven by China where domestic flights are now above the level seen in 2019 and to a lesser extent by North America and Europe. ...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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