Safran : Solid 2018, trends set to continue in 2019 but greater caution on Zodiac
>A solid 2018 - We expect 2018 to slightly exceed the guidance with EBIT of € 2,938m (i.e. a margin of 14%) with € 2,655m for Safran’s historical scope (+21% vs. 2017 versus a target of “growth of around 20%â€) and +34% factoring in the consolidation of Zodiac over 10 months. The performances should be relatively uniform across the divisions with: i/ EBIT of € 1,853m (+22%) for propulsion driven by growth of 12.1%e in the civil aftermarket thanks to the dynamism of the...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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