Safran : Solid business model, visibility and buyback opportunity largely outweigh short-term headwinds
>A reassuring stance on 2025 - We see Safran's CMD, held yesterday, as reassuring. It is true that the consensus is now positioned at the top end of the guidance range for 2025 but it is clear that the fact that this year is the first with a renewed management team (CEO+CFO) in an environment that is also volatile did not contribute to the group setting overly ambitious guidance. Safran sees a 2021-2025 revenue CAGR of over 10% (ODDO BHF: 13%, consensus: 13%), a 2025 ...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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