Safran : Tous les moteurs étaient allumés au S1 2019 avec quelques exceptionnels améliorant le FCF
>Tous les voyants étaient au vert sur le S1 2019 - Nous attendions un premier semestre excellent… il fût impressionnant. L’EBIT est ressorti à 1 883 M€ (+36%) pour un CA en croissance organique de 12.4%, soit une marge de 15.6%. Au final, EBIT 7% au-delà de nos attentes et 11% de celles du consensus. Par rapport à nos estimations, cette performance s’explique essentiellement par la division Propulsion qui bénéficie : i/ d’une croissance de l’après-vente civile de 10.2...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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