Thales : Ddé A slow start to the year - Gemalto adjusted to Thales’ norms
>Q1 2019 penalised by demanding comparison bases - Whilst it should be remembered that Q1 traditionally makes the smallest contribution to Thales’ full-year performance, we nonetheless expect a slow start to the year primarily due to very unfavourable comparison bases in transport (+29% on an organic basis in Q1 2018) and defence (+10%). At the same time, the aerospace segment is likely to suffer from the lacklustre level of order intake in the satcom segment over the...Thales is an electronics and systems group, serving defense, aeronautics, transport, space and security markets. Co.'s operations can be divided into four operating segments: Aerospace (Avionics, Space), Transportation (Ground Transport Systems), Defence & Security (Secure Communications & Information Systems Land and Air Systems, Defence Mission Systems), and DCNS. Co. designs and delivers systems for all four environments: air, land, sea and space. These systems detect and assess threats, manage information, support command decisions and control engagements through to threat neutralization. Co. is active in ground transportation; air transport; navigation systems.
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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