Thales : Le consensus intègre un scénario du pire en termes de conversion de cash
>R&D et Transport pèsent sur les objectifs 2019-23 - Si les présentations du CMD ont permis de mieux cerner les apports technologiques de Gemalto et les opportunités en termes de synergies de revenus, les objectifs financiers 2019-2023 sont apparus un peu prudents pénalisés par i/ une progression plus forte qu’anticipé de la R&D autofinancée pour atteindre 6.3% à 6.5% du CA contre 6% l’année dernière (et notre estimation de 6%), soit l’équivalent de 30 à 50 pb de marg...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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