Thales : Reassuring elements pending the leverage effect of Gemalto
>Reassuring targets for 2021 (current scope) - Yesterday, Thales held a CMD that clearly demonstrated the group’s transformation and which was reassuring from a financial viewpoint. For 2018-2021, the group has set targets (excluding the integration of Gemalto) that are broadly in line with our forecasts, even though we would note management’s traditional caution when setting guidance. In detail, i/ organic sales growth of 3-5% per annum on average over the 2018-2021...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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