Thales : Return to growth
>A good performance in terms of FCF but with phasing elements - Over and above solid results, FCF of € 420m in H1 was clearly the positive surprise of this publication but the group has indicated that a number of elements should be analysed such as the delays to phasing like anticipated payment by certain clients and the reimbursement of tax. For 2021, the implied target stands at around € 1.3bn vs a shade below € 1bn previously, after i/ the integration of a higher l...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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