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    Ian Douglas-Pennant

    Research Analyst at UBS

    Ian Douglas-Pennant is an Equity Analyst at UBS specializing in the Aerospace and Defence sector, with analyst expertise covering key companies in this industry. With previous industry experience at Berenberg Bank, he has delivered sector research and investment analysis for established public firms in aerospace and defense. Throughout his career, Douglas-Pennant has developed a track record for in-depth coverage and actionable insight, serving institutional clients across Europe. His credentials include extensive sell-side research experience and specialized knowledge of industry trends and company fundamentals.

    Ian Douglas-Pennant's questions to Airbus SE/ADR (EADSY) leadership

    Ian Douglas-Pennant's questions to Airbus SE/ADR (EADSY) leadership • Q1 2025

    Question

    Ian Douglas-Pennant from UBS asked how Airbus will balance its profitability with the financial health of its suppliers if tariffs persist, and whether customer conversations and negotiations for new orders are changing due to the tariff situation.

    Answer

    CEO Guillaume Faury stated that since Airbus is primarily based in Europe, the vast majority of its operations are not impacted by U.S. tariffs. For U.S. operations, the company is working to derisk its supply chain. Regarding customers, he noted discussions are currently focused on managing short-term tariff impacts for U.S. clients, similar to the situation five years ago, and it has not yet affected long-term contracting. He expressed optimism that the industry will revert to a zero-tariff environment.

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    Ian Douglas-Pennant's questions to SAABF leadership

    Ian Douglas-Pennant's questions to SAABF leadership • Q4 2024

    Question

    Questioned the perceived conservatism in the company's guidance for sales, margin, and cash flow, asking for the source of uncertainty. Also inquired about the exceptionally strong margins in the Dynamics business, asking if it was due to a one-off or represents a new run rate.

    Answer

    The executive responded that the guidance is not vague but reflects substantial growth, and any uncertainty is related to the broader geopolitical landscape (e.g., NATO spending) rather than specific internal concerns. Regarding Dynamics, the strong margin was due to a favorable delivery mix, not a one-off. The ambition for the division remains mid-double-digit margins, though quarterly results will fluctuate based on mix.

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