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    Sash Tusa

    Partner and senior equity analyst at Agency Partners London

    Sash Tusa is a Partner and senior equity analyst at Agency Partners LLP in London, specializing in aerospace and defense sector research with over 30 years of industry experience. He covers major European aerospace and defense companies and has played key roles in advisory and analysis for landmark industry transactions, including the mergers of British Aerospace and GEC Marconi, DASA, CASA and Aerospatiale, and public offerings for EADS and MTU Aero Engines. Previously, Tusa led European Aerospace & Defense research at Goldman Sachs, consistently achieving top 3 analyst rankings in external surveys, and also held positions at UBS, Robert Fleming, and as a fund manager at Schroders before joining Agency Partners in 2015. He began his career in the military aircraft industry, serves as a reservist British Army officer, and is recognized for his expertise in both investment research and corporate advisory; however, specific FINRA or securities licenses are not publicly listed.

    Sash Tusa's questions to SAABF leadership

    Sash Tusa's questions to SAABF leadership • Q4 2024

    Question

    Asked for details on the Surveillance business charges, specifically if they were in the remote towers business and whether the issue was competitive or technical. Also questioned the very high corporate costs in Q4, the reason for the increase, and the expected run rate going forward.

    Answer

    The executive clarified the Surveillance provision was related to the civil security business (e.g., dispatch systems), not air traffic management. On corporate costs, the Q4 spike was due to the phasing of increased IT and security investments related to new facilities, and this level is not the new run rate, although some costs will increase with growth.

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