The Los Angeles Post
U.S. World Business Lifestyle
Today: April 03, 2025
Today: April 03, 2025

Safran posts Q3 revenues up 26%, reaffirms key targets

FILE PHOTO: The logo of Safran is seen outside the company's headquarters in Issy-les-Moulineaux near Paris
April 26, 2024
Reuters - Reuters

PARIS (Reuters) - France's Safran on Friday posted 26% higher underlying third-quarter revenues and reaffirmed full-year financial targets.

The jet engine and equipment maker said quarterly revenues rose 20.1% - or 25.9% on a like-for-like basis - to 5.825 billion euros, led by core propulsion revenues and buoyed by refurbishment projects at its Aircraft Interiors division.

Safran co-produces LEAP jet engines for Boeing and Airbus narrow-body jets with GE through their CFM International joint venture.

Safran followed GE in trimming the full-year percentage growth forecast for LEAP engine deliveries to 40-45% from around 50%. So far this year, deliveries of the fuel-saving engine have risen 45% to 1,174 units.

It raised its percentage growth forecast for civil aftermarket sales to the low 30s from mid to high 20s, after the widely watched performance indicator grew 38% in dollar terms in the first nine months.

The contrasting moves come as supply chains weigh on new deliveries while surging travel demand pushes up fleet repairs.

CEO Olivier Andries said in a statement Safran's priority "remains to ramp-up production while we still operate in a constrained supply chain environment".

(Reporting by Tim Hepherm, editing by Tassilo Hummel)

Related Articles

Qantas CEO says Project Sunrise flights to start in 2027 16-year-old boy becomes licensed hot-air balloon pilot Airbus says next jet 'evolutionary not revolutionary' Malaysia Airlines parent to buy 30 Boeing 737 MAX jets, aims to modernise fleet
Share This

Popular

Business|Economy|Political|US

Hear Trump break down tariffs on various countries

Hear Trump break down tariffs on various countries
Americas|Business|Economy|Europe|Political|US

German industry expects severe hit from Trump tariffs

German industry expects severe hit from Trump tariffs
Business|Economy|Europe

DHL sees EBIT growth in mail and parcel division after 2030

DHL sees EBIT growth in mail and parcel division after 2030
Business|Economy|Political|US|World

World leaders condemn Trump's tariffs, some pledge retaliation

World leaders condemn Trump's tariffs, some pledge retaliation

Europe

Europe|Political|US|World

Rubio arrives for NATO talks as allies wait to learn of US plans for a likely drawdown in Europe

Rubio arrives for NATO talks as allies wait to learn of US plans for a likely drawdown in Europe
Business|Economy|Europe|Political|World

Disruption to global trade is a threat to open UK economy, business minister says

Disruption to global trade is a threat to open UK economy, business minister says
Business|Economy|Europe|Fashion and Beauty|Finance

Poland's LPP forecasts sales growth driven by growing Sinsay store network

Poland's LPP forecasts sales growth driven by growing Sinsay store network
Business|Crime|Election|Europe|Political

The EU Parliament has transparency problems. Marine Le Pen's case is a window into what's wrong

The EU Parliament has transparency problems. Marine Le Pen's case is a window into what's wrong

Access this article for free.

Already have an account? Sign In