French aerospace supplier reports strong Q1 performance
- Safran reports adjusted revenue of €6.2 billion, beating analysts’ expectations
- Revenue increased by 18% in reported terms and 19% organically
- Growth seen across all units as air traffic recovers post-pandemic
- Adjusted revenue at Safran’s propulsion business climbed 14%
- Equipment and defense unit posted a 24% increase
- Aircraft interiors business contributed €676 million, up nearly 16% on year
- Safran expects adjusted revenue of roughly €27.4 billion by 2024
Safran, the French aerospace-industry supplier, has reported adjusted revenue of €6.2 billion for the first quarter, surpassing analysts’ expectations. The company experienced growth across all units as air traffic continues to recover post-pandemic. Revenue increased by 18% in reported terms and 19% organically. Safran’s propulsion business saw a 14% climb in adjusted revenue, while the equipment and defense unit posted a 24% increase. The aircraft interiors business also contributed significantly, with a nearly 16% growth compared to the previous year. Looking ahead, Safran expects adjusted revenue of roughly €27.4 billion by 2024.
Factuality Level: 8
Factuality Justification: The article provides specific details about Safran’s adjusted revenue for the first quarter, including comparisons to analysts’ expectations and breakdowns by business units. The information is presented in a straightforward manner without digressions or sensationalism. The article does not contain any obvious bias or personal perspective, and the facts reported align with financial reporting standards.
Noise Level: 3
Noise Justification: The article provides relevant information about Safran’s financial performance, exceeding analysts’ expectations for the first quarter. It includes specific details on revenue growth across different units and provides insight into the company’s future expectations for 2024. The article stays on topic and does not contain irrelevant or misleading information.
Financial Relevance: Yes
Financial Markets Impacted: Safran
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to financial topics as it discusses Safran’s revenue performance and expectations for the future.
Public Companies: Safran (SAF)
Key People: Mauro Orru (Writer)
Reported publicly:
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