FX.co ★ Safran Posts H1 Profit Of EUR 57 Mln; Confirms FY24 Outlook

Safran SA, a prominent aircraft equipment manufacturer, announced on Wednesday that its net income attributable to shareholders for the first half of the year amounted to 57 million euros.

The adjusted net income attributable to shareholders rose to 1.43 billion euros, marking a 37-percent increase from the previous year's 1.04 billion euros. Consequently, adjusted earnings per share improved to 3.27 euros, up from 2.40 euros in the prior year.

The company reported a recurring operating income of 1.97 billion euros, with adjusted recurring operating income also reaching 1.97 billion euros, reflecting a 41-percent growth from the previous year. The recurring operating margin enhanced to 15.1 percent, up from the prior year’s 12.8 percent.

Revenue for the quarter stood at 13.20 billion euros, while adjusted revenue reached 13.05 billion euros, a 19-percent increase compared to last year’s 10.95 billion euros.

Looking forward to the fiscal year 2024, Safran SA maintains its forecast of adjusted revenue around 27.4 billion euros, with adjusted recurring operating income nearing 4.0 billion euros.

The company expressed strong confidence in meeting its 2024 financial targets, particularly regarding the operating result, despite some anticipated pressures on cash flow, primarily due to the timing of advance payments.