Safran 3Q Revenue Rose, Backs 2019 View
31 Octobre 2019 - 7:41AM
Dow Jones News
By Olivia Bugault
Safran SA (SAF.FR) said Thursday that adjusted revenue in its
third quarter rose, while it maintained its 2019 guidance, the free
cash flow target of which is subject to the date of return to
service of the Boeing Co. (BA) 737 MAX.
Adjusted revenue came in 14% higher than a year earlier at 6.10
billion euros ($6.78 billion), helped by a strong performance in
its aerospace propulsion and aircraft-equipment, defense and
aerosystems segments, Safran said. On an organic basis, revenue
increased by 9.8%.
"Regarding the MAX grounding, we are supporting Boeing and based
on our current production rate of LEAP-1B engines corresponding to
42 aircraft a month, we confirm a production of around 1,800 LEAP
engines in 2019," Safran's Chief Executive Philippe Petitcolin
said.
The French aerospace-and-defense company maintained its 2019
guidance but refined its view regarding the world-wide grounding of
the 737 MAX jet. The company said that if the grounding continues
until the end of 2019, free cash flow to adjusted recurring
operating income should be around 50%, compared with a previous
forecast of below 50%.
Write to Olivia Bugault at olivia.bugault@wsj.com
(END) Dow Jones Newswires
October 31, 2019 02:26 ET (06:26 GMT)
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