Safran confirms 2024 targets after strong H1 2024 growth in revenue and profit

Safran has announced that it is on track to meet its 2024 targets after reporting a significant increase in first-half results.  

The company’s strong performance was largely driven by growing demand for civil engine services in a dynamic air traffic environment. Its turnover reached €13 billion, a 19% rise from the same period last year, driven by robust growth across its divisions.

A strong rebound in services for engines and aircraft components and a marked improvement in Aircraft Interiors supported the impressive performance. 

“Safran has had a very good start to the year with an operating margin exceeding 15% of sales,” Safran’s CEO Olivier Andriès highlighted. “Our main objective today is to manage the performance of our suppliers as closely as possible in order to meet the commitments made to our customers, particularly regarding engine deliveries, and to mitigate any associated impacts.” 

Safran has confirmed its annual outlook for 2024, anticipating a turnover of approximately €27.4 billion, a current operating result near €4.0 billion, and a free cash flow of around €3.0 billion. The forecast reflects anticipated increases in LEAP engine deliveries and civil engine services revenue. 

“We are very confident in our ability to achieve our financial objectives for 2024, particularly regarding operating income and with some pressure on cash flows, notably due to the timing of customer down payments,” Andriès concluded. The post Safran confirms 2024 targets after strong H1 2024 growth in revenue and profit appeared first on AeroTime.

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