Safran Raises Full-Year Profit Outlook for 2024

Safran, a leading international high-technology group, announced a solid revenue increase of 14.0% for the third quarter of 2024, amounting to €6,639 million, driven mainly by the civil aftermarket and robust growth in Equipment & Defense and Aircraft Interiors segments. For the first nine months, the revenue reached €19,686 million, reflecting a 17.4% rise from the prior year.

The company updated its full-year financial outlook despite anticipated setbacks in narrowbody Original Equipment (OE) deliveries due to supply chain constraints. The revised outlook forecasts a slightly reduced annual revenue of approximately €27.1 billion, yet projects an increased recurring operating income to about €4.1 billion, with free cash flow expected around €3.0 billion.

Safran's strong performance has been fueled by the continuous growth in the aftermarket sector, notably a 20.5% increase in civil aftermarket activities. As part of its strategic growth, Safran completed a €1 billion share buyback program and bolstered its MRO capabilities with the acquisition of Preligens.