On Friday, Safran SA announced growth in segment-wide revenue for the third quarter, driven by increased aftermarket activities, prompting an upward revision of its full-year profit forecast.
Safran lifts profit guidance as revenue jumps
The Paris-based aircraft engine manufacturer reported a 13% increase in consolidated revenue, reaching EUR6.68 billion for the third quarter ending September 30, up from EUR5.94 billion in the same period last year.
Adjusted revenue also rose
Adjusted revenue grew by 14%, rising to EUR6.64 billion from EUR5.83 billion.
CEO Olivier Andries noted, "Deliveries of narrowbody original equipment were constrained by supply chain bottlenecks in certain areas. The group’s priority remains meeting customer needs and addressing supply chain challenges. We are confident in our continued path toward profitable growth in the coming years."
In terms of specific segments, propulsion organic revenue increased by 9.2%, Equipment & Defence by 16%, and Aircraft Interiors by 28%, although this segment remains 4% below 2019 levels.
