Safran Q1 revenue up nearly 16%

Victoria
By Victoria April 27, 2012 22:54

Safran Q1 revenue up nearly 16%


Safran, which owns civil engine manufacturer CFM International, has posted a 15.9% increase in Q1 revenue bringing to total for the period to €3.1 billion ($4.1 billion). The growth was due to the strength of the jet engine aftermarket driven by the CFM56 and global CFMi spare parts revenue, which rose 24.2% for the quarter.

Safran says that this was largely in line with the trends of 2011, which were up 1.3% from the 2011 fourth quarter, and driven by second-generation engines. The estimated total number of shop visits in the first quarter for civil aircraft equipped with the CFM56 increased slightly to 586 from 581 in the year-ago quarter.

OEM CFM56 engine deliveries were up by 56 units to 378 units compared to the same period last year. The total CFM56 and LEAP orders and commitments reached 695 engines as of April 19, the backlog staying at about seven years of production.

Overall, first-quarter revenue for the propulsion division was up 11.4% to nearly €1.6 billion compared to the same period in 2011 (3.5% on an organic basis).

The aircraft equipment activity reported a 21.1% (17.1% organic) first-quarter revenue increase of €883 million compared to the same period in 2011.

Together, the propulsion and equipment activities generated double-digit growth. However, because of “the variability in airline behavior inherent to a troubled economic context,” Safran’s full year civil aftermarket guidance remains unchanged at high single-digit growth.

Victoria
By Victoria April 27, 2012 22:54
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