Safran makes ‘strong start’ to 2019

Darren Wood
By Darren Wood April 29, 2019 14:18

Safran makes ‘strong start’ to 2019

Safran has achieved revenue of $6.4 billion, representing an increase of 36.9%, in its first quarter 2019 results, compared to the same period last year.

The French-based aero engine maker posted revenue in Q1 2019 of €5.8 million, compared with €4.2 million experienced in the corresponding quarter in 2018.

The firm has said it has stayed on course for its goals for the year despite the grounding of the Boeing 737 MAX.

Safran also said its CFM International joint venture with General Electric continues to deliver LEAP engines to Boeing as it catches up on earlier engine production delays, but would adapt its output as necessary.

Commenting on the results, CEO Philippe Petitcolin said: “Safran started 2019 very strongly with a 12.6% organic growth in Q1 well balanced between all businesses. We stand behind our customers and follow very closely the announcements regarding the 737 MAX in order to adapt if necessary.”

Darren Wood
By Darren Wood April 29, 2019 14:18