Safran reports a positive Q3 with €4,849 million in sales

Safran posted an increase of 29.9% in sales, closing at €4,849 million in the financial report for the third quarter of 2022. Revenue for Q3 was up by 29.9% reaching €4,849 million while organic revenue was up by 17.9% compared to Q3 2021. Safran’s revenue for the first nine months of 2022 was €13,409, about 26.4% higher than the revenue recorded for the same time last year. Safran reported consolidated revenue of €5,052 million for the third quarter and €13,727 million for the nine months from January – September 2022.

Safran CEO Olivier Andriès said: “Strong business momentum continues in a context of persistent supply chain disruption and rising inflation which we are managing with a sharper focus on pricing and continued efforts on operational performance. Q3 sales benefitted from a strong air traffic summer season, pre-buying of CFM56 spare parts as well as increased LEAP engine deliveries. On the back of the 9m performance, we raise our full-year outlook to reflect currency changes and confidence in our ability to deliver.”

Safran shipped about 364 engines during Q3 of 2022 with 347 LEAP and 17 CFM56 engines, about 108 units higher than in Q3 of 2021. LEAP deliveries increased sequentially by 54% from 226 units in Q2 2022 to 347 in Q3 2022 albeit still below airframers demand.

Safran reported a strong comeback in the Aircraft Interiors revenue with a 22.1% increase driven by a strong OE Cabin activity, especially toilets and galleys for A320 as well as services. Safran reported a positive contribution in IFE activities, both OE and services.

Safran entered exclusive negotiations with Thales to acquire its electrical systems activities incorporating a workforce of 600 people and revenue of €124 million in 2021.

Going forward, Safran expects to close the year-end result at a revenue of around €19.0 bn and free cash flow of above €2.4 bn.