Safran Group reports strong profit growths in 1H2013

Safran Group revenue up 10% - financial highlights for six months ended 30-Jun-2013:

• Revenue: EUR7066 million, +10.2% year-on-year;
• • Aerospace propulsion: EUR3773 million, +15.5%;
  • Aircraft equipment: EUR1961 million, +9.7%;
• Operating profit: EUR824 million, +23%;
• Recurring operating profit: EUR847 million, +23%;
• • Aerospace propulsion: EUR634 million, +23%;
  • Aircraft equipment: EUR175 million, +29%;
• Net profit: EUR658 million, +59%;
• Total assets: EUR22,965 million;
• Cash and cash equivalents: EUR2193 million;
• Total liabilities: EUR16,968 million. [more - original PR]

Safran Group: "Full-year 2013 profit guidance is upgraded reflecting solid first-half performance, improved Euro/USD hedging and healthy civil aftermarket. It also takes into account the improvement in the basis of comparison induced by the restatement of 2012 (Amended IAS19). Safran now expects adjusted revenue to increase by a percentage in the mid-to-high single digits at an estimated average spot rate of USD 1.29 to the Euro and adjusted recurring operating income to increase by around 20% (previously mid-teens) at an improved hedged rate of USD 1.28 to the Euro (previously USD 1.29)." Source: Company statement, 26-Jul-2013.