Safran: very strong revenue growth for first-quarter 2016
26-Apr-2016 All revenue figures in this press release represent adjusted[1] revenue. Please refer to definitions contained in the Notes on page 7.
Key figures for the first quarter of 2016
First-quarter 2016 adjusted revenue was Euro 4,240 million, up 7.8% year-on-year.
Adjusted revenue growth was 6.7% on an organic basis. Organic revenue growth was driven by continued momentum in Aerospace and Security activities.
Civil aftermarket[2] grew 8.6% in USD terms, and continues to be driven by overhauls of recent CFM56 and GE90 engines.
Full-year 2016 outlook is confirmed:
Safran expects adjusted revenue to increase by a percentage in the low single digits and adjusted recurring operating income likely to increase by around 5% with a further increase in margin rate. Free cash flow should represent more than 40% of adjusted recurring operating income.