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SAF Safran SA

210.20
1.20 (0.57%)
25 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Safran SA EU:SAF Euronext Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  1.20 0.57% 210.20 209.70 212.00 212.40 207.50 208.10 511,185 02:00:55

Safran Backs 2021 View After 1Q Revenue Drop

30/04/2021 6:40am

Dow Jones News


Safran (EU:SAF)
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From Apr 2021 to Apr 2024

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   By Olivia Bugault 
 

Safran SA confirmed its guidance for the year Friday after posting a drop in revenue for its first quarter.

The French aerospace-and-defense company reported adjusted net revenue of 3.34 billion euros ($4.05 billion), down 38% from EUR5.38 billion a year earlier. Organically, adjusted revenue fell 35%, it said.

The company's aircraft interiors segment--the hardest hit by the coronavirus pandemic--suffered the biggest decline, with revenue down 52% organically. At its aerospace propulsion division, Safran's largest business by revenue, adjusted revenue fell 34% organically, it said.

"The weakness in 1Q sales reflects, beyond comparison basis, the traffic deterioration in January and February while March showed signs of improvement," Safran Chief Executive Olivier Andries said.

In the U.S. and China, air traffic has started to recover since March, the company said.

Safran confirmed its outlook for 2021, which includes an organic decrease in adjusted revenue in the low single digits.

 

Write to Olivia Bugault at olivia.bugault@wsj.com

 

(END) Dow Jones Newswires

April 30, 2021 01:25 ET (05:25 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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