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SAF Safran SA

-0.84 (-0.57%)
22 Sep 2023 - Closed
Delayed by 15 minutes

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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
  -0.84 -0.57% 147.20 147.02 147.44 148.26 145.34 147.02 428,891 16:40:00

Safran Swings to 1st Half Net Loss But Raises 2022 Revenue Guidance

28/07/2022 6:41am

Dow Jones News

Safran (EU:SAF)
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From Sep 2021 to Sep 2023

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By Ian Walker


Safran SA on Thursday reported a swing to net loss for the first half of the year after booking foreign exchange losses, but raised its full-year revenue guidance to reflect significant customer advance payments.

The French aerospace-industry supplier made a net loss for the period of 3.76 billion euros ($3.83 billion) compared with a profit of EUR674 million for the comparable period, while revenue rose to EUR8.68 billion, from EUR6.77 billion. It booked a foreign exchange loss of EUR5.83 billion in the period.

Recurring operating income, one of the company's preferred metrics, rose 59% to EUR1.05 billion.

Adjusted revenue rose to EUR8.56 billion from EUR6.88 billion. Adjusted revenue consensus was EUR8.39 billion, taken from FactSet and based on five analysts' forecasts.

Safran said that it now expects to report adjusted revenue of between EUR18.2 billion and EUR18.4 billion for the year, up from previous guidance of EUR18 billion-EUR18.2 billion.

"Safran posted solid results in the first half of the year amid improvement in air traffic in all regions of the world except China," Chief Executive Olivier Andries said.

"We feel confident in achieving our full year guidance and beyond."


Write to Ian Walker at ian.walker@wsj.com


(END) Dow Jones Newswires

July 28, 2022 01:26 ET (05:26 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

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