Safran: turnover higher than expected
Performance supported by increased demand for travel and motor sales
The French Group Safran, specialized in the production of engines and equipment in the aviation sector, has communicated the economic data for the first quarter of 2023. The first three months of the year ended with a sales volume of 5.26 billion euros, in increase of +29.4%. These are results that the company defines as "exceeding expectations". A performance supported by the rapid recovery in travel demand, but there are problems.
"The pandemic crisis in air transport demand is now really behind us". However, "steel is a source of tensions" and supply chain problems in the aviation sector that could continue into 2024, explained Safran Chief Executive Olivier Andries.
Going back to the quarterly accounts: revenues amount to 5.266 billion euros (+24.7% over the same period in 2022). An increase driven in particular by the sale of spare parts for civil aircraft engines (+38.1%), thanks to the +53% on deliveries of Leap engines (B-737 Max and A-320), and by currency effects (+4 .9%) linked to a sector which is very sensitive to exchanges based on the US dollar.
AVIONEWS - World Aeronautical Press Agency