Safran: raises outlook for 2019
(CercleFinance.com) - Safran has raised its outlook for 2019, now targeting adjusted sales growth of around 15% (vs.
7%-9% previously), with over 20% growth in adjusted underlying operating income (vs. 10% to 12% growth previously).
In H1 2019, the group's net income, group share rose by 45.2% to 1,353 million euros, while its underlying operating income increased 35.9% to 1,883 million euros, meaning a margin of 15%, against 14.6% in the same period last year.
The high-tech group's sales came in at 12,102 million euros, up 27.3% (+18.5% like-for-like). On an organic basis, sales increased by 14.2%, driven by growth in all operating activities.
Alongside the publication of its interim results, Safran says that its Board of Directors has begun the process of selecting a Chief Executive Officer to succeed Philippe Petitcolin, whose term of office has been extended until 31 December 2020.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
7%-9% previously), with over 20% growth in adjusted underlying operating income (vs. 10% to 12% growth previously).
In H1 2019, the group's net income, group share rose by 45.2% to 1,353 million euros, while its underlying operating income increased 35.9% to 1,883 million euros, meaning a margin of 15%, against 14.6% in the same period last year.
The high-tech group's sales came in at 12,102 million euros, up 27.3% (+18.5% like-for-like). On an organic basis, sales increased by 14.2%, driven by growth in all operating activities.
Alongside the publication of its interim results, Safran says that its Board of Directors has begun the process of selecting a Chief Executive Officer to succeed Philippe Petitcolin, whose term of office has been extended until 31 December 2020.
Copyright (c) 2019 CercleFinance.com. All rights reserved.