Safran: adjusted income reached E2,665m in 2019

(CercleFinance.com) - Revenues amounted to 24,640 million euros in 2019, up 3,590 million euros (+17.
1%) compared to 2018.

Safran has posted underlying operating income of 3,820 million euros, up 26.4% compared to 2018. On an organic basis, underlying operating income increased by 24.6%. The group's underlying operating profit represented 15.5% of sales, compared to 14.4% in 2018.

Adjusted net income (group share) reached 2,665 million euros (basic EPS: 6.20 euros, diluted EPS: 6.13 euros), compared to adjusted net earnings (group share) of 1,981 million euros in 2018 (basic EPS: 4.60 euros, diluted EPS: 4.54 euros).

Based on an average spot euro-dollar parity of 1.13 dollar for 1 euro in 2020, Safran forecasts FY 2020 adjusted sales that are either flat or down by up to 5% relative to 2019 (similar performance in organic terms), with its adjusted underlying operating income expected to grow by approximately 5%, based on a hedged exchange rate of 1.16 dollar for 1 euro, while it expects higher free cash flow than in 2019.


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