Safran reports revenue grew 10% in third quarter 2013

Safran released that third-quarter 2013 adjusted revenue was €3,437m, up 9.7% on a reported basis, up 10.9% on an organic basis, compared to third quarter 2012. Aerospace (Propulsion and Equipment)) activities continue to benefit from civil aftermarket growth and OE momentum. Revenue was slightly up in Defence activities and – due to adverse currency variations – in slight decline for the Security activities. Third-quarter 2013 civil aftermarket was up 45.2% in USD terms, comparing the robust level of revenue in the quarter to the dip in activity a year ago. The full-year 2013 adjusted revenue and adjusted EBIT outlook is confirmed. Regarding free cash flow, cash flow linked to business performance is likely to be consistent with objectives, while uncertainty remains concerning the rhythm of payments (including advance payments) by State-customers in the fourth-quarter.