Safran delivers strong performance in first-half 2016

For first-half 2016, Safran’s revenue was €8,936m, up 6.3%, compared to €8,403m in the same period a year ago. This €533m increase reflects growth in Aerospace (propulsion and equipment) and in Security. On an organic basis, Group revenue increased by 6.5%, or €547m. Organic revenue was determined by applying constant exchange rates and by excluding the effects of changes in scope of consolidation. Recurring operating margin reached 14.6% of revenue. For first-half 2016, Safran’s recurring operating income was €1,309m, up €138m, or 11.8%, compared to €1,171m in the first-half 2015. The improvement on an organic basis was €139m, as the impact of currency was negligible and that of changes in the scope of consolidation amounted to Euro (1) million. Adjusted net income was €862m compared with €1,164m in first-half 2015 which included a post-tax capital gain of €419m from the sale of Ingenico Group shares.