Safran reports 10.5% revenue growth in first-quarter 2011

Safran reported its revenue for the first quarter of 2011. First-quarter 2011 adjusted revenue was Euro 2,681 million, up 10.5% year-on-year, or 7.1% on an organic basis. 2-digit revenue growth contribution from Equipment (Nacelles) and Defence (Optronics). Civil aftermarket was up 12.3% within the 10-15% guidance, with significant strength in widebody engines services and a lagging recovery in narrowbody. The Aerospace Propulsion services grew by 17% with share of revenue up from 48.2% to 51.8%. Services in Aircraft Equipment grew by 8% but share in revenue decreased from 34.4% to 32.3% of revenue as a result of stronger growth in Original Equipment.