This news release was originally published on Safran's website.

Paris, July 28, 2021

  • H1 2021 earnings still affected by the effects of the crisis, bottoming out in Q1
  • FY 2021 outlook confirmed implying a meaningful H2 ramp-up. Free cash flow target raised

 

Adjusted data

  • Revenue at Euro 6,876 million, down (21.6)% on a reported basis and down (17.3)% on an organic basis
  • Recurring operating income at Euro 659 million down (30.4)% on a reported basis and down (29.3)% on an organic basis
  • Operating margin impacted across all divisions. Group operating margin down in H1 2021 at 9.6% but improved versus H2 2020
  • Free cash flow generation at Euro 701 million

 

Consolidated data

  • Revenue was Euro 6,769 million
  • Recurring operating income at Euro 351 million
  • Profit from operations at Euro 156 million
  • Profit for the period attributable to owners of the parent at Euro 674 million
  • Free cash flow at Euro 701 million

 

Executive commentary

CEO Olivier Andriès commented:

Safran’s results for the first half of 2021 remain affected by the effects of the crisis and an unfavorable basis of comparison in Q1. They also show a start of the recovery in the second quarter. As anticipated, the second half of the year will be essential to see if the effects of the anticipated strong recovery in air traffic in