PARIS (dpa-AFX) - Safran (SAF.PA, 0IU8.L, SAFRF.PK) reported that its adjusted revenue for the third-quarter 2018 was 5.348 billion euros, an increase of 45.4% on a reported basis, including a contribution of 1.200 billion euros from Zodiac Aerospace. On an organic basis, adjusted revenue grew 11.4%.
Safran confirmed outlook for 2018, excluding Zodiac Aerospace.
Compared to its estimated restated key metrics for the application of IFRS 15, Safran expects adjusted revenue to grow on an organic basis in the range 7% to 9%. At an estimated average spot rate of USD 1.21 to the Euro in 2018, adjusted revenue is expected to grow in the mid-single digits. Adjusted recurring operating income is expected to grow around 20% at a hedged rate of USD 1.18 to the Euro.
Regarding Zodiac Aerospace businesses (consolidated for 10 months in 2018), Safran expects a contribution in the range 3.6 billion euros to 4 billion euros (at an estimated average spot rate of USD 1.21 to the Euro in 2018) to its adjusted revenue; 260 million euros to 300 million euros (at a hedged rate of USD 1.18 to the Euro from 09/01/2018) to its adjusted recurring operating income.
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