PARIS (dpa-AFX) - French Aerospace company Safran (SAF.PA, 0IU8.L, SAFRF.PK) reported Thursday that its fiscal 2020 consolidated profit attributable to owners of the parent was 352 million euros.
Adjusted net income - Group share was 844 million euros or 1.92 euros per share, compared to last year's 2.67 billion euros or 6.13 euros per share.
Consolidated recurring operating income was 1.39 billion euros. Adjusted recurring operating income fell 56 percent from last year to 1.69 billion euros.
Group operating margin was 10.2 percent, down from 15.5 percent in the year ago period.
Consolidated revenue was 16.63 billion euros.
Adjusted revenue fell 33 percent to 16.50 billion euros from 24.64 billion euros. Revenues were down 32.5 percent on an organic basis.
In the fourth-quarter sales decreased 32.5 percent on a reported basis and 30.1 percent organically to 4.35 billion euros.
Further, the company announced that a dividend payment of 0.43 euros per share will be proposed to the shareholders' vote at the Annual General Meeting on May 26, representing a 22 percent pay-out ratio
Looking ahead for fiscal 2021, Safran expects adjusted recurring operating margin to increase above 100 basis points, at least a 300 basis points improvement versus the prior year's second half.
Adjusted revenue is expected to decrease in the low single digits in organic terms.
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