PARIS (dpa-AFX) - Safran S.A. (SAFRF.PK), a French maker of aircraft engines and related equipment, reported a surge in its adjusted earnings for the half year, with revenues registering a double-digit growth year-on-year, reflecting strong performance across all its division, driven by civil engines aftermarket.
For the first half, the Group's adjusted net earnings, Group share, surged to 1.04 billion euros from 536 million euros, and earnings per share rose to 2.40 euros from 1.22 euros last year.
Adjusted recurring operating income grew over 33 percent to 1.397 billion euros, while it grew 27.3 percent organically.
For the half year, Safran's revenue rose nearly 28 percent to 10.945 billion euros, and was up 25.9 percent on an organic basis. The company's results were reported on an adjusted basis.
Also, Safran said it has launched a share repurchase program for the purpose of subsequent share cancellation. This program of up to 1 billion euros is due to be completed by end of 2025.
Looking ahead to the full year 2023, Safran raised its adjusted outlook, now expecting recurring operating income of c.3.1 billion euros. The Group still sees revenues for the next year of at least 23.0 billion.
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