PARIS (dpa-AFX) - French aircraft equipment manufacturer Safran SA (SAFRF.PK) reported Friday higher adjusted revenues in its first quarter with double-digit growth in its three segments. The company also maintained its outlook and dividend plan.
In the quarter, revenue on a reported basis was 7.38 billion euros.
Adjusted revenue was 7.26 billion euros, up 16.7 percent from last year's 6.22 billion euros. Adjusted revenues at constant currency grew 2.3 percent, and the growth was 13.9 percent organically.
The company generated strong momentum in both civil aerospace and defense.
Propulsion adjusted revenues were 3.68 billion euros, up 19 percent year-over-year. Adjusted revenues in Equipment and Defense grew 13.9 percent to 2.78 billion euros, and Aircraft Interiors climbed 16.6 percent to 788 million euros.
Further, the company confirmed fiscal 2025 outlook, excluding any potential impact of tariffs
The company continues to project annual recurring operating income to be in the range of 4.8 billion euros to 4.9 billion euros, and revenue growth of around 10 percent.
CEO Olivier Andriès said, 'Actual performance and robust momentum in both the civil aerospace and defense sectors reinforce Safran's strong confidence in achieving its full-year guidance, excluding any potential impact of tariffs, which it would be premature to quantify at this stage.'
Safran still plans to propose a dividend payment of 2.90 euros per share for fiscal year 2024, 32 percent higher than the prior year, to the shareholders' vote at the Annual General Meeting on May 22.
The record date will be May 28 and payment date will be June 2.
Regarding the acquisition of Collins actuation and flight control activities, the company noted that on Thursday, the UK Competition and Markets Authority closed the consultation period on the contemplated acquisition and on the proposed divestment of Safran's North American electromechanical actuation business to Woodward.
The approval is still pending.
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