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Safran Q3 Adj. Revenue Climbs; Lifts FY22 Revenue View; Reappoints Chairman, CEO

French Aerospace company Safran (SAF.PA,0IU8.L,SAFRF.PK) reported Friday that its third-quarter consolidated revenue was 5.05 billion euros.

Adjusted revenue for the quarter climbed 30 percent to 4.85 billion euros from 3.73 billion euros a year ago with strong growth in all segments. Revenue grew 11.9 percent at constant currency basis and 17.9 percent organically.

Looking ahead, Safran raised its fiscal 2022 revenue outlook to reflect solid growth in services and new currency assumptions.

Revenue is now expected to be around 19.0 billion euros, compared to previously expected 18.2 billion euros to 18.4 billion euros.

Safran's recurring operating margin is expected to be around 12.6 percent.

Further, at its meeting on October 27, the Board of Directors took the decision to re-appoint Chairman, Ross McInnes, and the Chief Executive Officer, Olivier Andriès, whose terms of office as Directors will expire at the close of the 2023 Annual General Meeting.

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