New Company Report for Safran
Wide-moat Safran reported impressive results for the third quarter as adjusted revenue was up 11.4% year over year organically (30.9% reported), fuelled by strong momentum in aerospace services (notably, the civil aftermarket was up 19.2% in U.S.-dollar terms, driven by CFM56 spares sales and fees for takeup and landing) and strong growth in defence (up 10% organically, mainly due to increasing military guidance systems). As expected, deliveries of CFM56 engines declined (243 in the third quarte...Safran designs, develops and manufactures high technology electronics through three businesses: Aerospace, Defense and Security. Aerospace includes Aerospace Propulsion (propulsion systems for commercial aircraft, military transport, training and combat aircraft, rocket engines, civil and military helicopters) and Aircraft Equipment (mechanical, hydromechanical and electromechanical equipment); Defense (optronic, avionic and electronic systems); and Security (biometric technologies for fingerprint, iris and face recognition, identity management products, access management and transaction security, including tomographic systems for detection of dangerous or illicit substances in baggage).
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