SAF Safran SA

By Joshua Kirby

Safran SA said Wednesday that revenue and earnings fell in the first half, but it expects a better second half, and confirmed its 2021 outlook for sales and profitability.

The French aerospace-and-defense company said adjusted recurring operating income came to 659 million euros ($778.8 million) in the period, down 30% on year. Adjusted revenue came to EUR6.88 billion, down 22% from the previous year.

Net profit for the period was EUR674 million, Safran said.

For the full year, Safran confirmed its guidance on sales and profitability, entailing acceleration in the second half. Targets include a small organic decrease in adjusted revenue in the full year and an increased recurring operating margin in the second half. The company now also expects free cash flow to be above the previous year's level, having previously guided for it to be at least equal.

Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby

(END) Dow Jones Newswires

July 28, 2021 13:11 ET (17:11 GMT)

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