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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Safran    SAF   FR0000073272

SAFRAN

(SAF)
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Safran Expects Fewer Than 1,000 LEAP Engine Deliveries in 2020

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05/28/2020 | 12:23pm EDT

By Cristina Roca

 

Safran SA now expects CFM International, its joint venture with General Electric Co., to deliver less than 1,000 LEAP engines this year as the coronavirus hits new plane deliveries, the company said Thursday following its annual general meeting.

The French aerospace-and-defense company said its April revenue fell to half of what it was during the same period a year ago, with the effects of the coronavirus being felt more deeply than the previous month.

Free-cash-flow generation was positive over the first four months of the year, Safran said.

Safran, which was already facing headwinds from the shutdown of Boeing Co.'s 737 MAX plane before the coronavirus started to hit its business, said it has stepped up an adaptation plan. It is moving to furlough 35% of its employees and slashing its costs and investments for the year, the company said.

"The Group's aim is to significantly reduce its costs and to lower the breakeven point for its businesses," it said. "The Group's current baseline scenario is for a gradual recovery."

Safran shareholders approved all resolutions submitted to Thursday's annual meeting, including a decision not to pay a dividend for 2019.

 

Write to Cristina Roca at cristina.roca@dowjones.com; @_cristinaroca

 

Stocks mentioned in the article
ChangeLast1st jan.
AT HOME GROUP INC. -5.87% 5.61 Delayed Quote.8.36%
BOEING COMPANY (THE) -1.56% 175.65 Delayed Quote.-45.22%
GENERAL ELECTRIC COMPANY 0.15% 6.7 Delayed Quote.-40.05%
JUST GROUP PLC -1.18% 48.48 Delayed Quote.-37.90%
MAX CO., LTD. 3.16% 1535 End-of-day quote.-30.04%
SAFRAN 4.03% 92.5 Real-time Quote.-35.40%
THE NEW HOME COMPANY INC. 6.95% 3.54 Delayed Quote.-28.97%
WILL GROUP, INC. 2.10% 631 End-of-day quote.-49.60%
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Financials
Sales 2020 17 283 M 19 609 M 19 609 M
Net income 2020 999 M 1 133 M 1 133 M
Net Debt 2020 3 829 M 4 344 M 4 344 M
P/E ratio 2020 41,7x
Yield 2020 0,83%
Capitalization 39 283 M 44 645 M 44 569 M
EV / Sales 2019
EV / Sales 2020 2,49x
Nbr of Employees 91 610
Free-Float 75,1%
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Technical analysis trends SAFRAN
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TrendsBearishNeutralNeutral
Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 22
Average target price 93,05 €
Last Close Price 92,50 €
Spread / Highest target 56,8%
Spread / Average Target 0,59%
Spread / Lowest Target -42,8%
EPS Revisions
Managers
NameTitle
Philippe Petitcolin Chief Executive Officer & Director
Ross McInnes Chairman
Bernard-Pierre Jacques Delpit Chief Financial Officer
Stéphane Cueille Senior VP-Research, Technology & Innovation
Jean-Lou A. Chameau Independent Director
Sector and Competitors
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SAFRAN-35.40%42 723
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HEICO CORPORATION-16.92%11 338
MTU AERO ENGINES AG-39.87%9 155
AVIC AIRCRAFT CO., LTD.42.80%9 069
CHINA AVIC AVIONICS EQUIPMENT CO.,LTD.14.96%4 023