Strong performance in its aircraft engines and systems divisions was key drivers of 16.6 percent revenue at French group Safran for the first half of 2015. On total revenues of €8.4 billion ($9.2 billion), it achieved record levels of profitability, with recurring operating income up by almost 23 percent compared with the first half of 2014 at 13.9 percent of overall revenues. The strengthening of the U.S. dollar was a significant contributor to the improved balance sheet.
Revenues in Safran’s engine business, which includes its 50 percent interest in the very successful CFM International partnership with GE Aviation, grew by 19.2 percent to €4.5 billion ($4.9 billion). According to the group’s new CEO Philippe Petitcolon, much of this growth was due to a 27.8 percent increase in aftermarket demand for engine overhauls. Meanwhile, as of June 30, the order book for CFM’s new Leap turbofans stood at over 9,580 engines.
In Safran’s aircraft equipment division, which makes products such as landing gear, brakes and wiring, first-half 2015 revenues grew by 13 percent to €2.4 billion ($2.6 billion). Aftermarket sales also increased strongly in this part of the group, rising by 16.9 percent.