Safran Sa · EURONEXT:SAF
Safran Sa — Safran Sa Ord — Q3 2024 Earnings Presentation
21 slides from Safran Sa's earnings presentation, Oct 25, 2024
Slide 1: Q3 and 9m 2024 revenue
V8 – 21/10 Q3 and 9m 2024 revenue October 25, 2024 Olivier ANDRIES Chief Executive Officer Pascal BANTEGNIE Chief Financial Officer
Slide 2: Disclaimer & foreword
Disclaimer & foreword FORWARD-LOOKING STATEMENTS This document contains forward-looking statements relating to Safran, which do not refer to historical facts but refer to expectations based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could
Slide 3: Key highlights
Key highlights Robust 9m performance 17.4% revenue growth Solid level of services across the board Civil aftermarket +26.2% (in $) Low narrowbody OE deliveries Supply chain bottlenecks in specific areas Portfolio management Acquisition of Preligens, a leader in AI Contemplated acqu
Slide 4: Q3 and 9m 2024 revenue
Q3 and 9m 2024 revenue Adjusted revenue(1) In €M In €M +14.0% 6,639 +17.4% 19,686 5,825 16,770 20000 18000 +13.8% +17.0% 16000 org. 14000 org. 12000 10000 8000 6000 4000 2000 0 Q3 2023 Q3 2024 9m 2023 9m 2024 (1) See slide 15 for bridge with consolidated figures 4 SAFRAN - Q3 & 9m 2024 Revenue / Oct
Slide 5: Business highlights
Business highlights Serbia 12 Rafale order PASEO Joint Fires on Hanwha’s Redback IFV(*) (*) Infantry Fighting Vehicle 400 LEAP-1B engines for VietJet Air’s 737MAX Safran / HAL to develop Aravalli engine in India Arrano 1A helicopter engine certified in China 5 SAFRAN - Q3 & 9m 2024 Revenue / October
Slide 6: Q3 2024 Revenue
; Q3 2024 °_— -~—« REVENUE S SAFRAN
Slide 7: FX: Estimated net exposure and hedge rates
FX Estimated net exposure(2) ($bn) 2024 hedge rate set at $ 1.12 12 13 13 13 13 (1-cent improvement from 2023) $54.0bn hedge book(1) as of September 2024 ($54.4bn as of June 2024) Spot rate €/$ Q3’23 Q3’24 Average spot rate 1.09 1.10 2024e 2025e 2026e 2027e 2028e €/$ 9m’23 9m’24 Average spot rat
Slide 8: Q3 2024 revenue
Q3 2024 revenue (In €M) Organic: +13.8% 14.0% Currency: (0.8)% €/$ spot rate: 1.10 in Q3’24 (1.09 in Q3’23) 802 6,627 (45) 57 6,639 5,825 Scope: +1.0% Disposal of Cargo and Catering activities in May 2023 (from Aircraft Interiors) Acquisition of Thales Aeronautical Electrical Organic Sys
Slide 9: Q3 2024 revenue per activity
Q3 2024 revenue per activity Organic growth drivers Aerospace Propulsion Adjusted data Organic Q3 2023 Q3 2024 Change Change Civil engines (In €M) 365 LEAP deliveries (down 24 units yoy; up 68 units sequentially) Aerospace Propulsion 3,083 3,339 8.3% 9.2% Civil aftermarket ($) +20.5%: LEAP R
Slide 10: Shares repurchase & new tax measures in France
Shares repurchase & new tax measures in France Execution of the €1 billion share repurchase plan for cancellation €250 million tranche completed in August (1.3 million shares) €500 million tranche underway (to be completed before December 11, 2024) All repurchased shares to be cancelled by y
Slide 11: FY 2024 Outlook
FY 2024 na OUTLOOK
Slide 12: FY 2024 outlook updated
FY 2024 outlook updated SAFRAN EXPECTS TO ACHIEVE FOR FY 2024(1) (€/$ spot rate of 1.10 and hedge rate of 1.12) February / April / July 2024 October 2024 Revenues ~ €27.4bn ~ €27.1bn Recurring operating income close to €4.0bn ~ €4.1bn around €3.0bn subject to schedule of around €3.0bn subject to sch
Slide 13: Safran Capital Markets Day
Safran Capital Markets Day Agenda Strategy Finance Focus on Civil Engines Focus on Equipment & Interiors Innovation and Sustainability 13 SAFRAN - Q3 & 9m 2024 Revenue / October 25, 2024 This document and the information therein are the property of Safran. They must not be copied or comm
Slide 14: Appendix
APPENDIX S SAFRAN
Slide 15: Q3 and 9m 2024 consolidated and adjusted revenue
Q3 and 9m 2024 consolidated and adjusted revenue Hedge accounting Business combinations Q3 2024 Consolidated Amortization of PPA impacts - other Adjusted revenue (In Euro million) revenue Re-measurement of Deferred hedging intangible assets - business revenue gain (loss) Sagem/Snecma combinations Re
Slide 16: Number of products delivered on major aerospace programs – Q3
Number of products delivered on major aerospace programs – Q3 Number of units delivered Q3’23 Q3’24 Units % Number of units delivered Q3’23 Q3’24 Units % LEAP engines 389 365 (24) (6)% A320neo landing gear sets 153 142 (11) (7)% CFM56 engines 14 13 (1) (7)% A320neo nacelles 126 159 33 26% High thrus
Slide 17: Number of products delivered on major aerospace programs – 9m
Number of products delivered on major aerospace programs – 9m Number of units delivered 9m 2023 9m 2024 Units % Number of units delivered 9m 2023 9m 2024 Units % LEAP engines 1,174 1,029 (145) (12)% A320neo landing gear sets 424 446 22 5% CFM56 engines 38 41 3 8% A320neo nacelles 401 456 55 14% High
Slide 18: OE / Services revenue split – Q3
OE / Services revenue split – Q3 REVENUE Q3 2023 Q3 2024 Adjusted data (in Euro million) OE Services OE Services Aerospace Propulsion 1,093 1,990 1,137 2,202 % of revenue 35.5% 64.5% 34.1% 65.9% Equipment & Defense 1,250 884 1,507 1,020 % of revenue 58.6% 41.4% 59.6% 40.4% (1) Aircraft Interiors 381
Slide 19: OE / Services revenue split – 9m
OE / Services revenue split – 9m REVENUE 9m 2023 9m 2024 Adjusted data (in Euro million) OE Services OE Services Aerospace Propulsion 3,478 5,282 3,568 6,232 % of revenue 39.7% 60.3% 36.4% 63.6% Equipment & Defense 3,676 2,558 4,659 3,038 % of revenue 59.0% 41.0% 60.5% 39.5% (1) Aircraft Interiors 1
Slide 20: Definitions
Definitions Civil aftermarket (expressed in $) This non-accounting indicator (non-audited) comprises spares and MRO (Maintenance, Repair & Overhaul) revenue for all civil aircraft engines for Safran Aircraft Engines and its subsidiaries and reflects the Group’s performance in civil aircraft engi
Slide 21: SAFRAN - Q3 & 9m 2024 Revenue / October 25, 2024
21 SAFRAN - Q3 & 9m 2024 Revenue / October 25, 2024 This document and the information therein are the property of Safran. They must not be copied or communicated to a third party without the prior written authorization of Safran