Safran Sa · EURONEXT:SAF
Safran Sa — Safran Sa Ord — Q1 2025 Earnings Presentation
18 slides from Safran Sa's earnings presentation, Apr 25, 2025
Slide 1: Q1 2025 Revenue
Q1 2025 REVENUE April 25, 2025 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: Q1 2025: key highlights
Q1 2025: key highlights ▪ Solid momentum in both civil Aerospace and Defense ▪ +17% growth in revenue Adjusted revenue(1) In €M 12.6% ▪ Robust aftermarket across the board 7,257 ▪ Spare parts for civil aircraft engines +25.1% (in $) 6,220 +16.7% ▪ Services for civil aircraft engines +17.6% (in $) +1
Slide 4: Business highlights: robust civil, defense & space momentum
Business highlights: robust civil, defense & space momentum LEAP Commercial Success with MAG / ANA Arrius 2E to power Airbus H140 helicopters Successful first commercial flight of Ariane 6 with MTU Dallas as a new LEAP Premier MRO Shop Arriel 2W to power new Robinson R88 helicopters successful launc
Slide 5: Tariffs environment
Tariffs environment ▪ Safran is implementing mitigation mechanisms to reduce its gross exposure ▪ Modifying logistics flows ▪ Optimizing use of Free Trade Zone and Bonded Warehouse ▪ Applying for duty drawback when applicable ▪ Actively extending USMCA exemption when applicable ▪ Currently entering
Slide 6: Q1 2025 Revenue
Q1 2025 REVENUE S SAFRAN
Slide 7: FX: Estimated net exposure and hedge rates
FX Estimated net exposure(2) ($bn) ▪ 2025 hedge rate set at $1.12 14 14 14 14 12.4 ▪ $54.1bn hedge book(1) as of March 2025 ($54.7bn as of December 2024) Spot rate €/$ Q1’24 Q1’25 Average spot rate 1.09 1.05 2024 2025e 2026e 2027e 2028e 2029e March 31st rate 1.08 1.08 €/$ hedge rate target 1.12 1.12
Slide 8: Q1 2025 revenue
Q1 2025 revenue (In €M) + 16.7% ▪ Organic: +13.9% ▪ Services (+19.5%) 863 7,083 7,083 142 32 7,257 ▪ OE (+8.2%) 6,220 ▪ Currency: +2.3% ▪ Average €/$ spot rate: 1.05 in Q1’25 (1.09 in Q1’24) Organic + 13.9% ▪ Scope: +0.5% ▪ Acquisition of Preligens in September 2024 Q1 2024 Organic Q1 2025 Currency
Slide 9: Q1 2025 revenue per activity
Q1 2025 revenue per activity ▪ Propulsion ▪ LEAP deliveries: 319 engines (-13% YoY) with favorable customer mix more than offsetting volume impact ▪ Civil aircraft engines aftermarket ▪ Spares parts (+25.1% in $) driven by CFM56 and high-thrust engines Adjusted data Organic Q1 2024 Q1 2025 Change ▪
Slide 10: Share repurchase plan and debt management
Share repurchase plan and debt management ▪ 2028 OCEANEs’ early redemption ▪ Soft call on April 1, 2025 of the 2028 OCEANEs (€730M convertible bonds issued in 2021) ▪ 93.3% of the 2028 OCEANEs were converted into existing shares previously repurchased ▪ Remaining 6.7% 2028 OCEANEs were reimbursed at
Slide 11: FY 2025 Outlook
FY 2025 OUTLOOK S SAFRAN
Slide 12: FY 2025 outlook confirmed, excluding any impact of tariffs
FY 2025 outlook confirmed, excluding any impact of tariffs At current perimeter (excluding Collins), adjusted data, €/$ spot rate of 1.10 and hedge rate of 1.12 February 2025 April 2025 Revenues up around 10% up around 10% Recurring operating €4.8 – 4.9bn €4.8 – 4.9bn income €3.0 – 3.2bn €3.0 – 3.2b
Slide 13: Appendix
APPENDIX
Slide 14: Q1 2025 consolidated and adjusted revenue
Q1 2025 consolidated and adjusted revenue Q1 2025 Hedge accounting Business combinations Consolidated (In Euro million) Deferred hedging Adjusted revenue revenue Re-measurement of Amortization of intangible PPA impacts - other revenue assets - Sagem/Snecma business combinations gain (loss) Revenue 7
Slide 15: Number of products delivered on major aerospace programs
Number of products delivered on major aerospace programs YoY change YoY change Number of units delivered Q1'24 Q1'25 Number of units delivered Q1'24 Q1'25 Units % Units % LEAP engines 367 319 (48) (13)% A320 landing gear sets 167 171 4 2% CFM56 engines 12 12 - - A320neo nacelles 135 155 20 15% High
Slide 16: OE / Services revenue split
OE / Services revenue split REVENUE Q1 2024 Q1 2025 Adjusted data (in €M) OE Services OE Services Propulsion 1,198 1,899 1,303 2,381 % of revenue 38.7% 61.3% 35.4% 64.6% Equipment & Defense 1,470 974 1,661 1,122 % of revenue 60.1% 39.9% 59.7% 40.3% Aircraft Interiors (1) 417 259 477 311 % of revenue
Slide 17: Definitions
Definitions ▪ Spare parts (expressed in $) ▪ This non-accounting indicator (non-audited) comprises “Spare parts” revenue (in USD terms) for all civil aircraft engines (CFM56, LEAP, high-thrust engines) ▪ Services (expressed in $) ▪ This non-accounting indicator (non-audited) comprises “Services” rev
Slide 18: SAFRAN - Q1 2025 Revenue / April 25, 2025
18 SAFRAN - Q1 2025 Revenue / April 25, 2025 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