PARIS: French aerospace and defense company Safran released details of its 2016 financial performance, revealing rises in revenue and earnings.
Sales grew 1.6% to EUR15.8 billion (USD 16.7 billion), and operating income rose 5.4% to EUR2.4 billion. This growth was primarily driven by the company’s Aircraft Equipment business, where revenues were up 4.1%.
Defense remained Safran’s smallest sector, with revenues down 2.2% to EUR1.2 billion. The segment’s operating profit increased by 27.8% to EUR69 million, which compares with an overall annual profit growth of 60%, as the entirety of Safran generated profit of EUR3.3 billion.
The geographical diversity of Safran’s business also increased slightly during 2016, with France accounting for 21% of sales, down from 24% in 2015.
