A real feat!
While all the aeronautics giants - Airbus and Boeing in the lead - suffered heavy losses in 2020, Safran has managed to keep its accounts in the green.
This at the cost of a severe austerity cure.
The performance of the French engine manufacturer, also present in aeronautical equipment and defense, is not less.
Especially since the Covid-19 pandemic has been cumulative with the Boeing 737 Max crisis, for which Safran is, with its American partner GE, the sole supplier of the engines.
Under these circumstances, the 2020 results are
"as good as possible"
, remarks soberly Olivier Andriès, CEO of Safran since January 1, 2021.
Read also:
Aeronautics: how the French company Safran has changed in five years
The group even exceeded a profitability target which seemed too ambitious: to generate an operating margin above 10%, to 10.2% precisely.
A level never reached by its customer Airbus, even in good years.
Safran achieved a net profit of 352 million euros although its sales
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