赛峰集团公布2025年第一季度收入

Core Viewpoint - Safran Group reported a strong performance in Q1 2025 with a 16.7% increase in adjusted revenue, reaching €7.257 billion, driven by growth in the civil aviation aftermarket [2][3] Group Performance - The consolidated revenue for Q1 2025 was €7.38 billion, reflecting a 16.7% increase compared to Q1 2024, with organic growth at 13.9% [2][3] - Positive impacts from business scope changes contributed €32 million, while currency fluctuations added €142 million, with an average EUR/USD exchange rate of 1.05 for Q1 2025 [3] Business Segment Performance - The propulsion segment saw a 16.4% organic revenue growth, primarily driven by a 25.1% increase in civil engine spare parts revenue [4] - Civil engine services revenue grew by 17.6%, supported by RPFH contracts for LEAP engines, with 319 LEAP engines delivered in Q1 2025 compared to 367 in Q1 2024 [4] - The equipment and defense segment experienced a 10.8% revenue increase, particularly in nacelles, landing gear systems, and avionics [4] Aircraft Interiors - The aircraft interiors segment achieved a robust 13.8% growth, surpassing Q1 2019 levels by 8%, with aftermarket services growing by 17.4% [5] - Original equipment sales increased by 11.5%, driven by a significant rise in business class seat deliveries [5] Full-Year Outlook - Safran Group maintains its full-year outlook for 2025, expecting approximately 10% revenue growth and recurring operating profit between €4.8 billion and €4.9 billion [6] - Free cash flow is projected to be between €3 billion and €3.2 billion, accounting for an estimated negative impact of €380 million to €400 million from the French large enterprise tax [6] Assumptions and Risks - The outlook is based on assumptions including a 15% to 20% increase in LEAP engine deliveries compared to 2024 [7] - Spare parts revenue is expected to grow in the low double digits, while service revenue is anticipated to grow in the mid double digits [8]