Safran targets higher 2026 profit as jet engine services prosper

Core Viewpoint - Safran forecasts increased revenue and earnings for 2026, driven by strong aftermarket demand for civil jet engines [1] Financial Performance - Safran projects recurring operating profit for 2026 to be between 6.1 billion to 6.2 billion euros ($7.2 billion to $7.4 billion), with an estimated revenue increase in the "low to mid teens," specifically 12% to 15% [1] - For 2025, Safran reported a 26% rise in recurring operating income to 5.2 billion euros, with a margin gain of 1.5 percentage points to 16.6% [1] - Adjusted revenue for 2025 rose 15% to 31.33 billion euros, and the company generated 3.92 billion euros in free cash flow [1] Market Demand - Services revenue for civil engines increased by 30% in U.S. dollar terms, attributed to rising demand for air travel and interest in older jets amid production delays [1] - Positive momentum in the defense sector is noted, partly due to new orders for the Rafale fighter jet, for which Safran manufactures engines [1] Long-term Projections - Safran has upgraded its financial targets for 2028, raising the forecast for recurring operating income to 7.0 billion to 7.5 billion euros, up from the previous estimate of 6.0 billion to 6.5 billion euros [1]