Safran has reported adjusted revenue in the first-quarter of 2018 was €4,222m, an increase of 12.0% on a reported basis. At constant scope (excluding the contribution from Zodiac Aerospace), adjusted revenue grew 2.3%, including €-295m negative currency impact.
Adjusted revenue increased 10.2% organically, thanks to positive momentum in Propulsion, Aircraft Equipment and Defense.
Civil aftermarket grew 16.4% in USD terms, driven by spare parts sales. Considering the strong seasonal increase in revenue recognition for service contracts, Safran confirms its annual assumption for civil aftermarket activities to grow in the high single digits in 2018.
Production and backlog of narrowbody aircraft engines
Combined shipments of CFM engines (LEAP and CFM56) continued to increase in Q1 2018: 498 units were delivered compared with 426 in the year-ago period.
Customer’s demand remains strong: 827 LEAP orders and commitments were taken in Q1 2018. The LEAP backlog amounted to 14,278 engines.
The combined backlog for the two engine programmes (CFM56 and LEAP) amounted to 15,090 engines at March 31, 2018.