CEO Philippe Petitcolin says the company is following very closely the announcements regarding the Boeing 737 MAX in order to adapt production rates if necessary.
Safran reported adjusted sales of €5.8bn for the first quarter of 2019, a 36.9% improvement on the same period the previous year. Adjusted sales grew 12.6% organically, thanks to strong momentum in Propulsion, Equipment and Defence activities.
Q1 2019 civil aftermarket increased 10.2% in USD terms, driven notably by spare parts sales for second-generation CFM56 engines.
The company notes that organic performance is trending above full-year guidance. The impacts of the Boeing 737 MAX situation are being closely monitored — CFM has maintained the production rate for the LEAP-1B at this point and will undertake temporary adjustments if necessary.
Combined deliveries of CFM engines (LEAP and CFM56) increased by 15.9% to 577 units in Q1 2019 from 498 units in Q1 2018.
424 LEAP engines were delivered in Q1 2019 compared with 186 units in the year-ago period.