Civil sector helps lift Safran first half

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Safran Group's aerospace propulsion division increased revenues by more than 15% over the first half, to nearly €3.8 billion ($5 billion), largely driven by demand for civil engines and spares.

Operating income for the sector rose by 23% to €634 million, reflecting - among other factors - "favourable trends" in the civil aftermarket, says Safran.

Civil aftermarket growth of 17% was driven by first overhauls of recent CFM International CFM56 and General Electric GE90 engines.

Safran's aircraft equipment segment recorded a 9.7% lift in revenues, to nearly €2 billion, which the company attributes mainly to the landing-gear business and higher deliveries for the Airbus A330, A320 and Boeing 787.

First-half operating income for the division was up 29% to €175 million.

Its nacelle activity turned in a "slight" revenue increase, it says, with greater deliveries for the A320 being "partly mitigated" by lower A380 nacelle deliveries.

Service revenues in the segment rose by more than 13%, underpinned by civil aftermarket income, particularly in carbon brakes.

Safran benefited from new CFM orders for 468 Leap and 192 CFM56 engines during the Paris air show in June, taking the Leap backlog to around 5,200 engine orders and commitments.