Half Year 2022 Safran SA Earnings Call Transcript
Welcome to the Safran Half Year 2022 results. At this time, I would like to turn the conference over to your host, Olivier Andries, Safran's CEO; and Pascal Bantegnie, Group CFO. Mr. Andries, please go ahead.
Good morning, everyone. I'm pleased to welcome you to Safran's first half 2022 earnings call. I'm here with Pascal Bantegnie, our CFO. Let us go straight to Page 4 with a summary of our talking points today.
Air traffic recovery has been gaining momentum in Q2. In fact, after a dip in March and a stall in Q1, narrowbody capacity as a percentage of 2019 has increased sequentially by 6 points in Q2 versus Q1. The business environment remains challenging, especially in terms of supply chain stress and inflation, as we pointed out earlier this year.
Organic revenue growth was good, profitability in H1 was solid and provides confidence to achieving full year target as well as for cash flow generation supported by customer advance payments. Portfolio management is progressing at a satisfactory
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