Full Year 2022 Safran SA Earnings Call Transcript
Welcome to the Safran Full 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 am pleased to welcome you to Safran's '22 earnings call. I'm here with Pascal Bantegnie, our CFO.
Let's go straight to Page 4, with a summary of our talking points today. Air traffic recovery is continuing. We expect narrowbody air traffic to return to pre-crisis levels in the course of 2023, supported by the lift of travel restrictions in China.
We recorded solid sales growth and profitability. Free cash flow generation in 2022 was strong, exceeding our expectations. This performance was achieved in a challenging macro environment with supply chain constraints and inflationary pressure. We have also discontinued our activities in Russia further to the sanctions decided by the U.S., U.K. and European authorities. We are proposing to shareholders a
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