Safran SA (OTCPK:SAFRF)

$ 236.942 2.658 (1.13%) Market Cap: 100.88 Bil Enterprise Value: 97.43 Bil PE Ratio: 55.59 PB Ratio: 8.33 GF Score: 85/100

Full Year 2023 Safran SA Earnings Call Transcript

Feb 15, 2024 / 08:15AM GMT

Release Date Price: $196.47 (+3.06%)

Transcript

Operator

Welcome to the Safran Full Year 2023 Results. At this time, I would like to turn the conference over to your host, Olivier Andries, Safran CEO; and Pascal Bantegnie, Group CFO; Mr. Andries, please go ahead.

Olivier Andries

Safran SA - CEO & Director

Good morning, everyone, and thank you for joining us for our full year 2023 earnings call. I know you are also busy with other announcements today. I'm here with Pascal.

Let's go straight to our key highlights on Page 3. In 2023, Safran benefited from its strategic positioning in growing markets and especially on commercial aviation. Narrowbody air traffic recovered 2019 levels from early 2023 and ended the year in excess of 108% of 2019 level. Regarding the widebody traffic, recovery is lower with ASK 10% below 2019 level at the end of 2023, but with expectation to fully recover by the end of this year. These good trends support OE ramp up and demand for services across all of our businesses.

We post today strong results meeting or exceeding our guidance. Our teams have demonstrated

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