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4-Traders Homepage  >  Equities  >  Euronext Paris  >  Safran    SAF   FR0000073272

SAFRAN (SAF)

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Safran : GECAS places $2.9 billion order for CFM LEAP-1A engines

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06/19/2017 | 12:35pm CEST

LE BOURGET, France - 19 June 2017 - GE Capital Aviation Services (GECAS), the aviation leasing and financing arm of GE (NYSE: GE), today announced a firm order for 200 CFM International LEAP-1A engines to power new Airbus A320neo family aircraft.

CFM values the agreement at more than $2.9 billion U.S. at list price. The airplane order was announced earlier today.

'The LEAP-1A has done extremely well in commercial service and our customers are very pleased with the engine,' said Alec Burger, President and CEO of GECAS, 'The LEAP-1A-powered A320neo family with proven increased fuel efficiencies, high utilization rates, and longer range will continue to be one of our core assets in our lease portfolio.'

'We are very pleased to further strengthen our relationship with GECAS,' said Gaël Méheust president and CEO of CFM International. 'We appreciate their confidence in the LEAP product line and look forwarding to delivering an exemplary product to them.'

The LEAP-1A engine entered commercial service in August 2016 and is providing its 14 operators with a 15 percent improvement in fuel efficiency, with an equivalent reduction in CO2 emissions; and lower noise and NOx emissions. To date, the fleet in service has logged more than 77,000 engine flight cycles and more than 145,000 engine flight hours while maintaining CFM's industry-leading reliability.

Safran SA published this content on 19 June 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 19 June 2017 10:35:10 UTC.

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Financials (€)
Sales 2017 16 590 M
EBIT 2017 2 387 M
Net income 2017 1 668 M
Finance 2017 659 M
Yield 2017 1,94%
P/E ratio 2017 19,56
P/E ratio 2018 18,35
EV / Sales 2017 2,01x
EV / Sales 2018 1,87x
Capitalization 33 934 M
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Mean consensus HOLD
Number of Analysts 21
Average target price 75,5 €
Spread / Average Target -7,3%
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Managers
NameTitle
Philippe Petitcolin Chief Executive Officer & Director
Bernard-Pierre Jacques Delpit Chief Financial Officer
Jean-Marc Forneri Independent Director
Patrick Gandil Director
Xavier Lagarde Director
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