Safran says it achieved record revenue, operating profit and free cash flow in 2024 — including a solid contribution from its now-profitable aircraft interiors segment. It has revised its 2025 guidance upwards.
The aerospace giant reported an operating income of €4.1 billion for the 12-month period, representing a significant 30.1% increase year-over-year. Adjusted revenue of €27.3 billion jumped 17.8% from 2023.
While Safran’s propulsion and equipment & defence units saw revenue increase 15% and 17.7%, respectively, for the year, the firm’s aircraft interiors business in 2024 saw a 25.2% increase in revenue — just 5% short of the revenue reported pre-covid in 2019 — and, importantly, a return to profitability.
This achievement reflects both recovery in the long-haul market and strong demand from airlines for cabin retrofits, Safran says, with cabin profitability “driven by the high level of services activities, notably for galleys and water and waste management activities, and the benefits of past restructurings” and the seats business seeing “a clear improvement in 2024” and indeed an operational breakeven thanks to both services and OE original equipment volumes.
The delivery of business class seats increased “sharply”, growing to 2,482 units in 2024 from 983 in 2023.
“Continuous efforts in industrialization and engineering processes are bearing fruit,” it says. “In addition, Safran Passenger Innovations made a positive contribution to the result, largely thanks to inflight entertainment (IFE) systems.”
Safran CEO Olivier Andriès in a statement thanked the firm’s teams, noting that despite ongoing supply chain challenges and residual inflationary pressures, Safran has once again had a remarkable year.
“The operating margin stood at 15.1% of sales, up 150 basis points, driven in particular by the dynamism of services activities in all divisions, by the constant focus on operational excellence and by the return to profitability of aircraft interiors,” he says.
“In order to continue our profitable growth, our priorities for 2025 are to meet the expectations of our customers, whether they are aircraft manufacturers or airlines, and to improve industrial performance, both in original equipment and in maintenance, repair and overhaul (MRO) activities.”
Safran expects total revenue to grow about 10% in 2025 and operating profit to reach €4.8 billion to €4.9 billion, after bolstering its guidance for the year.
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Featured image credited to Safran
