Safran SA (XPAR:SAF)

€ 212.5 0.2 (0.09%) Market Cap: 87.80 Bil Enterprise Value: 87.24 Bil PE Ratio: 26.33 PB Ratio: 7.59 GF Score: 82/100

Q1 2020 Safran SA Corporate Sales Call Transcript

Apr 29, 2020 / 04:45PM GMT

Release Date Price: €87.3 (+6.08%)

Transcript

Operator

Welcome to the Safran Q1 2020 Revenue Conference Call. At this time, I would like to turn the conference over to your host, Philippe Petitcolin, Safran CEO; and Bernard Delpit, Group CFO. Mr. Petitcolin, please go ahead.

Philippe Petitcolin

Safran SA - CEO & Director

Thank you very much. Good afternoon, everyone, and thank you for joining us to this Q1 2020 revenue conference. First, I hope that you and your family are in good health, and that you have not been hit by this virus, that's the most important thing. I will start the presentation with Q1 business highlights on Slide 5, a few words on the COVID-19 impact in Q1, and then I will elaborate on our actions in the second part.

Q1 sales ended at EUR 5.4 billion, 6.9% less than Q1 2019 and minus 8.8% in organic way. In January and February, operations were nearly unaffected by the COVID-19 crisis. Revenue growth was in line with our initial guidance with a 1.7% organic decrease year-on-year. As a reminder, the initial guidance was adjusted revenue to decrease in the range of 0 to 5%, similar

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