(BFM Stock Exchange) – The aeronautical equipment supplier generated almost 14% growth in data comparable to the first quarter, more than expected by analysts, and confirmed its prospects for 2025. The action increases, which can also benefit, like Airbus, from the potential exclusion of airwater engines of customs duties applied by China to American imports.

Safran remains a quality value and one of the best students in the Paris Stock Exchange. As we have written in a recent article, the aeronautical engine manufacturer and equipment manufacturer signs the best performance of the CAC 40 over three years and the third largest over 10 years, only preceded by luxury groups Hermès and LVMH.

This enviable stock market required a solid execution and convincing financial results. Safran has been forged, for many years, a rigorous corporate reputation on the operational.

The turnover of the first quarter, published this Friday, April 25, is no exception to the rule. Oddo BHF evokes “a robust start to the year from Safran”.

The company generated adjusted data revenues of 7.26 billion euros, up 16.7% in published data, and 13.9% excluding exchange effects and perimeters.

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Crushed objectives

According to a consensus quoted by Jefferies, Safran’s revenues have beaten analysts’ expectations by 3%. The bank notes that growth has been brought by the “propulsion” division, where income has exceeded consensus by 5%, and more particularly by sales of spare parts.

This activity has seen its turnover, expressed in dollar, jump by 25.1% over a year, thanks in particular to CFM56 engines, the best -selling engine in the world. This engine equips more than half of the single -offs in the world. About 23,000 CFM56 engines were in services in 2024, of which almost 70% had carried out none or only one workshop visit.

This installed base guarantees a huge growth reservoir for very remunerative Safran’s post-sales services, which include sales of spare parts.

At the end of this publication, Safran confirmed its prospects for 2025, namely growth in its income of around 10%, a current operating profit located between 4.8 billion and 4.9 billion euros and a cash flow ranging from 3 billion to 3.2 billion euros.

Safran has revised on the rise, not an objective, however, but its hypothesis of growth in spare parts for the whole of 2025. Which, according to Oddo BHF, brings “an additional security mattress” to the achievement of the targets of the company.

China creates exceptions

Olivier Andriès, the Director General of Safran, also told analysts that the company was confident about its ability to reach the top of its forecasting ranges.

However, these 2025 objectives agree without the potential impact of the trade war. On this point, “Safran is actively working to mitigate the economic impact of customs duties, in particular by adapting its logistics flows and engaging in dialogue with its customers,” said Olivier Andriès.

The leader explained that it was currently impossible to quantify the impact of these customs duties.

“The lack of granularity on the consequences of customs tariffs could interfere with certain investors, even if we think that Safran has sufficient prices to fix the early pressure pressures”, judge Oddo BHF.

This heavy file of customs duties is constantly evolving. On Friday, several media reported that the Chinese government was planning to get several products out of customs surcharge of 125% applied to American imports. This could include aircraft engines.

“Last night, China decided to exempt customs duties all deliveries of engines, nacelles, landing trains or equipment to China,” said Olivier Andriès to analysts. “So you see that the elements change every week or even sometimes every day, which is why we prefer not to communicate on the quantification of an impact, because it is based on constantly changing hypotheses,” he added.

This information about China can contribute to the rise in Safran action, the progressing title of 4.4% in the early afternoon, the second highest increase in CAC 40. “This can play as it is a sign of de-escalation”, judges an analyst who notes, however, that China imports from France to Safran engines.

“It’s a good thing for Airbus can assemble its planes in China without problem” by important therefore American parts, “he continues.

Airbus takes 2.4% on the peer stock market, recording one of the strongest increases in the CAC 40. The European aircraft manufacturer has in particular a final assembly line in China, in Tianjin, inaugurated in 2008. It produces single -offs of the A320 NEO family from Airbus.