The Wall Street Journal-20080116-Earnings Digest Brief -- Safran SA- Conglomerate Reports 5-9- Rise in Revenue
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Earnings Digest Brief -- Safran SA: Conglomerate Reports 5.9% Rise in Revenue
Roundup
French conglomerate Safran SA sought to allay concerns about its exposure to the weak U.S. dollar as it reported a 5.9% rise in 2007 revenue and lower debt. The aero engine-to-telephone handsets maker reported full-year revenue of 12 billion euros ($17.85 billion), up from 11.33 billion euros the previous year. Sales were boosted by a 17% rise in aerospace propulsion, which makes up almost half of group revenue. Safran, born of a merger between state engine maker Snecma and private telecommunications equipment firm Sagem in 2004, has been singled out as one of the companies in its sector most at risk from the dollar's steep decline against the euro. But Safran said that its "dollar exposure is now fully hedged for 2008" at exchange rates up to $1.46 to the euro.
