Tier 1 supplier in Aerospace, Defence Security Cash Flow €740M ... for wheels and brakes systems...

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Transcript of Tier 1 supplier in Aerospace, Defence Security Cash Flow €740M ... for wheels and brakes systems...

  • Ce document et les informations quil contient sont la proprit de Safran. Ils ne doivent pas tre copis ni communiqus un tiers sans lautorisation pralable et crite de Safran.

    0 / INVESTOR ROADSHOWS / MARCH 2015 / Q3 REVENUE 2011 / OCTOBER 21, 2011 /

    / March 2015 /

    Tier 1 supplier in

    Aerospace, Defence & Security

    Investor roadshows

  • 1 /

    Ce document et les informations quil contient sont la proprit de Safran. Ils ne doivent pas tre copis ni communiqus un tiers sans lautorisation pralable et crite de Safran.

    INVESTOR ROADSHOWS / MARCH 2015 /

    2014 revenue by activities

    Revenue 15,355M

    Recurring op. income 2,089M (13.6% of revenue)

    Net income - Group share 1,248M (3.00/share)

    Free Cash Flow 740M

    Net debt position (Dec. 31) 1,503M (23% gearing)

    29%

    8%

    53%

    10%

    Aircraft Equipment

    Defence Aerospace Propulsion

    Security

    Tier 1 supplier in Aerospace - Defence - Security

    FY 2014 (adjusted)

    15.4Bn

  • 2 /

    Ce document et les informations quil contient sont la proprit de Safran. Ils ne doivent pas tre copis ni communiqus un tiers sans lautorisation pralable et crite de Safran.

    INVESTOR ROADSHOWS / MARCH 2015 /

    Leading market positions

    #1 ww Single aisle engines

    Helicopter turbines

    Landing gear

    Aircraft wiring

    Power transmission

    #2 ww Space Propulsion

    Engine nacelles

    Wheels & brakes

    #4 ww

    Military engines

    Aerospace Security Defence

    #1 Europe Optronics

    #3 ww Inertial navigation systems

    #1 ww Biometric and ID solutions

    A leader in aviation markets Detection

    ~80% of revenue coming from civil activities

  • Ce document et les informations quil contient sont la proprit de Safran. Ils ne doivent pas tre copis ni communiqus un tiers sans lautorisation pralable et crite de Safran.

    3 / INVESTOR ROADSHOWS / MARCH 2015 /

    / 5 key themes / 2014 highlights & key events

    Summary of FY 2014 results announcement

    Positive trends in civil aftermarket

    Investing in our future

    Outlook: 2015 guidance

  • Ce document et les informations quil contient sont la proprit de Safran. Ils ne doivent pas tre copis ni communiqus un tiers sans lautorisation pralable et crite de Safran.

    4 / INVESTOR ROADSHOWS / MARCH 2015 /

    FY 2014 financial highlights

    Growing adjusted revenue driven by strong performance in Aerospace and Security

    FY 13* FY 14

    14,363 15,355 +6.9%

    Adjusted recurring operating income at 13.6% of revenue

    FY 14

    1,780 2,089

    +17.4%

    Higher adjusted net profit (group share) at 3.00 per share (2.87 in FY 13 including 0.31

    from the sale of Ingenico shares)

    FY 13* FY 14

    1,193 1,248 +4.6%

    (M) (M)

    (M)

    FY 13*

    Proposed 2014 dividend up 7.1%

    FY 13 FY 14

    1.12 1.20

    ()

    +7.1%

    Moderate net debt level (23% gearing)

    Dec. 31, 2013* Dec. 31, 2014

    (1,220) (1,503)

    (M)

    (283)M

    FCF was 35% of adjusted recurring operating income

    FY 13* FY 14

    699 740 +5.9%

    (M)

    * 2013 has been restated to reflect the changes induced by IFRS11

  • Ce document et les informations quil contient sont la proprit de Safran. Ils ne doivent pas tre copis ni communiqus un tiers sans lautorisation pralable et crite de Safran.

    5 / INVESTOR ROADSHOWS / MARCH 2015 /

    0

    1 000

    2 000

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    2010 2011 2012 2013 2014

    Self-funded R&D CAPEX (tangible + intangible)

    0

    1 000

    2 000

    3 000

    2010 2011 2012 2013 2014

    Adjusted recurring operating income* (published)

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    2010 2011 2012 2013 2014

    Free Cashflow

    Selected financial highlights 2010-2014

    *Unless otherwise noted, all data as published, under prevailing accounting standards

    x2.5 x2.4

    x2.4

    Sound business model generating growing profits and cash

    and sustaining strong investment

    0

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    400

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    2010 2011 2012 2013 2014

    Dividends

  • 6 /

    Ce document et les informations quil contient sont la proprit de Safran. Ils ne doivent pas tre copis ni communiqus un tiers sans lautorisation pralable et crite de Safran.

    INVESTOR ROADSHOWS / MARCH 2015 /

    Executing on key engine development programmes

    LEAP: 70%+ market share for future narrow bodies

    Close to 8,500 orders at end 2014

    LEAP on track for certification as planned

    LEAP-1A/-1C: successful first flights on flying test bed

    LEAP-1B: ground testing and preparing for in-flight testing

    Testing campaign progressing very well, as expected

    Preparing for production readiness

    World class supply chain

    LEAP ramp-up supported by CFM56 success

    Investments in facilities to bring new technology into production: new

    plants in Rochester and Commercy to produce 3D woven carbon fibre

    composite parts for the LEAP (JVs with Albany)

    LEAP engine takes to the skies

    on October 6, 2014

    Silvercrest

    Complete propulsion system for Dassault 5X

    Also selected for the Cessna Citation Longitude

    Flight tests commenced in May 2014: engine

    behaving well through whole flight envelope

  • 7 /

    Ce document et les informations quil contient sont la proprit de Safran. Ils ne doivent pas tre copis ni communiqus un tiers sans lautorisation pralable et crite de Safran.

    INVESTOR ROADSHOWS / MARCH 2015 /

    Helicopter turbines: delivering on new products roadmap

    Arrius 2R, Arriusl 2B2+ and Arriel 2N:

  • 8 /

    Ce document et les informations quil contient sont la proprit de Safran. Ils ne doivent pas tre copis ni communiqus un tiers sans lautorisation pralable et crite de Safran.

    INVESTOR ROADSHOWS / MARCH 2015 /

    Capturing opportunities in Aerospace

    Strongly positive momentum in civil aerospace

    New positions on major platforms

    Boeing 777X:

    Partner on GE9X with a workshare over 11%; responsible for composite fan blades, fan

    disc, rear turbine frame, forward fan case (3D-RTM), LP compressor

    Boeing also selected Safran (Aircelle) to supply nacelles exhaust systems on the 777X

    Airbus A330neo:

    Safran (Aircelle) selected by Airbus to supply the nacelle for the future A330neo powered

    by Trent 7000 engine

    Continuing commercial momentum including:

    Outstanding commercial success for the LEAP: more than 2,700 orders received

    in 2014

    Sustained demand for the CFM56: more than 1,500 orders received in 2014; total

    backlog of more than 4,500 engines

    Multiple long term contracts for wheels and brakes systems including 737NG, 787,

    A320neo, A320ceo

  • 9 /

    Ce document et les informations quil contient sont la proprit de Safran. Ils ne doivent pas tre copis ni communiqus un tiers sans lautorisation pralable et crite de Safran.

    INVESTOR ROADSHOWS / MARCH 2015 /

    Leveraging cutting edge technology in Defence

    Leading portfolio of optronics equipment meeting customers requirements

    French Navy awarded Safran to equip surface vessels with EOMS NG optronics sights

    New orders for 1,200 night & day multifunction goggles

    Contract to supply Matis SP thermal imagers for Simbad Remote Control surface-to-air launcher stations;

    delivery will start in Q1 2015

    Unique expertise in infrared seekers resulting in contract wins

    MBDA awarded Safran the development and production of infrared seekers for the future anti-tank

    Medium-Range Missile (MMP) for the French Army

    Signature of a contract with MBDA for the development and production of the infrared seekers of the

    Franco-British anti-surface guided weapon (FASGW)

    Bolstering our offering and market position in the US

    Successful integration in Avionics of the Integrated Cockpit Solutions business acquired from Eaton

    Aerospace, strengthening our presence in the US

    R&D effort to maintain technological differentiation

    Strong order intake: 1.3B in 2014, up 35% vs 2013

  • 10 /

    Ce document et les informations quil contient sont la proprit de Safran. Ils ne doivent pas tre copis ni communiqus un tiers sans lautorisation pralable et crite de Safran.

    INVESTOR ROADSHOWS / MARCH 2015 /

    Scoring commercial successes in Security

    MorphoTrust: maintained market leadership in the US

    80% of US driver licenses issued by MorphoTrust; #1 position maintained

    Prime contractor of Universal Enrolment Service (UES)

    Expansion of the TSA Pre application program* to new airports. 800,000 travellers enrolled since the program roll out 1 year ago

    Identification: unique ability to deliver large-scale operations services

    Successful public private partnership in Chile: over 4 million highly-secure passports and ID cards issued

    since September 2013

    Selected by Slovakia for its national e-ID card program and for its drivers license cards

    Exclusive, 10-year contract for Phase II of the Egyptian National ID project through local partner AOI.

    Phase I had already been awarded to Safran in 2012. A new state-of-the-art ID card will be among the most

    modern and secure in the world thanks to the introduction of a smartchip with several applic