Safran SA

SAF: XPAR (FRA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€192.00	Vtnc	Ncdtrsjkh

Safran: Strong Set of Results, We Mantain Our Valuation Driven by Narrowbody Deliveries

Loredana Muharremi

Feb 20, 2024

Business Strategy and Outlook

Safran is a key player in global commercial and military aerospace propulsion and equipment. CFM, the 50/50 joint venture between Safran and GE Aviation, has about 70% of the narrow-body market, positioning Safran to take advantage of the aerospace industry recovery after the COVID-19 setback and the Russia-Ukraine war, which led to commodity price surges and supply chain disruptions.

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