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北京时间·🕒 发布 13:03:46时区推断·⟳ 抓取 13:10:35·⚡ 决策 07-28 13:11:25 +50s·91.2 天前
赛峰上半年利润超预期并上调全年营收、利润和LEAP交付目标
赛峰上半年经常性经营利润同比增长29%至32.4亿欧元，高于市场预期30.6亿欧元，并将全年经营利润目标从61亿-62亿欧元上调至64亿-65亿欧元。
📄 原文Reuters↗ 原文
French jet engine maker Safran (SAF.PA) joined its partner GE Aerospace in raising financial targets after posting stro…
不做 GE Aerospace（GE.US）
赛峰财报对GE.US只是CFM景气的间接确认，GE已在上周上调2026年收入和利润预期，本条新增edge不足，不追确认性利好。
不做 赛峰（SAF.FR）
直接受益标的是巴黎上市赛峰，当前缺少可执行的同向本地交易腿；不为了间接映射硬做。
展开详情(成交明细 / 研究档案 / 原文全文 / 决策记录链)
研究档案
🔎 新鲜度:最早出现 2026-07-28 · 扩散 medium · price-in 风险 medium ↗
关键理由
- 赛峰上半年经常性经营利润同比增长29%至32.4亿欧元，高于市场预期30.6亿欧元，并将全年经营利润目标从61亿-62亿欧元上调至64亿-65亿欧元。
- 民用发动机备件销售以美元计增长27.9%，说明航空发动机售后服务需求仍强，但这主要直接作用于赛峰本地股，亚洲可交易映射链条不清晰。
- GE Aerospace已在上周上调2026年收入和利润预期，本条对GE.US更多是同业确认而非新增首发催化。
主要风险
- 这是财报与指引上修事件，核心交易标的是巴黎上市赛峰，当前任务环境下缺少可执行本地交易腿。
- 对GE.US的增量信息已被其上周自身上调指引提前释放，追多容易变成确认性交易。
原文全文
展开原文 · 1,829 字
French jet engine maker Safran (SAF.PA) joined its partner GE Aerospace in raising financial targets after posting stronger-than-expected first-half profits on Tuesday.
The French company, which is one of the world's largest aerospace equipment suppliers as well as co-owning the CFM engine joint venture with GE (GE.N), said strong demand for spare parts contributed to a record first-half operating margin of 18.4%.
CFM, the world's largest jet engine maker by the number of units sold, is reaping maintenance profits from its CFM56 jet engines, which continue to power thousands of planes despite being succeeded by the more recent LEAP for current narrow-body deliveries.
Safran said its mid-year recurring operating profit jumped 29% to €3.24 billion ($3.68 billion), while revenue rose 19% to €17.57 billion. Widely watched sales of spare parts for civil engines rose 27.9% in dollar terms.
Analysts were on average expecting recurring operating profit of €3.06 billion on revenue of €17.47 billion.
Safran's core Propulsion division, which brings in just over half the company's sales, posted a 28% earnings rise to €2.25 billion, while Equipment & Defense rose 29% to €907 million.
Aircraft Interiors continued a gradual turnaround with a profit of €54 million, up from €27 million.
Safran raised its percentage target for full-year revenue growth to the "mid-teens" from a previous "low-to-mid-teens".
Safran also predicted full-year operating profit of €6.4 billion to €6.5 billion, up from a previous goal of €6.1 billion to €6.2 billion, and raised its forecast for growth in LEAP engine deliveries to "high teens" from a previous target of 15%.
GE Aerospace last week raised its 2026 revenue and profit forecasts, driven by demand for engine services and equipment.
($1 = 0.8797 euros)
The French company, which is one of the world's largest aerospace equipment suppliers as well as co-owning the CFM engine joint venture with GE (GE.N), said strong demand for spare parts contributed to a record first-half operating margin of 18.4%.
CFM, the world's largest jet engine maker by the number of units sold, is reaping maintenance profits from its CFM56 jet engines, which continue to power thousands of planes despite being succeeded by the more recent LEAP for current narrow-body deliveries.
Safran said its mid-year recurring operating profit jumped 29% to €3.24 billion ($3.68 billion), while revenue rose 19% to €17.57 billion. Widely watched sales of spare parts for civil engines rose 27.9% in dollar terms.
Analysts were on average expecting recurring operating profit of €3.06 billion on revenue of €17.47 billion.
Safran's core Propulsion division, which brings in just over half the company's sales, posted a 28% earnings rise to €2.25 billion, while Equipment & Defense rose 29% to €907 million.
Aircraft Interiors continued a gradual turnaround with a profit of €54 million, up from €27 million.
Safran raised its percentage target for full-year revenue growth to the "mid-teens" from a previous "low-to-mid-teens".
Safran also predicted full-year operating profit of €6.4 billion to €6.5 billion, up from a previous goal of €6.1 billion to €6.2 billion, and raised its forecast for growth in LEAP engine deliveries to "high teens" from a previous target of 15%.
GE Aerospace last week raised its 2026 revenue and profit forecasts, driven by demand for engine services and equipment.
($1 = 0.8797 euros)
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