Paris, December 13, 2017.
Tests of the engine ended during the third quarter 2017 led Safran (Euronext Paris: SAF) to inform its client Dassault Aviation and the market of a delay of the Silvercrest engine's certification schedule that would enable achieving the performances requirement in the full flight domain.
Dassault Aviation notified Safran Aircraft Engine on December 13, 2017 that Dassault Aviation does not share Safran Aircraft Engine's view of the status of the programme. This may lead to termination of the contract pursuant to its terms.
As Safran has previously indicated, contractual penalties applicable to the engine development phase have already been provisioned in its accounts. Safran confirms its 2017 annual guidance.
Safran will update the market of the actions that will be taken, as required.
Safran is an international high-technology group and tier-1 supplier of systems and equipment in the Aerospace and Defense markets. Operating worldwide, Safran has nearly 58,000 employees and generated sales of 15.8 billion euros in 2016. Working alone or in partnership, Safran holds world or European leadership positions in its core markets. Safran undertakes Research & Development programs to meet fast-changing market requirements, with total R&D expenditures of 1.7 billion euros in 2016. Safran is listed on the Euronext Paris stock exchange, and its share is part of the CAC 40 and Euro Stoxx 50 indices.
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