Completion of the sale of Safran’s detection activities
Paris, April 7, 2017
Safran (Euronext Paris: SAF) announces the completion of the sale of Morpho Detection LLC, a US-based subsidiary of Safran, and other detection-related activities to Smiths Group plc. As announced on April 21, 2016, Safran will record a pre-tax capital gain in its first half 2017 accounts.
The detection activities had been classified as “discontinued” in Safran’s 2016 accounts and contributed to earnings from discontinued operations.
Safran’s financial outlook, issued upon publication of 2016 annual results on February 24, 2017, refers to “continuing operations” and is unaffected by this change in scope.
Safran is a leading international high-technology group with three core businesses: Aerospace, Defence and Security (ongoing divestiture of Security business). Operating worldwide, the Group has 66,500 employees (Security included) and generated sales of 15.8 billion euros in 2016 (excluding Security). Working independently or in partnership, Safran holds world or European leadership positions in its core markets. The Group invests heavily in Research & Development to meet the requirements of changing markets, including expenditures of 1.7 billion euros in 2016 (excluding Security expenditures). Safran is listed on Euronext Paris and is part of the CAC40 index, as well as the Euro Stoxx 50 European index.