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Safran lowers sales target for 2024 despite expected profit increase

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French engine manufacturer Safran expects a slightly lower increase in sales for 2024, as deliveries of its Leap engine for medium-haul jets such as the Boeing 737 MAX and the Airbus A320neo could decline by around ten percent.

Sales are expected to reach around 27,1 billion euros, which is around 300 million euros below the previous forecast and analyst expectations. Last year, Safran generated 23,2 billion euros.

However, CEO Olivier Andriès raised expectations for operating profit. Adjusted operating profit is estimated at around 4,1 billion euros, which is above the previously forecast 4,0 billion euros. In the third quarter, sales rose by 14 percent to 6,6 billion euros, which was in line with analysts' expectations.

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