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4-Traders Homepage  >  Equities  >  Euronext Paris  >  SAFRAN    SAF   FR0000073272

SAFRAN (SAF)

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SAFRAN : Cessna selects Snecma's new Silvercrest engine to power the Citation Longitude

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05/14/2012 | 02:02pm CET
14.05.2012
Cessna selects Snecma's new Silvercrest engine to power the Citation Longitude

PRESS RELEASE

Geneva, EBACE, May 14, 2012 - Cessna Aircraft Company, a Textron Inc. company, announced today that it has selected the new-generation Silvercrest engine from Snecma (Safran group) to power its new Citation Longitude business jet.

The Citation Longitude is a super mid-size business jet with a maximum cruise speed of 490 knots (907.4 km/h). It will have an intercontinental range of 4,000 nautical miles (7,408 km), the longest in the Cessna range, and is expected to enter service into 2017.

"We are thrilled to bring the Silvercrest engine to Cessna customers because of its best-in-class efficiency, reliability and quality," said Scott Ernest, Cessna president and CEO. "This engine is expected to take the Cessna Longitude to a new level and to give our customers the range, efficiency and noise-reduction they need to be successful in today's competitive environment."

The Silvercrest engine for the Cessna Longitude will develop 11,000 pounds of thrust. Incorporating the highly innovative technologies developed by Snecma's R&D teams, it will offer unrivaled performance, based on ambitious specifications for fuel consumption, reliability and environmental friendliness. The Silvercrest is also designed for outstanding maintainability, with advanced health monitoring functions.

"We are delighted that Cessna has chosen our engine to power their new business jet," said Pierre Fabre, Chairman and CEO of Snecma. "The Citation Longitude is a very exciting and promising aircraft, and we are proud to be able to contribute our innovative technologies and long-standing expertise in the production of commercial airplane engines."

****

Snecma (Safran group) is one of the world's leading manufacturers of aircraft and space engines, with a wide range of propulsion systems on offer. The company designs and builds commercial aircraft engines - including the CFM56 world leader and the new-advanced turbofan LEAP* - that are powerful, reliable, economical and environmentally friendly, along with military aircraft engines that have always delivered world-class performance. Snecma also develops and produces propulsion systems and equipment for launch vehicles and satellites. EngineLife®, a new brand for Snecma's service business, offers a complete range of engine maintenance, repair and overhaul (MRO) services to airlines, armed forces and operators.

*CFM56 and LEAP engines are produced and marketed by CFM International, a 50/50 joint company between Snecma (Safran group, France) and GE (USA).

Press Contact
Snecma
Communication department
Antoinette Menard
Tel. +33 (0)1 69 87 09 28
Fax +33 (0)1 69 87 09 22
Email: antoinette.menard@snecma.
CE 1420 Courcouronnes
91019 Evry Cedex - France

PRESS RELEASE

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Financials (€)
Sales 2016 17 325 M
EBIT 2016 2 461 M
Net income 2016 1 809 M
Debt 2016 942 M
Yield 2016 2,31%
P/E ratio 2016 16,08
P/E ratio 2017 16,75
EV / Sales 2016 1,65x
EV / Sales 2017 1,57x
Capitalization 27 720 M
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Average target price 67,0 €
Spread / Average Target 0,80%
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Philippe Petitcolin Chief Executive Officer & Director
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