Following the new share buyback plan announced in early December to cancel 5 billion euros worth of shares between 2025 and 2028, Safran yesterday signed an agreement with an investment services provider for a first tranche of this new share buyback plan for cancellation.
Under the terms of this agreement, Safran will buy back its own shares for a maximum amount of 350 million euros, starting on January 10, 2025 and ending no later than April 14, 2025.
This operation will be carried out in accordance with the authorization to buy back shares granted by the Annual General Meeting of Shareholders on May 23, 2024.
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Safran is a high technology international group, a leading equipment provider in the Aerospace and Defense markets. The group specializes in the design, manufacturing, and marketing of equipment and systems of high technology mechanical and electronic equipment. Net sales break down by product family as follows:
- aeronautic and space propulsion systems (50.4%): helicopter motors (No. 1 worldwide), civil and military airplanes motors, systems for space lancers and missiles, turboreactors for drone targets, etc.;
- aircraft equipment, defense systems and aerosystems (38.5%): airplane engine pods, landing gear, braking systems, electric wiring systems, etc. Safran also offers on board aircraft systems and equipment (primarily evacuation slides, emergency arresting systems, protective parachutes and oxygen systems, electrical power management systems, control systems, water and waste management systems and connectivity systems) and defense and security systems (helicopter flight controls, fingerprint-based biometric identification systems (No. 1 worldwide), inertial systems, optronic systems, tactical drone systems, etc.);
- aircraft interiors (11%): cabin interiors and seats;
- other (0.1%).
Net sales are distributed geographically as follows: France (19%), Europe (23%), Americas (33%), Asia and Oceania (16%), Africa and the Middle East (9%).
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