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Q1 2022 Safran SA Corporate Sales Call Transcript
Welcome to the Safran 2022 Revenue Conference Call. At this time, I would like to turn the conference over to your host, Olivier Andries, CEO; and Pascal Bantegnie, Group CFO. Mr. Andries, please go ahead.
Good morning, everyone. I'm pleased to welcome you to the Safran Third Quarter 2022 call. I'm here with Pascal Bantegnie, our CFO.
I would first like to have a thought for all individuals impacted by the conflict in Ukraine. It reminds us more than ever that sovereignty is not a vague concept and defense activity is a key asset to protect peace and stability.
Let's go straight to Page 4 with a summary of our talking points. Air traffic recovery is still the #1 driver for our activity, as you know, with a very high level of volatility in China and a strong decline in Russia. Apart from these 2 countries, fundamentals are improving. China remains a key watch item for 2022.
In this context, revenue grew by 17% on an organic basis in Q1 2022 driven by all activities, notably services in
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