Snecma Logs Strong Sales and Earnings Growth in 1998
;The Board of Directors of Snecma met today, with Jean-Paul Béchat presiding, to approve the financial statements for 1998, which will be submitted to the Annual General Meeting of Shareholders, on May 11, 1999. ;Snecma's consolidated sales rose 23.5% to 28.47 billion francs (5.06 billion dollars), compared with 23.05 billion francs (4.09 billion dollars) in 1997. Export sales accounted for 71% of the total, with the civil sector taking an 80% share. ;Consolidated operating income in 1998 amounts to 2.15 billion francs (382 million dollars), a 78% increase over 1997. ;Net income excluding minority interests jumped 128% to 1.63 billion francs (290 million dollars). ;Snecma booked 30 billion francs (5.3 billion dollars) worth of orders in 1998, a 10% increase over 1997. Given the strong backlog of orders, Snecma expects to maintain its sales and earnings in 1999. ;This excellent performance reflects both company-wide efforts and progress initiatives over the pas few years, and the growth in the civil market. ;Snecma holds world or European leadership positions in its three core businesses: - Civil and military aerospace propulsion, as supplier of products to Boeing, Airbus, Dassault Aviation and Arianespace, in particular. - Aircraft equipment: landing gear, braking systems, hydraulics, power transmissions, nacelles, thrust reversers and control systems. - Services for all these products.
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Snecma Logs Strong Sales and Earnings Growth in 1998
