in Business & Finance

Dassault Aviation releases its financial report for 2018 and goals for 2019

Posted 5 March 2019 · Add Comment

Éric Trappier, chairman and CEO of Dassault Aviation has presented the financial report for 2018 together with the main guidance for 2019.

 

The Group plans to deliver 45 Falcon and 26 Rafale Export this year. Net sales will rise significantly in 2019 despite economic and geopolitical uncertainties due to a global growth slowdown, US tax reforms and US/China negotiation outcome, and the impact of Brexit.

Dassault Aviation aims also to develop and strengthen its commercial footprint worldwide. The Group has acquired the maintenance activities of two aerospace companies, ExecuJet and TAG Aviation, representing 15 service centres located in Africa, Middle-East, Asia-Pacific and Europe.  Through this acquisition the Group will increase the available maintenance capacity, develop a high-quality customer support network and increase its market share in Falcon maintenance.

Trappier started the 2018 highlights by paying homage to Serge Dassault.  “His passion, his tenacity, his vision, his patriotism stay in our hearts and our history. We are grateful to his memory as to our founder’s Marcel Dassault. Our task is to carry on their legacy.”  

2018 was eventful for Dassault Aviation, in both defence and civilian programs with the launch of the Falcon 6X for an entry into service scheduled in 2022. “The program development is in line with the schedule: the primarily development stage has been completed; first structural parts are being manufactured. Tests on the PW812D engine are also on time “, Trappier said. Four engines are being tested and 120 hours were run on a flying test bench to replace the Falcon 5X. An agreement was also signed with Safran to settle the dispute over the difficulties encountered with the Silvercrest engine.

He added that the future Falcon is in progress and marketing and technical studies are ongoing. “The development of a high-quality customer support network, through the acquisition of service centres is strengthening our footprint, in Europe, Asia-Pacific, Africa and Middle-East”.     

2018 was also marked by the option for 12 additional Rafale from Qatar, the notification of the F4 standard (firm and optional batches) showing the ongoing efforts to improve the Rafale, which will add innovative connectivity, new capabilities and incorporate new weapons.  Furthermore, there are negotiations with UAE Armed Forces to upgrade their Mirage 2000-9 fleet.

2018 net sales amounted to EUR 5,084 million, compared to EUR 4,876 million in 2017. Export represented 78%.  

Defence orders totalled EUR 2,710 million, compared to EUR 905 million in 2017.

Falcon orders amounted to EUR 2,314 million against EUR 2,384 million in 2017. 

42 Falcon were ordered in 2018 (52 orders and cancellation of the last 10 Falcon 5X) compared to 38 Falcon were ordered (41 orders and 3 cancellations of Falcon 5X) in 2017. 

Dassault Aviation CEO stated that the FalconEye system certification for Falcon 900LX is in progress. Regarding Customer Support, Dassault Aviation was ranked first in several categories of the Aviation International News (AIN) - AOG Response, Warranty Fulfillment, Parts Availability and Overall Aircraft Reliability. Besides, the Falcon Response offer which includes 2 dedicated Falcon, has performed 191 missions (1,395 flight hours),

2018 was also marked by the delivery of 9 Rafale to Egypt, bringing the total number of aircraft delivered to 23 out of the 24 ordered and the Egyptian Rafale support programme, the execution of the 36 Rafale contract with Qatar, including pilots training and support implementation (the official acceptance of the first Qatari Rafale took place on February 6 2019),   the execution of the 36 Rafale Indian contract. The Indian Air Force is getting ready for the entry into service of the Rafale. Considering the important needs in India for combat aircraft, Dassault Aviation responded the country’s “Request for Information” to supply 110 combat aircraft to the Indian Air Force.  “Make in India” project was   launched with the industrial operations of the JV DRAL. The first Falcon 2000 subassemblies (T3 front tank) were completed in December 2018 and the first T1 section is expected in February 2019. The Group expanded its industrial ecosystem in India for its production line, with the deployment of a Supply Chain, regarding at first primary parts, tools, pylons, containers, as well as the establishment of an engineering centre in Pune (India).

The Group faces many strategic challenges in 2019. It will    pursue the promotion and sale of its Falcon and Rafale, complete Future Combat Air System (FCAS) studies for the launch of its demonstrators and engine at the 2019 Paris Air Show, continue the Falcon 6X development, confirm the future Falcon launch, start the Rafale F4 standard development, perform the Falcon and Rafale contracts in terms of quality, time and cost objectives, increase the effectiveness of Falcon support and continue to develop a network of high-quality service.

Dassault Aviation will continue investing in R&D in line with its DNA, innovation and technology, through a digital transformation to remain a leader in this sector. It has thus signed a strategic partnership with Dassault Systèmes to implement a 3DExperience collaborative engineering platform and a big data policy to improve and offer additional products and services.

 

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