Dassault Aviation Presents 2021 First Half-Year Results

Photo © Dassault Aviation - C. Cosmao27.07.2021 Europe
Dassault Aviation Presents 2021 First Half-Year Results

Dassault Aviation Presents 2021 First Half-Year Results

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The Board of Directors of Dassault Aviation met Thursday under the chairmanship of Mr. Éric Trappier and approved the 2021 half year financial statements. The statutory auditors performeda limited review of these consolidated financial statements and the audit report for certification purposesis being issued.

On this occasion, Éric Trappier, Chairman and Chief Executive Officer of Dassault Aviation, said: “The 1st half of 2021 saw contracts for the Rafale Export and Rafale France, the Falcon 6X maiden flight,the resumption of Falcon orders, the Falcon 10X reveal and its 1st orders.

In the military aircraft segment, the year began with the sale to Greece of 18 Rafale (6 new and 12 preowned aircraft currently in service with the French military), followed by the sale to France of 12 additional Rafale to replace the 12 pre-owned aircraft sold to Greece, bringing the total Rafale France ordered up to 192.

Egypt also signed a contract to purchase an additional 30 Rafale, bringing the number of Rafale in service in the Egyptian Air Force to 54. The contract shall enter into force upon receipt of the 1st down payment and, therefore, it is not included in the backlog as of June 30th, 2021.

Croatia announced that it had selected the Rafale with a view to acquiring 12 pre-owned aircraft from France. We also continued negotiations and prospection for the Rafale,” Trappier added

Active discussions and negotiations for the FCAS continued during the 1st half of 2021:

  • The Joint Concept Study (JCS) launched in January 2019 is nearing completion
  • Launched in February 2020, phase 1A of the FCAS demonstrators, and the New Generation Fighter in particular, is continuing. The focus is on aerodynamics, with the first wind tunnel tests scheduled for September 2021

The contract for phase 1B (under negotiation) is still to be signed. This will cover all the work carried out jointly between France, Germany and Spain until 2024 (NGF demonstrator studies, for which Dassault Aviation is the prime contractor). Discussions are being finalized with the French Defense Procurement Agency (DGA) on intellectual property rights.

The contract for the Eurodrone, a medium-altitude, long-endurance drone, between the OCCAR (Organisation for Joint Armament Cooperation) and Airbus Defence and Space (the prime contractor) has been negotiated. Notification is expected in 2nd half 2021. The contracts between Airbus Defence and Space and its main partners, Leonardo and Dassault Aviation, are being negotiated. Dassault Aviation will be responsible for flight controls and mission communications in particular.”

“During the 1st half of the year, we delivered 13 Rafale Export (India and Qatar) and continued to support the French and Export fleets.

In the civil aircraft segment, our development efforts started to show results with the successful maiden flight of the Falcon 6X on March 10, 2021, (this flight has been dedicated to Olivier Dassault who died tragically in March 2021) demonstrating the maturity of the program and paving the way for pre-certification testing. On May 6, 2021, we unveiled the Falcon 10X, our new long-range business jet featuring the most spacious cabin on the market,”

The business aviation market showed encouraging signs of improvement during the 1st half of 2021, particularly with the recovery of air travel in the United States. Nevertheless, we note that price pressures remain. The pre-owned business jet market is buoyant,” Trappier continued.

“We delivered 6 Falcon during the 1st half of the year and booked 25 new aircraft orders (vs. 16 deliveries and 5 orders in 1st half 2020).

Lastly, following the decision of the Annual General Meeting of May 11, 2021, the par value of Dassault Aviation shares will be divided by 10. The new shares will be delivered on October 1, 2021. On that date, in exchange for each of their current shares with a par value of EUR 8 per share, shareholders will receive 10 new shares with a par value of EUR 0.80 per share,” Trappier noted.

“Our 2021 guidance remains unchanged: Delivery of 25 new Rafale and 25 new Falcon and increase in net sale,” he concluded.

 
 



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