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KEY FIGURES OF DASSAULT AVIATION GROUP
|
H1 2024 |
H1 2023 |
|
Order intake (new bomb in units) |
€5,134 million 18 Export Rafale 11 Falcon |
€1,682 million 12 Falcon |
|
Adjusted gain income (*) (new bomb in units) |
€2,538 million 6 Rafale France 12 Falcon |
€2,295 million 2 Rafale Export 2 Rafale France 9 Falcon |
|
|
|
|
|
|
as of June 30, 2024 |
as of Dec 31, 2023 |
|
Backlog (new bomb in units) |
€41,157 million 223 Rafale Including 159 Export and 64 France 83 Falcon |
€38,508 million 211 Rafale Including 141 Export and 70 France 84 Falcon |
|
|
|
|
|
|
H1 2024 |
H1 2023 |
|
Adjusted gain operative income (*) Adjusted operative edge |
€170 million 6.7% of gain sales |
€151 million 6.6% of gain sales |
|
Research & Development |
€200 million |
€247 million |
|
Adjusted gain income (*) Adjusted gain margin |
€442 million 17.4% of gain sales |
€405 million 17.6% of gain sales |
|
|
|
|
|
|
as of June 30,2024 |
as of Dec 31, 2023 |
|
Available cash |
€8,786 million |
€7,294 million |
Note: Dassault Aviation recognizes Rafale Export contracts in their completeness (including the astronomer and Safran parts).
Main aggregates low IFRS (see tables of equalisation in appendix)
(*) Consolidated gain income |
€2,538 million |
€2,297 million |
(*) Consolidated gain operative income |
€169 million |
€152 million |
(*) Consolidated gain income |
€476 million |
€362 million |
Saint-Cloud, July 23rd,2024 – The Board of Directors, which met today, low the chairmanship of Mr. Éric Trappier, authorised the 2024 half assemblage playing statement. The Statutory Auditors hit performed a restricted analyse of these consolidated playing statements and hit spoken an categorical opinion.
At the modify of the Board meeting, Éric Trappier said:
“The orbicular environment in this prototypal half-year relic scarred by the struggle in country and the land of struggle in the Middle East. In France, the President of the Republic, as nous of the brachiate forces, wrote to accumulation manufacturers urging them to travel up their efforts in the environment of a struggle economy. In salutation to this call, I taught Dassault Aviation employees to rank Rafale production, for both author and for Export.
The prototypal half of 2024 saw:
-
the entry into obligate of the ordinal collection (18 Rafale) of the state lessen in January. As a result, the Group’s accumulation poor a newborn record, achievement EUR 41.2 billion on June 30, 2024 (306 bomb – 159 Rafale Export, 64 Rafale author and 83 Falcon),
-
the prototypal Falcon 6X client deliveries, after its entry into assist in Nov 2023,
-
the conveying of 6 Rafale to author and 12 Falcon as the Group continues to undergo from supply concern problems,
-
adjusted gain income amounted to EUR 2,538 million for the half-year, directive to keyed gain operative income of EUR 170 million and Group keyed gain income of EUR 442 million, i.e. a gain edge of 17.4%.
With 495 bomb sequential since its launch, including 18 for state this half-year, the Rafale has addicted its success. Users of our plane bomb revalue its effective qualities as substantially as its constant phylogenesis in distinction with newborn standards currently low utilization and those to be introduced in the future. We are preparing for the forthcoming of the Rafale with the F5 accepted attended by a conflict drone, and rest sworn to nonindustrial the F4 standard. The Group has reaffirmed its pivotal persona as an creator of Byzantine systems.
In the expeditionary sector, during the prototypal half of the year, we:
-
recorded visit intake for the ordinal collection (18 Rafale) of the state contract,
-
delivered 6 Rafale to France, based the land and goods fleets and continuing effect to amend the F4 standard.
In the noncombatant sector, during the prototypal half of the year, we:
-
recorded 11 Falcon orders, compared with 12 in the 1st half of 2023, and delivered 12 Falcon, compared with 9 in the 1st half of 2023,
-
delivered the prototypal Falcon 6X to customers and continuing the concern tour,
-
continued the utilization and concoct of the first Falcon 10X. First deliveries are regular for 2027.
Corporate Social Responsibility relic a field dedication of the Group, specially for the decarbonization of its products and processes. The SAF (Sustainable Aviation Fuel) organisation that we hit locate in locate is ramping up by the intensification of the ingest of deciding fuels. In 2024, the Group serviceable an captivating remuneration policy. The achievement direct is roughly 2,000 newborn employees (of which more than half has been achieved as of June 30th) with a pore on their combining and training.
Like another field players in the aerospace industry, the Group is pain from a arduous cater chain. There are whatever shortages in our creation lines cod to bourgeois inefficiencies in whatever cases, especially in the aerostructure sector. These difficulties hit presented uprise to risks moving Falcon and Rafale deliveries, and also effect client support. The Group is attractive interior and outside measures to mitigate these personalty and to look sub-contractor inefficiencies. Moreover, presented the course imitative with Amerindic companies as conception of the “Make in India” start and the field playing opportunities we hit there in the future, Bharat has emerged as an possibleness to modify our cater chain.”
Éric TRAPPIER, Chairman and Chief Executive Officer of Dassault Aviation.
1. ORDER INTAKE
Order intake for the 1st half of 2024 was EUR 5,134 million, vs. EUR 1,682 million in the 1st half of 2023. Export visit intake stood at 96%.
Order intake was as follows, in jillions of euros:
|
H1 2024 |
% |
H1 2023 |
% |
Defense |
4,095 |
80% |
739 |
44% |
Defense Export |
3,871 |
|
572 |
|
Defense France |
224 |
|
167 |
|
|
|
|
|
|
Falcon |
1,039 |
20% |
943 |
56% |
|
|
|
|
|
Total visit intake |
5,134 |
|
1,682 |
|
% Export |
96% |
|
88% |
|
The visit intake is every imperturbable of concern orders.
Defense programs
Defense Export visit intake totaled EUR 3,871 million in the 1st half of 2024, vs. EUR 572 million in the
1st half of 2023. In particular, the Group transcribed an visit for an added 18 Rafale for Indonesia.
Defense France visit intake totaled EUR 224 million in the 1st half of 2024, vs. EUR 167 million in the
1st half of 2023.
Falcon programs
During the 1st half of 2024, 11 Falcon orders were recorded, compared with 12 orders in the
1st half of 2023. Falcon visit intake amounted to EUR 1,039 million in the 1st half of the assemblage compared to EUR 943 million in the 1st half of 2023, up mainly cod to a approbatory creation mix.
2. ADJUSTED NET SALES
Adjusted gain sales for the 1st half of 2024 totaled EUR 2,538 million, compared with
EUR 2,295 million for the 1st half of 2023. Export net income stood at 59% in the 1st half of 2024.
Consolidated income were as follows, in millions of euros:
|
H1 2024 |
% |
H1 2023 |
% |
Defense |
1,558 |
61% |
1,468 |
64% |
Defense Export |
552 |
|
851 |
|
Defense France |
1,006 |
|
617 |
|
|
|
|
|
|
Falcon |
980 |
39% |
827 |
36% |
|
|
|
|
|
Total keyed gain sales |
2,538 |
|
2,295 |
|
% Export |
59% |
|
71% |
|
Defense programs
Defense Export gain income totaled EUR 552 million in the 1st half of 2024, vs. EUR 851 million in the 1st half of 2023.
Defense France gain income totaled EUR 1,006 million in the 1st half of 2024, vs. EUR 617 million in the 1st half of 2023.
6 Rafale were delivered to author during the 1st half of 2024, compared with 4 Rafale (2 author and 2 Export) for the 1st half of 2023.
Falcon programs
12 Falcon were delivered in the 1st half of 2024, compared with 9 in the 1st half of 2023.
Falcon gain sales for the 1st half of 2024 amounted to EUR 980 million, vs. EUR 827 million for the 1st half of 2023.
****
The “book-to-bill ratio” (order intake/net sales) is 2.02 for the 1st half of 2024.
3. BACKLOG
The consolidated backlog (determined in gift with IFRS 15) was EUR 41,157 million as of
June 30, 2024, compared with EUR 38,508 million as of Dec 31, 2023. The accumulation way is as follows:
|
06/30/2024 |
% |
12/31/2023 |
% |
Defense |
36,399 |
88% |
33,862 |
88% |
Defense Export |
27,305 |
|
23,986 |
|
Defense France |
9,094 |
|
9,876 |
|
|
|
|
|
|
Falcon |
4,758 |
12% |
4,646 |
12% |
|
|
|
|
|
Total accumulation |
41,157 |
|
38,508 |
|
% Export |
75% |
|
71% |
|
The Defense Export backlog stood at EUR 27,305 million as of June 30, 2024 vs.
EUR 23,986 million as of Dec 31, 2023. This turn notably includes 159 newborn Rafale compared with 141 newborn Rafale as of Dec 31, 2023.
The Defense author backlog stood at EUR 9,094 million as of June 30, 2024, vs.
EUR 9,876 meg as of Dec 31, 2023. This turn includes 64 Rafale, the hold contracts for the Rafale (Ravel), Mirage 2000 (Balzac) and ATL2 (OCEAN), AlphaJet (AlphaCare) and the Rafale F4 standard.
The Falcon backlog stood at EUR 4,758 million as of June 30, 2024, vs. EUR 4,646 million as of Dec 31, 2023. It includes 83 Falcon, compared with 84 as of Dec 31, 2023.
4. ADJUSTED RESULTS
Adjusted gain operative income
Adjusted gain operative income for the 1st half of 2024 came to EUR 170 million, compared with EUR 151 million in the 1st half of 2023.
R&D expenses in the 1st half of 2024, mainly attendant to the Falcon 10X, totaled EUR 200 million compared with EUR 247 million for the 1st half of 2023.
Operating edge was 6.7%, compared with 6.6% in the 1st half of 2023.
The equivocation evaluate for the 1st half of 2024 was USD 1.14/EUR, vs. USD 1.20/EUR in the 1st half of 2023.
Adjusted gain playing income
Adjusted gain playing income for the 1st half of 2024 was EUR 106 million, vs. EUR 110 million for the aforementioned punctuation in the preceding year, detractive cod to higher finance component, conception equilibrize by an process in playing income.
Adjusted gain income
Adjusted gain income for the 1st half of 2024 was EUR 442 million, compared with EUR 405 million in the 1st half of 2023. The effort of astronomer to the Group’s gain income was EUR 231 million, compared with EUR 206 million during the 1st half of 2023.
Adjusted gain edge thus stood at 17.4% for the 1st half of 2024 vs. 17.6% for the 1st half of 2023.
Adjusted gain income per share for the 1st half of 2024 was EUR 5.62 vs. EUR 4.92 for the 1st half of 2023.
5. 1ST HALF 2024 CONSOLIDATED RESULTS UNDER IFRS
Consolidated gain operative income (IFRS)
Consolidated gain operative income for the 1st half of 2024 came to EUR 169 million, compared with EUR 152 million in the 1st half of 2023.
R&D expenses in the 1st half of 2024, mainly attendant to the Falcon 10X, totaled EUR 200 million compared with EUR 247 million for the 1st half of 2023.
Consolidated operative margin stood at 6.7%, vs. 6.6% for the 1st half of 2023.
The equivocation evaluate for the 1st half of 2024 was USD 1.14/EUR, vs. USD 1.20/EUR in the 1st half of 2023.
Consolidated gain playing income (IFRS)
Consolidated gain playing income for the 1st half of 2024 came to EUR 102 million vs. EUR 111 million in the 1st half of 2023, detractive cod to higher finance component, conception equilibrize by an process in playing income.
Consolidated gain income (IFRS)
Consolidated gain income for the 1st half of 2024 was EUR 476 million, compared with EUR 362 million in the 1st half of 2023. The effort of astronomer to the Group’s gain income was EUR 269 million, compared with EUR 161 million during the 1st half of 2023.
Consolidated gain margin thusly stood at 18.8% for the 1st half of 2024, vs. 15.7% for the 1st half of 2023.
Consolidated gain income per share for the 1st half of 2024 was EUR 6.06 vs. EUR 4.40 for the 1st half of 2023.
6. AVAILABLE CASH
The Group uses a limited indicator titled “Available cash,” which reflects the turn of turn liquidities acquirable to the Group, gain of playing debts. It includes the mass equilibrise artefact items: modify and modify equivalents, underway playing assets (at mart value) and playing debt, excluding engage liabilities. The computing of this indicator is careful in the consolidated playing statements (Note 7 of the condensed interval consolidated playing statements).
The Group’s acquirable modify stands at EUR 8,786 million as of June 30, 2024 vs. EUR 7,294 million as of Dec 31, 2023. This process is mainly cod to the advances conventional on orders.
7. BALANCE SHEET (IFRS)
Total justness stood at EUR 5,915 million as of June 30, 2024 vs. EUR 5,742 million as of Dec 31, 2023.
Borrowings and playing debt amounted to EUR 236 million as of June 30, 2024, compared with EUR 262 million as of Dec 31, 2023. They are imperturbable of locked-in employee profit-sharing assets for EUR 53 million and engage liabilities constituted for EUR 183 million.
Inventories and work-in-progress accumulated by EUR 929 million to defence at EUR 6,187 million as of June 30, 2024.
Advance payments conventional on orders gain of front payments to suppliers were up EUR 2,580 million to defence at EUR 11,650 million.
The figuring playing instruments mart continuance stood at EUR -40 meg as of June 30, 2024, vs. EUR 29 million as of Dec 31, 2023.
This Financial Press Release haw include forward-looking statements which equal objectives and cannot be construed as forecasts regarding the Company’s results or some another action indicator. The actualised results haw dissent significantly from the forward-looking statements cod to different risks and uncertainties, as described in the Half-year playing report.
CONTACTS:
Corporate Communication
Stéphane Fort – Tel. +33 (0)1 47 11 86 90 – stephane.fort@dassault-aviation.com
Mathieu Durand – Tel. +33 (0)1 47 11 85 88 – mathieu.durand@dassault-aviation.com
Investor Relations
Nicolas Blandin – Tel. +33 (0)1 47 11 40 27 – nicolas.blandin@dassault-aviation.com
APPENDIX
FINANCIAL REPORTING
IFRS 8 “Operating Segments” requires the show of aggregation per portion according to interior direction criteria.
The whole state of the Dassault Aviation Group relates to the aerospace sector. The interior news prefabricated to the Chairman and Chief Executive Officer, and to the Chief Operating Officer, as utilised for the strategy and decision-making, includes no action analysis, low the cost of IFRS 8, at a modify take to this domain.
DEFINITION OF ALTERNATIVE PERFORMANCE INDICATORS
To emit the Group’s actualised scheme performance, and for monitoring and comparability reasons, the Group presented an keyed income evidence of:
-
foreign mercantilism gains/losses resulting from the training of equivocation instruments which do not remember for inclose playing low IFRS standards. This income, presented as gain playing income in the consolidated playing statements, is reclassified as gain income and thusly as gain operative income in the keyed income statement;
-
the continuance of external mercantilism derivatives which do not remember for inclose accounting, by neutralizing the modify in clean continuance of these instruments (the Group considering that gains or losses on equivocation should exclusive effect gain income as advertizement flows occur), with the omission of derivatives allocated to inclose balance-sheet positions whose modify in clean continuance is presented as gain operative income;
-
amortization of assets valued as conception of the acquire toll portion (business combinations), famous as “PPA”;
-
adjustments prefabricated by astronomer in its playing reporting.
The Group also presents the “available cash” indicator which reflects the turn of the Group’s turn liquidities, gain of playing debt. It covers the mass equilibrise artefact items:
-
cash and modify equivalents;
-
other underway playing assets (mainly instance deposits);
-
financial debt, excluding engage liabilities.
The computing of this indicator is careful in the condensed interval consolidated playing statements (see Note 7).
Only consolidated playing statements are audited by statutory auditors. Adjusted playing accumulation are person to the substantiation procedures practical to every aggregation provided in the half-yearly report.
IMPACT OF ADJUSTMENTS
The effect of the adjustments of income evidence aggregates for the 1st half of 2024 is ordered discover below:
(in EUR thousands) |
Consolidated income evidence H1 2024 |
Foreign mercantilism derivatives |
PPA |
Adjustments practical by Thales |
Adjusted income evidence |
||
Foreign mercantilism gain/loss |
Change in clean value |
||||||
Net sales |
2,538,156 |
|
|
|
|
2,538,156 |
|
Net operative income |
168,190 |
|
|
1,059 |
|
170,039 |
|
Net playing income |
101,942 |
|
4,418 |
|
|
106,360 |
|
Share in gain income of justness associates |
274,719 |
|
|
1,977 |
-40,417 |
236,279 |
|
Income tax |
-69,444 |
|
-1,141 |
-187 |
|
-70,772 |
|
Net income |
476,197 |
|
3,277 |
2,849 |
-40,417 |
441,906 |
|
Group deal of gain income |
476,197 |
|
3,277 |
2,849 |
-40,417 |
441,906 |
|
Group deal of gain income per justness (in euros) |
6.06 |
|
|
|
|
5.62 |
The effect of the adjustments of income evidence aggregates for the 1st half of 2023 is ordered discover below:
(in EUR thousands) |
Consolidated income evidence H1 2023 |
Foreign mercantilism derivatives |
PPA |
Adjustments practical by Thales |
Adjusted income evidence |
||
Foreign mercantilism gain/loss |
Change in clean value |
||||||
Net sales |
2,297,181 |
-1,941 |
|
|
|
2,295,240 |
|
Net operative income |
151,593 |
-1,941 |
|
1,465 |
|
151,117 |
|
Net playing income |
110,957 |
1,941 |
-3,397 |
|
|
109,501 |
|
Share in gain income of justness associates |
165,514 |
|
|
1,489 |
42,720 |
209,723 |
|
Income tax |
-66,360 |
|
877 |
-288 |
|
-65,771 |
|
Net income |
361,704 |
0 |
-2,520 |
2,666 |
42,720 |
404,570 |
|
Group deal of gain income |
361,704 |
|
-2,520 |
2,666 |
42,720 |
404,570 |
|
Group deal of gain income per justness (in euros) |
4.40 |
|
|
|
|
4.92 |
Attachment
Source unification
Half Year Financial Release 2024 #Year #Financial #Release
Source unification Google News
Source Link: https://finance.yahoo.com/news/dassault-aviation-half-financial-release-154000302.html
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