Dassault Aviation: Financial Release - 2018 annual results


  2018 2017 (pro forma IFRS 15)
Order intake EUR 5,024 million

12 Rafale Qatar
42 Falcon
(52 orders and
cancellation of the last 10
Falcon 5X)
EUR 3,289 million

38 Falcon
(41 orders and
cancellation of 3
Falcon 5X)
Adjusted net sales (*) EUR 5,084 million

9 Rafale Egypt
3 Rafale France
41 Falcon
EUR 4,876 million

8 Rafale Egypt
1 Rafale France
49 Falcon
as of December 31
EUR 19,376 million

101 Rafale
(73 Export and 28 France)
53 Falcon
(no longer including Falcon 5X)
EUR 19,460 million

101 Rafale
(70 Export and 31 France)
52 Falcon
(incl. Falcon 5X not canceled)
Adjusted operating income (*) EUR 669 million EUR 357 million
Adjusted operating margin 13.2% of net sales
9.2% without Safran compensation
7.3% of net sales

Adjusted net income (*) EUR 681 million
€ 82.1 / share
EUR 410 million
€ 49.8 / share
Adjusted net margin 13.4% of net sales
10.8% without Safran compensation
8.4% of net sales

Available cash
as of December 31
EUR 5,211 million EUR 4,121 million
Dividends EUR 177 million
€ 21.2 / share
EUR 127 million
€ 15.3 / share
Employee profit-sharing and incentives including 20% correlated social tax
Workforce as of December 31
EUR 168 million


EUR 119 million



Note: Dassault Aviation recognizes the Rafale Export contracts in their entirety (including the Thales and Safran parts), whereas for France, only the Dassault Aviation part is recognized.

Main IFRS aggregates (see reconciliation table in the Appendix)

(*) Consolidated net sales EUR 5,119 million EUR 4,901 million
(*) Consolidated operating income EUR 708 million EUR 218 million
(*) Consolidated net income EUR 573 million EUR 630 million

Saint-Cloud, February 28, 2019 - The Board of Directors met yesterday under the chairmanship of Mr. Éric Trappier and approved the 2018 financial statements. The audit procedures were performed and the audit report for certification purposes is being issued.

Éric Trappier, Chairman and Chief Executive Officer of Dassault Aviation, stated:

"Above all, 2018 will be remembered for Serge Dassault's passing away. 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.

Besides, 2018 was eventful for the Company, in both defense and civilian programs. The following events in particular stand out:

  • the announcement of the launch of the Falcon 6X to replace the Falcon 5X and the amicable agreement signed with Safran to settle the dispute over the difficulties encountered with the Silvercrest engine,
  • the entry into force of the option for 12 additional Rafale for Qatar,
  • the notification of the F4 standard (firm and optional batches) announced by the French Minister of the Armed Forces during her visit in Mérignac in early January 2019 showing the ongoing efforts to improve the Rafale, which will add innovative connectivity (new satellite and intra-patrol connections, communication server, software radio), new capabilities (enhanced radar sensors and optronic frontal sector) and incorporate new weapons (Mica NG air-to-air missile and 1,000 kg modular air-to-ground weapons).

In addition to these major events, 2018 was marked by:

In defense programs:

  • the 2019-2025 French Military Procurement Law passed in 2018 shows a positive trend in the Nation's defense efforts and gives the Company expectations for the coming years: a batch of 30 additional Rafale (reaffirmation by the French Minister of the Armed Forces on January 14th in Mérignac), notification expected for 2023 ; launch of the European MALE drone program in 2019 (cooperation between Airbus, Dassault Aviation and Leonardo) ; selection by the Ministry of the Armed Forces of the Falcon platform to carry the Universal Electronic Warfare Capacity (CUGE), studies notified ; upgrade of 18 ATL2 instead of the 15 initially planned; initialization of the ATL2 replacement program (future PATMAR); renewal of the MARitime SURveillance aircraft fleet based on the Falcon 2000LXS, first studies notified ; and confirmation of the airborne component upgrade,
  • in June 2018, in Meseberg, at the Franco-German council, in the presence of the French President and the German Chancellor, France and Germany signed a Letter of Intent materializing their will to build together the future weapons systems and act towards the construction of the Europe of Defense. This Letter of Intent was followed, on November 19 2018, by a common statement to launch the initial works of the Future Combat Air System (FCAS): on January 31, 2019, a 2-year conception and architecture study was notified under the leadership of Dassault Aviation and Airbus ; demonstrators for the combat aircraft and its engine are to be launched at the 2019 Paris Air Show ; Dassault Aviation being the leader of the New Generation Fighter (NGF),
  • delivery of 3 Rafale to France, bringing the total Rafale delivered to the French Forces up to 152 (the last 28 Rafale out of the 180 aircraft ordered being forecasted to be delivered from 2022 on),
  • the delivery to France of the last 2 Rafale Navy retrofitted from the F1 standard to the F3 standard; all 10 Rafale Marine now meet the F3 standard,
  • the delivery to the French Air Force of the F3-R standard,
  • the delivery of 9 Rafale to Egypt, bringing the total number of aircraft delivered to 23 out of the 24 ordered,
  • the continuation of the Egyptian Rafale support and the entry into force of the associated Maintenance in Operational Conditions contract,
  • the continued 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 continued 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, we answered in July 2018 the "Request for Information" for the supply of 110 combat aircraft to the Indian Air Force (in May 2017, we had answered the "Request for Information" for the supply of 57 combat aircraft to the Indian Navy),
  • the continued upgrading works on the French Mirage 2000D (the Mirage 2000N entered into service in 1988 was discarded from French Air Forces),
  • the start of a new nEUROn flight test campaign dedicated to stealthiness demonstration with the French Procurement Agency, the French Air Force, and the French Navy, in the frame of a contract for studies and flight tests over 2018-2020,

for the "Make in India" project we :

1 | 2 | 3 | 4  Next Page »

Review Article Be the first to review this article

Featured Video
Latest Blog Posts
The Open Geospatial Consortium BlogThe OGC Blog
by The Open Geospatial Consortium Blog
OGC appoints three new members to its Board of Directors
Order Fulfillment & Sales Support for One-Compass Suite of Companies at Denver, Colorado
Manager, Remote Sensing Sales for One-Compass Suite of Companies at Denver, Colorado
Assistant Engineer. for Alameda County CA at Oakland, California
GIS Analyst for Union County NC at Monroe, California
GIS Analyst for City of Carrollton at Carrollton, Texas
Geoscientist for University of Nebraska at lincoln, Nebraska
Upcoming Events
GEO Business at ExCel London United Kingdom - May 19 - 20, 2021
FOSSGIS-Konferenz 2021 at OST - Ostschweizer Fachhochschule Campus Rapperswil Oberseestrasse 10 Rapperswil Switzerland - Jun 6 - 9, 2021
GI_Forum 2021 | re.connecting spatially at Salzburg Austria - Jul 5 - 9, 2021
InterDrone 2021 at Hyatt Regency Dallas TX - Aug 10 - 12, 2021
University of Denver GIS Masters Degree Online

© 2021 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation TechJobsCafe - Technical Jobs and Resumes  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise