Dassault Aviation reported its financial results for the first half of 2023. Despite facing challenges in the global business aviation market, the company reported solid growth and celebrated significant achievements. Notably, Dassault Aviation’s successful Rafale fighter aircraft continues to garner export prospects.
The company reported adjusted net income of €405 million for the period, a significant increase from €318 million in the first half of 2022. However, the adjusted operating income fell to €151 million, down from €200 million in the same period last year.
“Like most other players in the sector, we have problems with the supply chain,” Eric Trappier, Chairman and Chief Executive Officer of Dassault Aviation, noted. “The situation has deteriorated even further compared to 2022. We are striving to limit the negative impacts by further monitoring the production of our suppliers. This situation has an impact on the development and production of our aircraft, at a time when we must step up to honor our commitments.”
Dassault Aviation delivered 4 Rafales (2 for export and 2 for France) and 4 second-hand Rafales to Greece during the first half of 2023. It also delivered the first of the four Falcon 2000s ordered by the Republic of Korea in 2022 and the seventh and last ATL2 maritime patrol aircraft upgraded to the standard 6 for the French Navy.
The Indian Government announced the selection of Rafale Marine to equip the Indian Navy. This decision came after a conclusive test campaign in India, where the Rafale Marine showcased its operational capabilities and adaptability to the Indian Navy’s specific requirements against the Boeing F/A-18 Super Hornet.
India’s selection of the Rafale Marine means that it will operate both versions of the aircraft (Air and Navy), making it the first country, other than France, to do so.
In France, the Military Programming Law, voted on July 13, 2023, includes plans for the fifth Rafale tranche, the Rafale F5 standard with the development of a drone based on the nEUROn demonstrator, and the continuation of the SCAF/NGF program. Additionally, the law includes the procurement of five Falcon 2000 Albatros maritime surveillance and intervention planes and a third Falcon 8X Archange electronic warfare aircraft.
Dassault began working on the architectural design based on the Falcon 10X for a future maritime patrol aircraft as part of the French-German Maritime Airborne Warfare System or MAWS program on which it is competing with the Airbus A320neo.
In the civil sector, Dassault Aviation recorded 12 Falcon orders in the first half of 2023, a decrease from the 41 orders received during the same period last year. The Falcon 6X flight tests were successfully completed, and the aircraft’s certification is awaited to commence deliveries. Development of the Falcon 10X continues, with the company now entering the industrialization and start-up phase.
Dassault Aviation’s objectives for the year remain unchanged, with expectations of delivering 15 Rafales and 35 Falcons (including the Falcon 6X) and a decrease in net sales compared to 2022.