Dassault Aviation: Financial Release - July 19, 2018

1.   KEY FIGURES FOR THE 1 st HALF OF 2018 ( 1 st half 2017 restated PRO FORMA IFRS 15 )

  2018 1st half 2017 1st half
Order intake € 2,807 million € 1,415 million
18 Falcon (incl. F5X cancellation and 1st F6X orders)
12 Rafale (Qatar)
14 Falcon

 
Adjusted net sales (*) € 1,709 million

 

15 Falcon
2 Rafale (France)
€ 2,068 million

 

17 Falcon
4 Rafale (3 Egypt + 1 France)
     
  as of June 30, 2018 as of December 31, 2017
Backlog

 
€ 20,532 million

 

55 Falcon (no F5X)
111 Rafale ( 82 Export + 29 France )

 
€ 19,460 million

 

52 Falcon (incl. 5X not canceled)
101 Rafale (70 Export + 31 France)
     
  2018 1st half 2017 1st half
Adjusted operating income (*)

 

Adjusted operating margin (*)
€ 111 million

 

6.5% of net sales
€ 121 million

 

5.9% of net sales
Research & Development € 143 million
8.4% of net sales
€ 176 million
8.5% of net sales
Adjusted net income (*) € 186 million € 166 million
Adjusted net income (*) / share
Adjusted net margin (*)
€ 22.4 per share
10.9% of net sales
€ 20.2 per share
8.0% of net sales
     
  As of June 30, 201 8 As of December 31, 2017
Available cash € 5,029 million € 4,121 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 aggregates under IFRS 

Consolidated net sales (*) € 1,720 million € 2,082 million
Consolidated operating income (*) € 124 million € 112 million
Consolidated net income (*) € 125 million € 357 million

(*) See table of reconciliation between the consolidated income statement and the adjusted income statement in appendix.

 

2.   2018 outlook

The Group confirms its forecasts published on March 8, 2018, namely the delivery of 40 Falcon and
12 Rafale (3 to France and 9 for Export) and 2018 net sales should be close to 2017's.

TRIBUTE TO SERGE DASSAULT

The Board of Directors pays tribute to Serge Dassault, who passed away on May 28 at the age of 93.

Serge Dassault, a graduate of the École Polytechnique and the École Nationale Supérieure de l'Aéronautique, started at the Company's engineering department in 1951 under the direction of Henri Deplante before taking responsibility for flight tests.

In that capacity, he oversaw the development of several aircraft, such as the Super Mystère B2, Mirage III, Etendard and Mirage IV.

After being appointed Military Export Director, he handled the negotiations that led to the purchase of the Mirage III by Switzerland and Australia. He also launched the Mystère 20 sales campaign in the United States.

After his time at Société Electronique Marcel Dassault, which later became Electronique Serge Dassault, he became Chairman and CEO of our Company from the end of 1986 until April 2000.

During that period, under his leadership, our company successfully deployed long-term and large-scale strategies consistent with the long cycles typical of our products.

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