Dassault Aviation: 2020 first half-year results financial release

KEY FIGURES FOR THE 1 st HALF OF 2020

  H1 2020 H1 2019
Order intake € 984 million

5 Falcon
€ 2,900 million

7 Falcon
Rafale OCM RAVEL
Adjusted net sales (*) € 2,641 million

7 Rafale Export
16 Falcon
€ 3,058 million

10 Rafale Export
17 Falcon
     
  as of June 30, 2020 as of December 31, 2019
Backlog

 
€ 16,193 million

68 Rafale
of which
28 Rafale France
40 Rafale Export
42 Falcon
€ 17,798 million

75 Rafale
of which
28 Rafale France
47 Rafale Export
53 Falcon
     
  H1 2020 H1 2019
Adjusted operating income (*)
Adjusted operating margin
€ 55 million
2.1% of net sales
€ 250 million
8.2% of net sales
Research & Development € 262 million
9.9% of net sales
€ 258 million
8.4% of net sales
Adjusted net income (*)
Adjusted net margin
€ 87 million
3.3% of net sales
€ 286 million
9.3% of net sales
     
  as of June 30, 2020 as of December 31, 2019
Available cash € 3,921 million € 4,585 million

Note: Dassault Aviation recognizes Rafale Export contracts in their entirety (including the Thales and Safran parts).

Main aggregates under IFRS in € million (see reconciliation table in appendix)

( *) Consolidated net sales 2,646 3,066
( *) Consolidated operating income 57 259
( *) Consolidated net income 32 254

Saint-Cloud, July 23, 2020 - The Board of Directors met yesterday under the chairmanship of Mr. Éric Trappier and approved the 2020 half year financial statements. The statutory auditors performed a limited review of these consolidated financial statements and the audit report for certification purposes is being issued.

The Covid-19 epidemic triggered an unprecedented global crisis as to its sanitary and economic consequences, its magnitude, its geographic scope and its duration. 

First of all, I would like to thank, from the bottom of my heart, the healthcare workers who took care of all the patients with an admirable devotion, as well as all the employees of the Group for their involvement and the team spirit they made proof of on a daily basis.

We contributed to the national effort in France by providing our Falcons. Dassault Aviation took part in the operation called “Résilience”, with the French Ministry of Armed Forces, our Falcons flew healthcare workers and medical equipment within France and worldwide. Besides, in the frame of the operation organized by Aviation Without Borders (ASF), our Falcon repatriated and transported healthcare personnel or medical equipment on request.

During this period, Dassault Aviation Group adapted and reorganized its operations to ensure employee safety, and launched a Business Continuity Plan.

Regarding Dassault Aviation Parent Company, after production activities were suspended on March 18, followed by tertiary activities on March 23, business gradually resumed in successive steps from April 3, in an ongoing dialogue with staff representative bodies (including the Central Economic and Social Committee and the Health, Safety and Working Conditions Committee), in accordance with health and social constraints by focusing on remote working and by deploying temporary furlough measures when this was unavoidable. On June 8, further to the national lockdown lifting, on site presence became the norm, together with remote working to cope with the workspace occupancy rate.

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