Dassault Aviation: Financial Release - 2018 annual results

  • launched the industrial operations of the JV DRAL: 2018 being the start of the ramp-up. Production of the first Falcon 2000 subassemblies (T3 front tank) completed in December 2018, first T1 section in February 2019,
  • expanded our industrial ecosystem in India for our production line, with the deployment of a Supply Chain, regarding at first primary parts, tools, pylons, containers, as well as our engineering department activities, with the establishment of an engineering center in Pune (India),

in MARitime SURveillance and MARitime PATrol aircraft:

  • the order of a 5th SURMAR Falcon 2000 (maritime surveillance) by the Japanese Coast Guard (first deliveries scheduled in first half 2019),
  • the delivery of the 1st retrofitted SURMAR Falcon 50 with additional capacity for dropping SAR (Search And Rescue) chains,

regarding space programs (2018 was remarkable for on interest in the new Defense space policy), we notice:

  • for space vehicles, a new bath of the study contract for the reusable orbital vehicle "Space Rider" from the European Space Agency (ESA), of which the first flight is scheduled in 2021. Dassault Aviation is in charge of the vehicle shape design,
  • for the pyrotechnic, the contractualization of 2 studies with the French Defense Procurement Agency (DGA) and the French Space Agency (CNES) in order to apply the pyrodigital technology allowing a securitized digital bus to convey the pyrotechnic orders for both Callisto demonstrator and Rafale,

in civilian programs:

  • the order intake of 42 Falcon in 2018 (52 orders and cancellation of the last 10 Falcon 5X). In 2017,
    38 Falcon were ordered (41 orders and 3 Falcon 5X cancellations),
  • the delivery of 41 Falcon,
  • the official launch of the Falcon 6X program, in early 2018 for an entry into service scheduled in 2022. The program development is in line with the schedule: the primarily development stage has been completed; first structural parts are being manufactured. Tests on the PW812D engine are also on time: 4 engines are being tested and 120 hours were run on a flying test bench. Design shelves have been set up in Saint-Cloud and Merignac in cooperation with our industrial partners,
  • the Falcon 8X which demonstrated its long range capacity (Singapore - London in 14 hours) is still an unmatched aircraft in terms of comfort and is acknowledged for being the most silent aircraft on the market,
  • the certification of Electronical Flight Vision System operational gains of up to 100 feet for approaches in poor weather conditions with the FalconEye system for Falcon 7X, Falcon 8X, Falcon 2000LX and Falcon 2000LXS; FalconEye system certification for Falcon 900LX is in progress,
  • the new service offer for a broadband connectivity such as "FalconConnect", an integrated management solution for communications and data exchanges between aircraft and ground networks,
  • in Customer Support , Dassault Aviation was first in several categories of the Aviation International News (AIN) ranking (#1 Overall Average, #1 AOG Response, #1 Warranty Fulfillment, #1 Parts Availability, #1 Overall Aircraft Reliability, #1 Technical Reps). Besides, the Falcon Response offer which includes 2 dedicated Falcon, has performed 191 missions (1,395 flight hours),
  • the future Falcon is in progress: marketing and technical studies are ongoing,
  • the development of a high-quality customer support network, by the acquisition of service centers strengthening our footprint, in Europe, Asia-Pacific, Africa and Middle-East.

In 2018 we pursued our transformation plan "Leading Our Future".

2019 outlook
There are many strategic challenges for 2019:

  • Continue promotion and sale of our Falcon and Rafale
  • Complete FCAS studies and obtain the launch of a demonstrator for the future combat aircraft at the Paris Air Show
  • Continue the Falcon 6X development for an entry into service in 2022
  • Confirm the future Falcon launch
  • Start of the Rafale F4 standard development
  • Perform the Falcon and Rafale contracts in terms of quality, time and cost objectives
  • Participate in the response to the "Invitation To Tender" for a contract launching the MALE RPAS program
  • Continue to work on preparing the Falcon MARitime SURveillance and CUGE order with France
  • Deliver the ATL2 upgrade in 2019
  • Finalize the new Rafale France Maintenance in Operational Conditions contract
  • Increase the effectiveness of Falcon support and continue to develop a network of high-quality service centers
  • Continue the development of the "Make in India" industrial line
  • Promote our skills in space
  • Continue to implement the Transformation Plan

The Group plans to deliver 45 Falcon and 26 Export Rafale in 2019. 2019 net sales will rise significantly.

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


2018 Order intake was EUR 5,024 million, compared with EUR 3,289 million in 2017 (IFRS 15 pro forma).
Export order intake represented 80%.

Defense programs
2018 Defense orders totaled EUR 2,710 million, compared with EUR 905 million in 2017 (IFRS 15 pro forma), due in particular to the order of 12 Rafale following the coming into force of the option exercised by Qatar and the F4 Standard notification for the Rafale (firm and optional batches announced, however firm batch only recorded in 2018 order intake).

Falcon programs
2018 Falcon orders totaled EUR 2,314 million versus EUR 2,384 million in 2017 (IFRS 15 pro forma).

42 Falcon were ordered in 2018 (52 orders and cancellation of the last 10 Falcon 5X). In 2017, 38 Falcon were ordered (41 orders and 3 cancellations of Falcon 5X).


2018 net sales amounted to EUR 5,084 million, compared to EUR 4,876 million in 2017 (IFRS 15 pro forma). Export represented 78%.

Defense programs
2018 Defense net sales amounted to EUR 2,485 million, compared to EUR 1,875 million in 2017 (IFRS 15 pro forma).

Sales were impacted by the delivery of the Rafale F3-R standard to France and by the increase in the number of Rafale deliveries. 9 Rafale were delivered to Egypt and 3 Rafale to France in 2018, compared with 8 to Egypt and 1 to France in 2017. In addition, 2 Rafale Marine retrofitted to the F3 standard were delivered to France in 2018.

Falcon programs
2018 Falcon net sales amounted to EUR 2,599 million, compared to EUR 3,001 million in 2017 (IFRS 15 pro forma). Sales were impacted by the lower number of new aircraft delivered.

41 new Falcon were delivered in 2018 , (in line with our guidance of 40 Falcon deliveries), compared to 49 in 2017.

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