Dassault Aviation’s 2023 Financial Results: A Detailed Analysis
Yesterday, Dassault Aviation, a leading French aircraft manufacturer, announced its financial results for the year 2023. The company reported a total order intake of EUR 10,869 million, a significant increase compared to the EUR 8,253 million recorded in 2022. Let’s delve deeper into the financial data and analyze the key figures.
Order Intake and Sales
The order intake for 2023 was driven mainly by the Rafale fighter jet and the Falcon business jets. The Rafale program accounted for EUR 8,253 million of the total order intake, with 26 units sold, out of which 42 were for the French military and 18 for exports. The Falcon business jets contributed EUR 2,616 million to the order intake, with 31 units sold.
- Rafale: EUR 8,253 million, 26 units
- Falcon: EUR 2,616 million, 31 units
Net Sales
The adjusted net sales for 2023 amounted to EUR 6,240 million, an increase from the EUR 4,805 million reported in 2022. The Rafale program accounted for EUR 4,801 million of the total net sales, with 23 units delivered, out of which 11 were for the French military and 2 were for exports. The Falcon business jets contributed EUR 1,439 million to the net sales, with 79 units delivered.
- Rafale: EUR 4,801 million, 23 units
- Falcon: EUR 1,439 million, 79 units
Backlog
As of December 31, 2023, Dassault Aviation had a backlog of EUR 43,224 million, an increase from the EUR 38,508 million reported at the end of 2022. The Rafale program accounted for EUR 31,220 million of the total backlog, with 220 units ordered, out of which 164 were for exports and 56 were for the French military. The Falcon business jets contributed EUR 12,004 million to the backlog, with 111 units ordered.
- Rafale: EUR 31,220 million, 220 units
- Falcon: EUR 12,004 million, 111 units
Operating Income and Margin
The adjusted operating income for 2023 was EUR 519 million, with an adjusted operating margin of 8.3%, compared to the EUR 349 million and 7.3% reported in 2022. Self-funded Research and Development expenses amounted to EUR 437 million, representing 7.0% of net sales, and EUR 483 million, representing 10.1% of net sales, respectively.
Net Income and Margin
The adjusted net income for 2023 was EUR 924 million, with an adjusted net margin of 14.6%, compared to the EUR 693 million and 14.4% reported in 2022. Earnings per share were EUR 1,056 million, or EUR 17.0 per share, and EUR 886 million, or EUR 13.5 per share, respectively.
Cash and Dividends
As of December 31, 2023, Dassault Aviation had available cash of EUR 8,434 million, an increase from the EUR 7,294 million reported at the end of 2022. The company paid dividends of EUR 370 million, or EUR 4.72 per share, and EUR 266 million, or EUR 3.37 per share, respectively.
Impact on Individuals and the World
The strong financial performance of Dassault Aviation in 2023 is a positive sign for the company and its stakeholders. The increased order intake, sales, and backlog indicate a healthy demand for the Rafale fighter jet and Falcon business jets. This, in turn, could lead to job creation and economic growth in France and other countries where Dassault Aviation operates. Furthermore, the company’s continued investment in research and development is essential for the development of new technologies and products.
Conclusion
In summary, Dassault Aviation’s financial results for 2023 demonstrate the company’s continued success in the global aerospace industry. The strong demand for the Rafale fighter jet and Falcon business jets, as well as the company’s investment in research and development, position Dassault Aviation well for future growth. The positive impact on employment and economic growth, both in France and globally, underscores the importance of the aerospace industry as a driver of innovation and prosperity.
For individuals, the strong financial performance of Dassault Aviation could translate into job opportunities and potential investment returns. For the world, the continued innovation and growth in the aerospace industry could lead to advancements in transportation, defense, and other fields, ultimately improving people’s lives and driving economic growth.
