Dassault Aviation Sa · EURONEXT:AM
Dassault Aviation Sa — FY2024 Earnings Presentation
32 slides from Dassault Aviation Sa's earnings presentation, Mar 5, 2025
Slide 1: Press Conference March 5, 2025
PRESS CONFERENCE MARCH 5, 2025
Slide 2: Context
CONTEXT War at Europe’s doorstep, international tensions and associated economic uncertainties 2024 inflation: confirmation of the decrease that began in 2023 Political instability in France The arrival of the new President of the United States will impact Europe’s economic and defense policy 2 PRES
Slide 3: Post year end: roll-out of the first UAE Rafale
POST YEAR END: ROLL-OUT OF THE FIRST UNITED ARAB EMIRATES RAFALE 1st Rafale F4 standard for the United Arab Emirates unveiled on January 29th in Istres in the presence of the French Minister of the Armed Forces and the UAE Minister of State for Defence Affairs Produced in line with the contract sche
Slide 4: 2024 Highlights (1/2)
2024 HIGHLIGHTS (1/2) Continued success of the Rafale: 30 Export Rafale ordered in 2024 Ramp-up of Rafale production amid persistent external and internal supply chain issues Delivery of 21 Rafale and 31 Falcon, including the first Falcon 6X Net sales of EUR 6.2 billion Record backlog of EUR 43.2 bi
Slide 5: 2024 Highlights (2/2): Supply chain difficulties
2024 HIGHLIGHTS (2/2): SUPPLY CHAIN DIFFICULTIES Persistent supply chain issues disrupting aircraft production, leading to catch-up plans Dassault Aviation is responding through: • GIFAS (French Aerospace Industries Association) • its participation in investment funds dedicated to supporting the Fre
Slide 6: Activity and Programs
[ ACTIVITY AND PROGRAMS /
Slide 7: Rafale France
RAFALE FRANCE At the end of 2024, 234 ordered by France out of a total of 507 Rafale Delivery of 14 Rafale in 2024, 56 still to be delivered Continued execution work on the development contract for the F4 standard Announcement by the French Minister of the Armed Forces of the development launch of t
Slide 8: Export Rafale
EXPORT RAFALE At the end of 2024, 273 Export Rafale ordered out of a total of 507 Rafale Continued commercial success in export markets in 2024: • Indonesia: 18 Rafale in 2024, bringing the total number of Rafale ordered to 42 (new customer) • Serbia: 12 Rafale; 8th Export country and 3rd European E
Slide 9: Support of military fleets in service
SUPPORT OF MILITARY FLEETS IN SERVICE France • Performance of Operational Maintenance contracts (Ravel for the Rafale, Ocean for the ATL2, Balzac for the Mirage 2000, Alphacare for the Alpha Jet): availability targets met and participation in high- intensity engagement exercises with the Forces Expo
Slide 10: Future Combat Air System (FCAS)
FUTURE COMBAT AIR SYSTEM (FCAS) Dassault Aviation, prime contractor and architect of pillar 1, the New Generation Fighter (NGF) Continuation of work on phase 1B of the demonstrator (detailed specifications) For the NGF, phase 2 still needs to be contractualized after discussions on content and princ
Slide 11: Mission aircraft
MISSION AIRCRAFT France • ARCHANGE (Falcon 8X strategic intelligence): continuation of the development and order of the 3rd aircraft • AVSIMAR (Falcon 2000LXS maritime surveillance): 1st flight completed on January 24, 2025 Export • South Korea: delivery of the 3rd and 4th Falcon 2000 (4 “green” air
Slide 12: Falcon context
FALCON CONTEXT 26 orders compared to 23 in 2023 2024 31 deliveries compared to 26 in 2023 Delivery of the first Falcon 6X • Excellent customer feedback after commissioning Ongoing development of the Falcon 10X 12 PRESS CONFERENCE MARCH 5, 2025 Ce document est la propriété intellectuelle de Dassault
Slide 13: Falcon 6X
FALCON 6X Delivery of the first Falcon 6X Client feedback confirmed a very high level of passenger comfort More than 1,000 flight hours of the Promotional tour demonstrator, confirming good reliability 500+ flights 1,000+ flight hours 13 PRESS CONFERENCE MARCH 5, 2025 Ce document est la propriété in
Slide 14: Falcon 10X
FALCON 10X Continuation of the manufacturing of development aircraft and the mechanical test cell Rolls Royce conducted the test campaign of the Pearl 10X engine on its testbed aircraft First deliveries scheduled for the end of 2027 14 PRESS CONFERENCE MARCH 5, 2025 Ce document est la propriété inte
Slide 15: Falcon support
FALCON SUPPORT Dassault Aviation is commited to supporting the Falcon fleet in service, notably by: • The opening of the new ExecuJet MRO Services maintenance center in Asia in Kuala Lumpur (Malaysia), in March 2024 • Construction of a new service center underway in Melbourne, Florida • Support for
Slide 16: Falcon: business aviation decarbonization
FALCON: BUSINESS AVIATION DECARBONIZATION SAF (Sustainable Aviation Fuel) Decarbonization Solutions • Company plan launched in 2022. Dassault Aviation conducted • In 2024, Groupe ADP and Dassault Aviation signed a five- 752 flights in 2024 using fuel blends with ~30% SAF, resulting year protocol to
Slide 17: Business aviation and taxonomy
BUSINESS AVIATION AND TAXONOMY Business Aviation • Committed to becoming carbon neutral by 2050 • 2% of CO2 emissions from global aviation, i.e. 0.04% of global CO2 emissions Action for annulment brought to the General Court of the European Union against the Delegated Regulation providing for the ex
Slide 18: Carbon footprint
CARBON FOOTPRINT Despite the increase in Dassault Aviation’s gross energy consumption due to higher activity levels, the use of lower-carbon energy sources led to a -24% decrease in CO2 emissions in 2024 (scope 1 excluding kerosene and scope 2): • Supply of renewable energies in France and the Unite
Slide 19: Human resources – recruitment
HUMAN RESOURCES – RECRUITMENT 2,394 new hires in 2024, including 239 apprentices Dassault Aviation ranks among the Top 5 most preferred companies for engineering students across all sectors according to the 2024 Universum ranking 2025 recruitment under evaluation Training of new hires 19 PRESS CONFE
Slide 20: Main impacts of the 2025 budget and social security laws
MAIN IMPACTS OF THE 2025 BUDGET AND SOCIAL SECURITY LAWS Corporate Income Tax: the rate will increase from 25.83% in 2024 to 36.13% in 2025. This rate will be applied to the average taxable income for 2024-2025, with the full amount of CIT paid in advance in 2025 (when the 4th installment is paid) V
Slide 21: Modernization of the industrial tool
MODERNIZATION OF THE INDUSTRIAL TOOL Continuing investment effort: • Cergy: delivery at the beginning of July 2024 and completion of the transfer of production units in January 2025 • Mérignac: finalization of the multifunctional production facility and of the building for the Cergy Mérignac – Multi
Slide 22: Make in India
MAKE IN INDIA The joint venture in India, Dassault Reliance Aerospace Limited (DRAL), expands its activities • Production of sections T12 and T4 of the Falcon 2000, as well as movable elements of the Rafale • Ongoing transfer of the production of T12 sections for the Falcon 8X • Falcon 2000 final as
Slide 23: 2024 Results
2024 RESULTS
Slide 24: Order intake, net sales, backlog
ORDER INTAKE, NET SALES, BACKLOG IN EUR BILLIONS 10.9 43.2 +12% +32% 38.5 8.3 6.2 +30% 4.8 2024 2023 2024 2023 12.31.2024 12.31.2023 Order intake Net Sales Backlog 38% 11% 12% 24% 43% 21% 36% 33% 21% 62% 9% 31% 26% 67% 68% 36% 31% 31% Falcon €2.6 Bn (26 a/c) €1.7 Bn (23 a/c) €2.3 Bn (31 a/c) €1.8 Bn
Slide 25: Consolidated self-funded R&D
CONSOLIDATED SELF-FUNDED R&D IN EUR MILLIONS 25 PRESS CONFERENCE MARCH 5, 2025 Ce document est la propriété intellectuelle de Dassault Aviation. Il ne peut être utilisé, reproduit, modifié ou communiqué sans son autorisation. Dassault Aviation Proprietary Data
Slide 26: Thales
THALES Dassault Aviation has been a shareholder of Thales since 2009 and, as lead industrial shareholder, has entered into a shareholders’ agreement with the State Dassault Aviation holds 26.59% of Thales’ capital as of December 31, 2024, compared to 26.05% as of December 31, 2023; the State holds 2
Slide 27: Adjusted consolidated income statement
ADJUSTED CONSOLIDATED INCOME STATEMENT in millions euros 2024 2023 NET SALES 6,230 4,801 OPERATING INCOME 519 349 Operating margin 8.3% 7.3% FINANCIAL INCOME 208 210 THALES and other equity affiliates 515 460 TAXES -186 -133 NET INCOME 1,056 886 Net income margin 17.0% 18.5% % Self financed R&D -7.0
Slide 28: Consolidated available cash
CONSOLIDATED AVAILABLE CASH IN EUR BILLIONS The increase in cash available mainly results from advance payments received under the 8.4 Export Rafale contracts 7.3 Free cash flow: EUR +1.6 billion 12.31.2024 12.31.2023 28 PRESS CONFERENCE MARCH 5, 2025 Ce document est la propriété intellectuelle de D
Slide 29: Shareholding and voting rights
SHAREHOLDING AND VOTING RIGHTS AS OF DECEMBER 31, 2024 - PRE AND POST-CANCELLATION Shareholding structure Distribution of exercisable voting rights Pre-cancellation as of December 31, 2024 GIMD (66.11%) Free Float (22.85%) 78,595,561 shares Airbus (10.53%) GIMD (79.74%) Dassault Aviation (0.51%) 130
Slide 30: Dividends
DIVIDENDS PROPOSED DIVIDEND OF EUR 4.72 PER SHARE SUBMITTED FOR APPROVAL BY THE ANNUAL GENERAL MEETING OF MAY 16, 2025 ( ) Paid in (in respect of N-1 earnings) * 2025 2024 Dividends EUR 370 million EUR 266 million Dividend per share EUR 4.72 EUR 3.37 Pay out (% of adjusted net income) 35% 30% (*) No
Slide 31: Outlook and strategy
OUTLOOK AND STRATEGY Deliver Rafale and Falcon according to our planning Respect the deadlines and costs for military and Falcon developments Prepare for the future of the Rafale with its combat drone accompanying the F5 standard, and for the post-Rafale era with the NGF Support and availability of
Slide 32: Disclaimer
DISCLAIMER This press conference may contain forward-looking statements which represent targets and cannot be construed as forecasts regarding Dassault Aviation’s results or any other performance indicator. The actual results may differ significantly from the forward-looking statements due to variou