Dassault Recovers in 2021, but War Weighs on 2022 Growth

 - March 4, 2022, 11:23 AM
Dassault chairman and CEO Eric Trappier said 2021 was a recovery year for the company, but warned that the Russia-Ukraine war and supply chain issues could hamper growth this year. (Photo: Dassault Aviation/C Cosmo)

Dassault Aviation today reported strong 2021 results, signaling a recovery from the pandemic, but the French aerospace group warned that performance this year could be dampened by the Russia-Ukraine war and strains on supply chains, particularly of raw materials such as titanium sourced from now heavily sanctioned Russia. The company’s revenues last year climbed to €7.23 billion ($8.1 billion) from €5.49 billion the previous year, while earnings more than doubled, to €527 million.

Eric Trappier, Dassault’s chairman and CEO, described 2021 as “an exceptional year,” with order intake totaling €12.1 billion, up from €3.46 billion in 2020. That backlog includes previously reported orders for 51 Falcon business jets—versus 15 in 2020—and 49 Rafale fighters. 

The group expects to deliver 35 Falcons and 13 Rafales this year, compared with 30 Falcon shipments—five more aircraft than initially expected—and 25 Rafales in 2021.

Trappier told AIN that the war in Ukraine would affect the company’s business jet division. “We will face it, but it is not good news,” he said, stressing the company will strictly follow the sanctions—including export bans on aircraft and equipment—as defined by the European Union and other countries. He said he hoped to compensate the likely loss of orders to Russia and Russian oligarchs with new orders from other customers resulting from the business jet market recovery.