Modest Recovery for Dassault’s Falcon Business-Jet Sales in First Half, but Shares Fairly Valued
Narrow-moat Dassault Aviation reported good first-half sales of EUR 2 billion, up 23.3% on a reported basis versus the year-ago period, demonstrating the business' underlying strength. Revenue was in line with our expectations and marked a welcome, albeit modest, improvement in Falcon sales (17 deliveries in first-half 2017 versus 15 deliveries in first-half 2016). We were also happy with the modest recovery in business-jet sales (order intake in the first half increased to 14 Falcon jets, versu...Dassault Aviation is a player in the civil and military aviation industry. Co. designs, manufactures and sells combat aircraft under the names Rafale, Mirage 2000, nEUROn and executive jets under the name Falcon (Falcon 7X, Falcon 900LX, Falcon 2000LX) and business jets. Co. produces combat aircraft. Rafale is a fighter aircraft with a "delta-canard" configuration. Mirage 2000 is a combat aircraft operated in environments ranging from deserts to tropical forests. nEUROn is an unmanned combat aircraft vehicle demonstrator. Falcon is used for passenger transportation by entrepreneurs, executives of companies and governments. Co. also offers maintenance services, follow up and repair services.
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