Airbus 2015 Annual Report Download - page 80

AIRBUS GROUP REGISTRATION DOCUMENT 2015 l 48 l
Informationon GroupActivities
1.1 Presentation of the Group
1.1.6 Investments
Dassault Aviation
As of 31December 2015, AirbusGroup held 23.60% of Dassault
Aviation’s share capital (and 24.71% of associated voting rights),
with Groupe Industriel Marcel Dassault holding a 56.11% stake,
Dassault Aviation holding a 4.49% stake, and a free float of
15.8%. In 2015, the Company sold 1.73million shares or 18.75%
in Dassault Aviation through a book-built offering to institutional
investors for a total of approximately € 1.76billion and bringing
AirbusGroup’s holding in Dassault Aviation from 42.11% as of
31December 2014 to around 23.36% then. Dassault Aviation
itself held a 24.90% stake in Thales as of 31December 2015,
which makes it the second largest shareholder of Thales behind
the French state.
Dassault Aviation is active in the market for military jet aircraft
and business jets. Founded in 1936, Dassault Aviation has
delivered more than 8,000military and civil aircraft to purchasers
in more than 80countries. On the basis of its experience as
designer and industrial architect of complex systems, Dassault
Aviation designs, develops and produces a wide range of
military aircraft and business jets. In order to avoid any potential
conflict between the military products of Dassault Aviation and
the Group (Rafale and Eurofighter) and to facilitate a “Chinese
wall” approach, the Company’s Dassault Aviation shareholding
is managed by AirbusGroup Corporate, whereas the Eurofighter
programme is managed by Airbus Defence andSpace.
In 2015, Dassault Aviation recorded orders totalling € 9.88billion
(compared to € 4.64billion in 2014), including 45 net orders
for Falcon business jets (compared to 90 net orders in 2014).
Consolidated revenues amounted to € 4,176billion in 2015
(compared to € 3.68billion in 2014), with adjusted net income
of € 482million (compared to € 398million in 2014). Dassault
has approximately 12,000employees, of which more than 75%
are based in France.
Military Jet Aircraft
Dassault Aviation offers wide expertise in the design and
manufacturing of the latest generation military jet aircraft.
Rafale. The Rafale is a twin-engine, omni-role combat aircraft
developed for both airforce and navy applications. To date,
286Rafale aircraft have been ordered by the French MoD.
In 2012, Rafale was selected by the Indian MoD to enter into
exclusive negotiations for the sale of 126aircraft. Negotiations
are still in progress. From 2013 and onwards, the new Rafale
“Omnirole” will be delivered, with improvements such as the
RBE2-AESA radar, missile launch detector and optronics.
Mirage 2000. The Mirage 2000 family reached the end
of its production phase in 2006. Approximately 470 Mirage
2000aircraft are in service with nine air forces worldwide.
nEUROn. Dassault Aviation is the prime contractor for the
development of the unmanned combat air vehicle demonstrator,
nEUROn. The programme was open to European cooperation
and five countries have decided to participate and share
the skills of their aerospace industries: EADSCASA (Spain),
SAAB (Sweden), HAI (Greece), RUAG (Switzerland) and Alenia
Aermacchi (Italy). The nEUROn demonstrator made its first flight
in 2012 and has been performing several test flights in France
since then.
FCAS (Future Combat Air System). In 2014, Dassault Aviation,
BAE Systems and their industrial partners have been awarded
a € 150m contract by the French and UK governments for a
two year co-operative FACS feasibility phase study. The joint
study is to be supplemented with additional French and UK
national funding to the combined value of € 100m in the same
period. Following the completion of the study at the end of
2016, work could then commence on a UCAS demonstration
development programme that addresses both nations’ future
military requirements.
Business Jets
Dassault Aviation offers a wide range of products at the top end
of the business jet sector. The family of Falcon business jets
currently includes the Falcon7X, the 900LX and the 2000LX
& S. In-service Falcons currently operate in over 65countries
worldwide, filling corporate, VIP and government transportation
roles. At the end of December2014, Dassault revealed the
Falcon 8X which made its maiden flight on February6, 2015.
Since the rollout of the first Falcon 20 in 1963, over 2,250 Falcon
jets have been delivered.
Financial Statements 2015
11 22 33 44 55
QRegistration Document 2015
Annual Report 2015 Financial Statements 2015