Dassault reports on first half of 2025

Dassault Aviation's Board of Directors, which met today, under the chairmanship of mr. Eric Trappier approved the 2025 half-year financial statement.

At the end of the meeting, Eric Trappier said:

"The commercial success of the Rafale was strengthened with the signing and entry into force in the 1st half of India's acquisition contract of 26 Rafale Marine to equip the Indian Navy. India will be the first user outside France of the Rafale Marine. Since the beginning of the program, 533 Rafale have been ordered, including 323 for export.

"The backlog set a new record on June 30, 2025, at EUR 48.3 billion (including 314 aircraft: 186 Rafale Export, 53 Rafale France, and 75 Falcon).

"Net sales for the 1st half of 2025 was EUR 2.8 billion, up 12% compared with the 1st half of 2024. 7 Rafale (4 Rafale Export and 3 Rafale France) and 12 Falcon were delivered. Operating income increased by 6% compared with the 1st half of 2024, to EUR 180 million. Net income for the 1st half of 2025 was EUR 386 million, down by EUR 56 million, compared with the 1st half of 2024. This net income includes the tax surcharge in France of EUR 67 million.

"Military and budgetary contexts create uncertainty for business activity and results.

"Regarding the tariffs, Dassault Aviation is awaiting the final outcome of negotiations between the United States and Europe, the result of which could impact our Falcon activity.

"This 1st half of 2025 saw:
- the delivery of 7 Rafale (4 Rafale Export and 3 Rafale France) and 12 Falcon,
- the signing on April 28, 2025, and the entry into force on May 7, 2025, of India's acquisition contract of 26 Rafale Marine to equip the Indian Navy,
- the order for 8 Falcon,
- the continuation of development work of the Rafale and the F5 standard risk clearance notification,
- in the context of the 'Make in India', Dassault Aviation, through the joint venture DRAL, set up the 1st final assembly line for the Falcon 2000 outside of France.

"The 55th Paris Air Show once again demonstrated its ability to bring together the aerospace sector, with a record attendance rate (more than 300 000 visitors). It was an opportunity for meetings and discussions with institutions, foreign delegations, Falcon clients and partners. The popularity of our aircraft was illustrated by the success of the Rafale and Falcon 6X flight demonstrations. The Rafale and the UCAS were the stars of the static displays, enhanced by the Battle Lab presentation on future challenges of collaborative combat. The Space Hub was also in the spotlight, with the presentation of the VORTEX space aircraft. 'L'Avion des Metiers' was very active, allowing visitors to learn about various jobs and training in the aerospace and defense sectors.

"The 2025 guidance is unchanged: an increase in 2025 net sales compared with 2024, in the range of EUR 6.5 billion (including the delivery of 40 Falcon and 25 Rafale).

"This 2025 guidance does not take into account U.S. tariffs and potential European countermeasures."

Orders            2025H1  2024H1  2023H1  2022H1  2021H1
Rafale France          -       -       -       -       ?
Rafale Export         26      18       -      86      13
Falcon                 8      11      12      41       ?

Deliveries        2025H1  2024H1  2023H1  2022H1  2021H1
Rafale France          3       6       2       -       ?
Rafale Export          4       -       2       7       ?
Falcon                12      12       9      14       6