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Wed, Apr 03, 2013

Pilatus Reports Positive Results In 2012

Company Says 'Major Orders' Position It Well For The Future

Pilatus Aircraft Ltd has released a report showing positive annual results for 2012, despite turnover and operating profit decreasing as expected compared with the previous year. The company says that three major orders received totalling over 2.2 billion Swiss francs (about $2.3 billion), Pilatus says it is well-prepared for the future. In the past year alone, the number of employees at the headquarters in Stans grew by 10 percent to 1433.

In 2012, Pilatus achieved a gross turnover of $593 million and an operating profit (EBIT) of $40 million. At nearly $72 million, investment in research and development was higher than ever. Order intake increased to total $2.85 billion, including three major orders from India (75 PC-7 MkII), Saudi Arabia (55 PC-21) and Qatar (24 PC-21). The level of orders in 2012 was greater than that of the previous four years combined, making it the largest in Pilatus‘s history. Current orders will secure enough work for Pilatus over the next four years.

In addition to these major orders, the military training aircraft sector also saw two projects, for the UAE and Botswana, successfully delivered. In general, military business for Pilatus is experiencing very positive growth and is currently the mainstay of the company.

In total, 62 PC-12 NGs were delivered during the reporting year, one aircraft less than the previous year. Although the PC-12 NG aircraft has maintained its market share with sales even growing marginally in some regions, the general aviation market has however yet to recover overall following the economic crisis. The expected economic upturn has so far had little impact in North America in particular, the most important market for the PC-12 NG. Nevertheless, the company was pleased with the order placed by the U.S. Air Force for a fleet of over 18 PC-12 Spectres, which will be delivered over the next two years.

The PC-24 project – the new business jet by Pilatus – is making good progress. Last year, the Board of Directors gave the definite green light to the biggest, fastest and most complex aircraft that Pilatus has ever built. On 21st May this year, the aircraft will be presented to the general public at the European Business Aviation Convention & Exhibition (EBACE) in Geneva.

While many Swiss companies were still having to cut jobs in 2012, Pilatus said in its report that the orders it received means the company is in a position to create jobs. The number of employees at the headquarters in Stans increased during the reporting year from 1302 to 1433 employees, representing a jump of ten percent. In total, 91 percent of its employees worldwide are therefore employed in Switzerland. The company says it will continue to search for suitable employees continue in 2013. At the end of the year, there were also 102 apprentices across ten different professions acquiring valuable skills at Pilatus.

Markus Bucher was appointed the new CEO in November last year. He has been running the operational side of the company since January 1. Oscar J. Schwenk, Chairman of Pilatus Aircraft Ltd said he is proud of the annual figures which Pilatus achieved in 2012. "While turnover and EBIT are lower than previous years, they are still very impressive thanks to advance efforts for 2013," Schwent said. "With India and Qatar, we have gained two new prestigious customers. After 25 years of using PC-9, Saudi Arabia has also opted for our latest, state-of-the-art PC-21 training system. The order reflects our customers’ general confidence in Pilatus and our products and services, and it is good to see that all these great nations choose an aircraft from Switzerland. The contracts won last year mean we can secure our company site and accompanying jobs based in Switzerland over the next few years.

"We have the best know-how and aircraft in the industry and are confident that we will soar to greater heights with our new innovative aircraft, the PC-24. My thanks go to the staff and the entire Board of Directors who back my various decisions and strategic steps to boost not only Pilatus but, in turn, also Swiss industry. Here in the Swiss town of Stans, we create genuine Swiss products that are successful around the world – just as we did in the past and will continue to do so now and in the future.”

(Images provided by Pilatus)

FMI: www.pilatus.com

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