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Tue, Feb 14, 2023

Daher Announces 2022 Performance Update

French Conglomerate Presents Takeoff 2027 Five-Year Plan

Daher has announced its 2022 financial performance and unveiled its Takeoff 2027 five-year strategic plan—a sweeping initiative by which the company asserts its ambition to “become a large, profitable international company developing in four complementary businesses: aircraft production, manufacturing, manufacturing services, and logistics.”

In 2022, across the entirety of its industrial and services businesses, Daher recorded sales of €1.3-billion ($1,394,250,000)—an increase of 15.4% over 2021.

The company delivered 73 aircraft, five more than 2021’s total of 68, and logged record orders for its TBM and Kodiak single-engine turboprop families. Sales were boosted by the positive reception and resultant strong interest in the swift and stylish TBM 960 and the backcountry and STOL-capable Kodiak 900.

Daher’s year-to-year activity rose by 16.3% in 2022, driven in-part by an increase in aircraft manufacturer production rates occasioned by a fortuitous return to 2019 global air-traffic volumes.

Activity in Daher’s logistics and services divisions increased by 10.7% in 2022—a metric evincing the extension of extant contracts and the company’s pursuit of internationalization—in particular, new presences in Germany and Spain.

Daher’s day-to-day operations, delivery times, and the costs and profitability of the company’s industrial manufacturing operations were adversely impacted by the Russo-Ukrainian conflict, as well as the inflation, high energy prices, job-market uncertainty, and persistent supply-chain fragility by which 2022 was characterized.

The departed year did, however, see Daher launch two new aircraft: the TBM 960 and Kodiak 900. What’s more, the company acquired a metallic and composite aerostructures assembly facility in Stuart, Florida; and commenced operations of its Log’in technical center for logistics innovation in Toulouse, France.

By dint of its Takeoff 2027 strategic plan, Daher sets itself the goals internationalizing its interests, improving the structural profitability of all Daher businesses, and committing to innovation and decarbonization.  

Backed by a time-proven business model that balances manufacturing and services, Daher has determined to amalgamate "manufacturing services" into a discrete business sector complementing aircraft production, manufacturing, and logistics. In so doing, Daher establishes a link between its manufacturing and logistics enterprises. By leveraging its experience and expertise, Daher will ensure the whole of its companies not only embody the adaptability, agility and commitment for which the brand is recognized, but strengthen Daher’s presence in the aeronautical value chain—and more broadly, the manufacturing value chain.

Daher’s Takeoff 2027 strategic plan addresses the imperatives of ensuring sustainability; strengthening competitiveness in service of the company’s customers; investing in human capital; and optimizing Environmental, Social, and Governance (ESG) performance.

Takeoff 2027 also calls for the transformation of Daher’s managerial culture via companywide movement towards a results-driven model and recognition of employees’ expertise and core values. Additionally, Daher aspires to integrate and develop its recent acquisitions. Specifically, the company seeks to launch a hybrid-powertrain aircraft; utilize its Stuart, Florida facility to establish the assembly of aerostructures among Daher’s manufacturing offerings; apply KVE Composites Group’s capabilities to securing Daher’s technological lead in composites manufacturing; and to develop its manufacturing services business with AAA (Assistance Aéronautique et Aérospatiale)—once Daher’s acquisition of the latter concern is approved by the appropriate authorities.

Daher CEO Didier Kayat stated: “Our Takeoff 2027 plan will accelerate and consolidate the momentum initiated in 2022. We want to assert ourselves as a key player in the aeronautics industry of tomorrow and will do everything possible to provide answers to its major challenges.” Mr. Kayat added: “We are putting ourselves in battle order to succeed in a major transformation of the company and develop all the synergies—human, technical, and technological, as well as geographical—which will make Daher a large, profitable international company for the benefit of our customers, employees, and shareholders. In an environment that remains complex, all of these elements—and in particular, the acquisition of AAA—confirm our growth prospects in 2023 at a level comparable to that of 2022, with the ambition of reaching €2-billion in revenue during the timeframe of our new strategic plan."

FMI: www.daher.com

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