Dassault reports net profit spike in first half of 2018 thanks to Mideast deals

PARIS — French fighter manufacturer Dassault Aviation has reported a rise in net profit from the first half of 2018 to €186 million (U.S. $216 million), from €166 million a year ago.

That net profit was 10.9 percent of sales, which slipped to €1.7 billion from €2.1 billion, the company announced July 19.

Dassault has replied to India’s request for information for 57 fighters for the present and future aircraft carriers of the Indian Navy, and also replied to an RFI for a further 110 fighters for the Indian Air Force, Dassault Chairman and CEO Eric Trappier said at the news conference about the financial results.

Operating profit fell to €111 million from €121 million, with the former rising to 6.5 percent of sales from 5.9 percent.

Orders rose to €2.8 billion from €1.4 billion, boosted by Qatar exercising an option to order a further 12 Rafale fighter jets, adding to a previous order of 24 units.

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The order book rose to €20.5 billion from €19.1 billion. Exports of the Rafale accounted for the bulk of the order book, with €15.1 billion arising from sales to Egypt, Qatar and India.

Cash holdings rose to €5 billion from €4 billion, and was boosted by Qatar providing the down payment for its new Rafale order.

The company forecast 2018 sales similar to that of last year and expects to deliver 12 Rafales this year.

Also at the news conference, Trappier welcomed Britain’s plan to build the Tempest fighter jet, the planned successor to the Eurofighter Typhoon.

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