(Boursier.com) — Dassault Aviation returned to 177 euros this Monday on the Paris stock exchange, down 0.7%, while among the latest analyst opinions, Berenberg nevertheless raised the target from 185 to 195 euros with an opinion to ‘keep’. Previously, SG had also raised its target to 211 euros with a buy rating, while Goldman Sachs had already revalued the file from 191 to 198 euros. In an international context still marked by the war in Ukraine and global geopolitical instability, the group published an adjusted consolidated turnover for the first half of €2.295 billion. The share of turnover from exports stood at 71%. “The rebound in growth observed in 2022, following the Covid period, began to slow down during the last quarter of 2022, a slowdown which continued in the first half of this year,” explained management. The consolidated order book as of June 30 was €34.417 billion, compared to €35 billion as of December 31, 2022.
The consolidated net profit for the 1st half is 362 ME (272 ME in the 1st half of 2022). The contribution of Thales in the Group’s net income stood at 161 ME (139 ME in H1 2022). The consolidated net margin thus stood at 15.7% in the first half (8.7% in H1 2022). The consolidated net income per share for the 1st half stood at 4.40 euros, compared to 3.26 euros in the 1st half of 2022…
Increase in stocks
The group’s available cash now amounts to €7.682 billion as of June 30, compared to €9.529 billion as of December 31, 2022.. This decrease is mainly explained by an increase in stocks and work in progress and by the reduction in deposits received on orders net of deposits paid. Total equity stood at €5.761 billion as of June 30, compared to €6 billion as of December 31, 2022.
“In a difficult context with the ‘supply chain’, our 2023 objectives remain unchanged: we anticipate the delivery of 15 Rafale and 35 Falcon (including Falcon 6X) and a decrease in turnover compared to last year “, indicated Eric Trappier, Chairman and CEO of Dassault Aviation.
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