Dassault Aviation S.A.

Dassault Aviation is a player in the civil and military aviation industry. Co. designs, manufactures and sells combat aircraft under the names Rafale, Mirage 2000, nEUROn and executive jets under the name Falcon (Falcon 7X, Falcon 900LX, Falcon 2000LX) and business jets. Co. produces combat aircraft. Rafale is a fighter aircraft with a "delta-canard" configuration. Mirage 2000 is a combat aircraft operated in environments ranging from deserts to tropical forests. nEUROn is an unmanned combat aircraft vehicle demonstrator. Falcon is used for passenger transportation by entrepreneurs, executives of companies and governments. Co. also offers maintenance services, follow up and repair services.
  • TickerAM
  • ISINFR0000121725
  • ExchangeEuronext Paris
  • SectorAerospace & Defense
  • CountryFrance

Analysts

With a more favourable environment, DASSAULT AVIATION improves to Slightly Positive

DASSAULT AVIATION (FR), a company active in the Aerospace industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 4 out of 4 stars, as well as its unchanged, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date September 10, 2019, the closing price was EUR 1,361.00 and its potential was estimated at EUR 1,429.05.

Ahmed Ben Salem ...
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Christophe-Raphaël Ganet
  • François Maury
  • Geoffroy Michalet
  • Georges Dieng
  • Jean-Baptiste Rouphael
  • Louis Boujard
  • Olfa Taamallah
  • Philippe Ourpatian
  • Pierre Tegner
  • Roland Pfaender
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 09/05/2019

...

Ahmed Ben Salem ...
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Christophe-Raphaël Ganet
  • François Maury
  • Geoffroy Michalet
  • Georges Dieng
  • Jean-Baptiste Rouphael
  • Louis Boujard
  • Olfa Taamallah
  • Philippe Ourpatian
  • Pierre Tegner
  • Roland Pfaender
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 05/09/2019

...

Antoine Boivin-Champeaux ...
  • Yan Derocles

Dassault Aviation : The business jet market wakes up

>H1 driven by higher-than-anticipated volumes in the military sector - A first glance H1 2019 results might prove misleading. Operating profit largely beat our forecast at € 250m (+125%) for sales of € 3,058m, up 79%, i.e. a margin of 8.2% (+168bp). However, this difference was primarily due to the booking to sales of a development contract in ATL2 (around € 0.4bn est.) as of H1 whilst we had anticipated it for H2, as well as the delivery of 10 Rafale to Qatar vs 8 an...

Antoine Boivin-Champeaux ...
  • Yan Derocles

Dassault Aviation : Le réveil du marché de l’aviation d’affaires

>Un S1 porté par des volumes militaires supérieurs aux attentes - La simple lecture des résultats du S1 2019 peut s’avérer trompeuse. Le résultat opérationnel ressort en effet largement au-delà de nos attentes à 250 M€ (+125%) pour des ventes de 3 058 M€ en progression de 79%, soit une marge de 8.2% (+168 pb). Mais l’écart s’explique essentiellement par la reconnaissance du CA du contrat de développement de l’ATL2 (c0.4 Md€e) dès le S1 alors que nous l’anticipions uni...

Ahmed Ben Salem ...
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Christophe-Raphaël Ganet
  • François Maury
  • Geoffroy Michalet
  • Georges Dieng
  • Jean-Baptiste Rouphael
  • Louis Boujard
  • Olfa Taamallah
  • Philippe Ourpatian
  • Pierre Tegner
  • Roland Pfaender
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 09/05/2019

...

Ahmed Ben Salem ...
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Christophe-Raphaël Ganet
  • François Maury
  • Geoffroy Michalet
  • Georges Dieng
  • Jean-Baptiste Rouphael
  • Louis Boujard
  • Olfa Taamallah
  • Philippe Ourpatian
  • Pierre Tegner
  • Roland Pfaender
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 05/09/2019

...

Antoine Boivin-Champeaux ...
  • Yan Derocles

Dassault Aviation : The business jet market wakes up

>H1 driven by higher-than-anticipated volumes in the military sector - A first glance H1 2019 results might prove misleading. Operating profit largely beat our forecast at € 250m (+125%) for sales of € 3,058m, up 79%, i.e. a margin of 8.2% (+168bp). However, this difference was primarily due to the booking to sales of a development contract in ATL2 (around € 0.4bn est.) as of H1 whilst we had anticipated it for H2, as well as the delivery of 10 Rafale to Qatar vs 8 an...

Antoine Boivin-Champeaux ...
  • Yan Derocles

Dassault Aviation : Le réveil du marché de l’aviation d’affaires

>Un S1 porté par des volumes militaires supérieurs aux attentes - La simple lecture des résultats du S1 2019 peut s’avérer trompeuse. Le résultat opérationnel ressort en effet largement au-delà de nos attentes à 250 M€ (+125%) pour des ventes de 3 058 M€ en progression de 79%, soit une marge de 8.2% (+168 pb). Mais l’écart s’explique essentiellement par la reconnaissance du CA du contrat de développement de l’ATL2 (c0.4 Md€e) dès le S1 alors que nous l’anticipions uni...

Denise Molina

Morningstar | AM Updated Forecasts and Estimates from 24 Jun 2019

Due to leading positions in military jets, Dassault Aviation will benefit from both an improved outlook in mature defence markets and sales opportunities in emerging markets. Dassault, controlled by the Dassault Family with 73% of voting rights, is the leading manufacturer of the Rafale fighter jet with 60% of the equipment value on the aircraft. Other Rafale industrial participants are Thales, with 25% of the aircraft’s value, and Safran. France promotes Dassault as the national champion in fighter aircraft and unmanned aerial systems. As the dominant fighter jet player in the French domestic...

A director bought 25 shares at 1,247.123EUR and

A director at Dassault Aviation bought 25 shares at 1,247.123EUR and the significance rating of the trade was 53/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The name...

Antoine Boivin-Champeaux ...
  • Florent Laroche-Joubert
  • Stephane Houri
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 06/11/2019

Following our ODDO BHF Nextcap Forum, 44 French and German companies met close to 100 investors in Paris. In the complex small caps market (outflows, limited liquidity, persistently high valuations) and in a more uncertain macroeconomic environment, selectivity is paramount and a number of opportunities are taking shape. We compile 35 feedback articles in the present document, which give rise to six target price revisions: i/ three upward (Esker, ECA, Groupe Gorge), and ii/ three down...

Antoine Boivin-Champeaux ...
  • Johanna Jourdain
  • Martial Descoutures
  • Matthias Desmarais
  • Pierre Corby
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 06/11/2019

...

Antoine Boivin-Champeaux ...
  • Florent Laroche-Joubert
  • Stephane Houri
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 11/06/2019

A l’issue de notre conférence ODDO BHF Nextcap, 44 sociétés françaises et allemandes ont rencontré près de 100 investisseurs à Paris. Dans un marché des Small caps complexe (décollecte, liquidité limitée, valorisations encore élevées) et dans un environnement macroéconomique plus incertain, la sélectivité est primordiale et quelques opportunités se dessinent. Nous compilons dans ce document 35 feedbacks, qui donnent lieu à 6 révisions d’objectifs de cours : i/ 3 à la hausse (Esker, EC...

Antoine Boivin-Champeaux ...
  • Johanna Jourdain
  • Martial Descoutures
  • Matthias Desmarais
  • Pierre Corby
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 11/06/2019

...

Antoine Boivin-Champeaux ...
  • Charles Lepetitpas
  • Geoffroy Michalet
  • Jean Sassus
  • Jean-François Granjon
  • Louis Boujard
  • Nicolas David
  • Philippe Ourpatian
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 21/05/2019

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With a more favourable environment, DASSAULT AVIATION improves to Slightly Positive

DASSAULT AVIATION (FR), a company active in the Aerospace industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 4 out of 4 stars, as well as its unchanged, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date September 10, 2019, the closing price was EUR 1,361.00 and its potential was estimated at EUR 1,429.05.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

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Summary United Aircraft Corporation - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights United Aircraft Corp (UAC) designs, and manufactures military, civilian, transport and unmanned aircraft. UAC provides maintenance, upgrade, repair and utilization services for civil and military aircraft. It manufactures long haul, medium haul and short haul civil aircraft under...

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Embraer SA - Strategy, SWOT and Corporate Finance Report Summary Embraer SA - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights Embraer SA (Embraer) is a manufacturer of aircraft and allied systems. The company designs, develops, manufactures and markets commercial, executive, defense and agriculture aircraft. It produces jets, executive jets in the entry-level, li...

Florian Béchaz

Dassault Aviation - Assemblée générale des actionnaires du 16 mai 2019

Nous tenons à attirer l'attention des actionnaires sur plusieurs manquements de la part de la société : La structure des rémunérations respectivement attribuées, au titre de 2018, à Eric Trappier et Loïk Segalen présente un déséquilibre : rémunération fixe élevée, variable annuel inexistant et absence d'un réel composant long-terme. La politique de rémunération établie pour 2019 ne présente pourtant aucune amélioration. En termes de gouvernance, à seulement 33%, le Conseil n'est pas majoritairement indépendant. Nous ne soutenons pas le renouvellement d’Olivier Dassault ni celui d’Éric Trappi...

Expert Corporate Governance Service (ECGS)

Dassault Aviation - AGM and EGM 16 May 2019

ECGS draws shareholders attention to several breaches: The structure of the remunerations granted in 2018 to Eric Trappier and Loïk Segalen is unbalanced. The annual base salary is too high, there is no annual variable remuneration and an absence of real long-term incentives. Furthermore, there is no improvement regarding the proposed remuneration policy for 2019.  Concerning the Company’s Corporate Governance, there is a lack of independent members on board (33%). Therefore, we will not support the re-elections of Olivier Dassault and Eric Trappier.

Dassault Aviation – Proxinvest Corporate Governance Rating ® : D

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Valérie GASTALDY

Short term view - DASSAULT AVIATION : The background trend is clearly bearish.

The background trend is clearly bearish. The negative MACD confirms the trend. The rise is a consolidation that will soon bump against the level at €1,525.00. The next target is at €1,360.50, then €1,270.17. Passing €1,640.00 would question the continuation of the fall.

Valérie GASTALDY

Analyse court terme - DASSAULT AVIATION : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Le MACD est négatif, il confirme cette tendance. La reprise est une consolidation qui va buter sur 1 525,00 € prochainement. Le prochain objectif est à 1 360,50 €, puis 1 270,17 €. Le franchissement de 1 640,00 € remettrait en cause la suite de la baisse.

Valérie GASTALDY

Analyse court terme - DASSAULT AVIATION : Les prix baissent.

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 1 360,50 €. La tendance de fond serait remise en cause en cas de franchissement de 1 640,00 €.

Valérie GASTALDY

Short term view - DASSAULT AVIATION : Falling prices.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at €1,360.50. The background trend would be questioned should prices rise above €1,640.00.

Valérie GASTALDY

Analyse moyen terme - DASSAULT AVIATION : La tendance est haussière.

La tendance est haussière. La baisse récente gagne en vigueur. Le prochain support est à 1 362,31 €. La tendance serait remise en cause par la rupture de 1 362,31 €.

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