Daher announces its 2022 performance
Presents the company’s new 'Take off 2027' five-year strategic plan
In a complex global context, Daher has announced the 2022 results for a year marked by growth in all its activities, during which the company consolidated the positioning as a North American player and as a benchmark for innovation in its markets.
And by unveiling the new 'Take off 2027' strategic plan, Daher sets its ambition to “become a large, profitable international company developing in four complementary businesses: aircraft production, manufacturing, manufacturing services and logistics.”
2022, the year of rebound despite a difficult context
In 2022, Daher recorded sales of €1.3bn for all of its industrial and services businesses - an increase of 15.4% compared to 2021.
2022 was marked by growth across the company’s activities:
Aircraft production: 73 aircraft delivered (compared to 68 in 2021) and a record level of orders for the TBM and Kodiak families, which were boosted by the launch of two new versions during the year: the TBM 960 and the Kodiak 900;
Industry (aeronautical equipment and systems): The return to 2019 levels in air traffic resulted in an increase in production rates for aircraft manufacturers; at Daher, its activity was up by 16.3%;
Logistics and services: With Daher’s activity increasing by 10.7%, 2022 was marked by the extension of existing contracts and the pursuit of internationalization, with a new presence established in Germany and Spain, in particular. Last year was impacted by the crisis in Ukraine, the resumption of inflation, the rise in energy prices, strong tension in the job market and the persistent fragility of the aeronautical supply chain. The situation considerably complicated day-to-day operations and affected delivery times and the costs and profitability of Daher’s industrial manufacturing.
Daher CEO Didier Kayat (right) and Patrick Daher, Chairman - Board of Directors, during the company’s press conference on Tuesday, February 7th in Paris.
However, 2022 saw achievements in each of Daher’s businesses and confirmed the company’s rebound:
A change in dimension with the 'Take off' 2027 strategic plan
'Take off 2027', which is Daher's new strategic plan through 2027, sets the goal for Daher to become a large, profitable international company developing in four complementary businesses.
Priorities identified by the Daher Group for this five-year plan are the internationalization of its organization, the improvement of the structural profitability of all its businesses, along with the commitment to innovate and decarbonize.
Backed by a business model that is balanced between manufacturing and services - which has demonstrated its resilience over time, and in particular during the COVID-19 crisis - Daher also has also decided to make the "manufacturing services" a business sector in itself, alongside aircraft production, manufacturing and logistics. The result is a link between the Group's manufacturing and logistics activities. Capitalizing on its know-how, these business sectors apply the competencies of adaptability, agility and commitment for which Daher is recognized, while strengthening the Group's presence in the aeronautical value chain - and more broadly, the manufacturing value chain - along with its proximity to customers.
Five key orientations for Daher’s transformation in the 'Takeoff 2027' strategic plan
Improve the economic performance to ensure the sustainability of a company with 160 years of history, as well as strengthen its competitiveness in the service of customers while also investing in human capital and strengthening ESG (environmental, social and governance) performance.
Transform the managerial culture by moving towards a results-driven culture (based on the Daher Leadership Model) and recognition for the core values and know-how of the Group's employees;
Innovate for customers and decarbonize by envisioning the products, services and processes of tomorrow for each of its businesses; challenges that will be the focus for the three technical centers launched by Daher in 2022 (Log’in for logistics, Shap’in for aerostructures, and Fly’in for aircraft);
Integrate and develop the acquisitions, by duplicating the TBM success story for Kodiak, while launching a hybrid aircraft; by benefitting from the Stuart factory’s competence to make the assembly of aerostructures one of the pillars in Daher’s manufacturing offer; by applying the KVE Composites Group’s capabilities to secure Daher’s technological lead in composites; and by developing the manufacturing services business with AAA (Assistance Aéronautique et Aérospatiale) after this acquisition is approved by the competent authorities.
Make visible and known, by further highlighting the robustness offered by the complementarity between its manufacturing and services activities, and the sustainability of its family business model since 1863.
“Our ‘Take off 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,” said Daher CEO Didier Kayat.
“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 euros in revenue during the timeframe of our new strategic plan."
BlueSky Business Aviation News | 9th February 2023 | Issue #688