Dassault Aviation Raises Revenue Forecast for 2025
The French aerospace manufacturer announced on January 7 that it now anticipates its 2025 revenue to exceed 7 billion euros, according to a statement released late in the day.
The group delivered 26 Rafale fighter jets in 2025, including 15 for export and 11 to France, slightly exceeding the initial forecast of 25 aircraft. This volume represents an increase compared to the 21 Rafales sold in 2024, with 14 for the French forces and 7 for foreign clients. In the business jet segment, 37 Falcons were delivered to customers, a figure slightly below the target of 40 units set at the beginning of the year. However, this number is still an increase from the 31 Falcons delivered in the previous year, the statement indicates.
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The manufacturer recorded 26 orders for Rafale jets intended for export in 2025, down from 30 the previous year. As of December 31, 2025, the total order book showed 220 Rafales, with 175 for export and 45 for France. This level remains the same as at the end of 2024, although the distribution has changed from 164 aircraft for export and 56 for France at that time. On the business jet side, 31 Falcons were ordered during the past year, an increase from the 26 orders in 2024. The Falcon order book stands at 73 units at the end of December 2025, down from 79 a year earlier, according to data provided by the group.
Upcoming Financial Results Announcement
Dassault Aviation will publish its complete annual results on March 4, 2026, including the definitive euro amount of revenue as well as order intake and the order book. These figures, which remain unaudited by the auditors at this stage, will provide a detailed appreciation of the aircraft manufacturer's financial performance. As a reminder, the group achieved a revenue of 6.2 billion euros in 2024, with a workforce of 14,600 employees. Dassault Aviation operates in two main segments: the Rafale combat aircraft and the Falcon business jets, supplemented by activities in military drones and space systems.
Le Rafale a confirmé son succès en 2025, avec la livraison du 300 ème Rafale et la commande de 26 Rafale par la Marine indienne.
Dassault Aviation présente des résultats 2025 conformes à l’évolution attendue: chiffre d’affaires consolidé IFRS de 7 426 millions d’euros, résultat opérationnel consolidé IFRS de 639 millions d’euros, résultat net consolidé IFRS de 977 millions d’euros et marge nette consolidée IFRS de 13,2%. Trésorerie disponible à 9 415 millions d’euros. Carnet de commandes consolidé à 46 596 millions d’euros et ratio book-to-bill de 1,5x. Dividendes proposés de 4,78 euros par action (payout d’environ 35%). Pour 2026, le chiffre d’affaires est anticipé autour de 8,5 milliards d’euros avec 40 Falcon et 28 Rafale prévus.
Risks mentioned
Incertitudes liées aux contextes militaires, géopolitiques et budgétaires, couplés aux droits de douane et à l’incertitude sur le SCAF.
Pression fiscale dégrade la compétitivité de la Société.
Incertitudes liées au droit de douane américain au 1er semestre 2025 et à l’évolution du Make in India.
Opportunities identified
Progression possible grâce au Make in India et à la coopération avec des partenaires indiens (DRAL, Tata Advanced Systems).
Poursuite du développement et de la modernisation des programmes Rafale/Falcon et du SCAF, ARCHANGE et ALBATROS; potentiel d’accroître les exports.
Partenariats pour une IA souveraine et maîtrisée avec AMIAD, Thales (cortAIx) et Harmattan AI.
Outlook / guidance
Expected revenue: 8,5 milliards d'euros (2026)
Management commentary: La prévision pour 2026 prévoit un chiffre d’affaires en hausse par rapport à 2025, à 8,5 milliards d’euros, soutenu par les livraisons prévues de Rafale et Falcon (40 Falcon et 28 Rafale).
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