Paris, France. With a revenue of 1.65 billion euros in 2023, Daher today announced financial results for the year that are in line with the objectives of its five-year “Take Off 2027” strategic plan, which covers the 2023-2027 timeframe.
One year after the launch of this strategic plan, the Daher Group has achieved significant progress – notably with more than 35% of its revenue generated in the United States, and the creation of the “Industrial Services” division.
With industrial services as the fourth line of business – complementary to its activities as an aircraft manufacturer, industrialist and logistician – Daher is strengthening its position in the aeronautical value chain and asserting itself as the partner of choice for major aeronautical customers.
Take Off 2027: Significant achievements
In 2023, Daher began implementing a major evolution to achieve the objectives of its “Take Off 2027” strategic plan and to reach the goal of “becoming a large, profitable international company” by 2027.
The creation of the “Industrial Services” division, which was effective as of January 1, 2024, is the realization of major projects undertaken since July 2023 to integrate the teams and activities of the Assistance Aéronautique et Aérospatiale (AAA) company, which Daher acquired in 2023. As a result, Daher is a leader today in the industrial services market, with more than 3,000 specialists, a presence in 11 countries, and a revenue of more than 270 million euros in 2023 (for the full year) – capable of supporting its customers throughout their complete production cycles.
Additionally, Daher reached a major milestone in its ambitious decarbonization roadmap during 2023 with the first hybrid-electric flight of the EcoPulse demonstrator aircraft, developed together with Airbus and Safran. For Daher, one of the goals is to bring a hybrid-electric aircraft to market by 2027 for its airplane product line – positioning itself as a pioneering player for the more responsible aviation of tomorrow.
In 2023, Daher also successfully initiated the transformation of its managerial culture by deploying the “Daher Leadership Model” to 1,500 executives and managers – who today share the same management principles across the Group. Also notable was the fact that during the 12 months, Daher trained more than 410 new employees for technical aeronautical-sector jobs.
Finally, Daher launched a vast project, called D#, with the goal of creating four major legal structures – one per the company’s business lines – each with a general director who have all the means (human resources, training, business, investment, certification…) – to autonomously manage their activities according to the specifics of their operating environment. Initiated at the end of 2023, D# will be implemented during a period of two years, and should be fully in place by the end of 2025.
Preparing for the challenges of 2024
To successfully complete the Daher Group’s transformation, it has evolved the Executive Committee with four appointments:
- On October 1, 2023, Alain-Jory Barthe joined Daher to take charge of the Industry Division;
- On January 1, 2024, Cédric Eloy became the head of the Industrial Services Division, and Julie de Cevins became the Group’s Chief Sustainability Officer;
- As of February 1, 2024, Aymeric Daher has headed up the Logistics Division.
For Daher – as for the entire aeronautical industry – 2024 should continue the dynamics of 2023, marked by strong demand and the challenges of increasing production rates to the required levels.
One year after the launch of its “Take Off 2027” strategic plan, Daher is meeting its objectives and continuing its growth. With a recruitment rate of approximately 15% in 2023 and the creation of the Industrial Services division as its fourth business, the Group is opening new ambitious prospects for 2024 in terms of growth, human resources, decarbonization and innovation.
“The supply chain’s fragility has a strong impact on the ability to deliver our aircraft and the parts that we produce for our customers. This is a key challenge for 2024, and we are geared up to meet it,” said Didier Kayat, the Daher Group’s Chief Executive Officer. “Improving our profitability is imperative – it is at the heart of our strategic plan – but the inflationary context considerably complicates the situation.
The entire sector must question itself on the issue of pricing: it is a crucial subject which conditions the future. As a result of the renewed confidence from our historic investors, we already have secured our cash flow needs with a confirmed RCF (revolving credit facility) credit line of 250 million euros. And finally, we are continuing to recruit – as employees are our driving force, and they are the key link for the innovation of tomorrow.”