Tag: financial (Page 1 of 23)

Dassault Aviation releases order intakes, deliveries and backlog as of December 31, 2023

January 14, 2024 / WIL BALDWIN

AIRCRAFT ORDERED IN 2023

60 Rafale (*) were ordered (42 France, 18 Indonesia), compared with 92 Export Rafale in 2022.

(*) The order for an additional 18 Rafale for Indonesia entered into force on January 8, 2024 and is therefore not part of the 60-Rafale order intake for 2023.

23 Falcon were ordered, compared with 64 in 2022.

AIRCRAFT DELIVERED IN 2023

13 Rafale (11 France, 2 Export) were delivered, while 15 had been guided.
14 Rafale (13 Export, 1 France) were delivered in 2022.

26 Falcon were delivered, while 35 (*) had been guided.
32 Falcon were delivered in 2022.

(*) Certified on August 22, 2023, Falcon 6X, integrating post certification upgrades approved by EASA, has entered into service at the end of 2023.

AIRCRAFT IN BACKLOG

As of December 31, 2023, the backlog includes:

211 Rafale (*) (141 Export, 70 France) compared with 164 Rafale as of December 31, 2022,
84 Falcon compared with 87 Falcon as of December 31, 2022.
(*) The order for an additional 18 Rafale for Indonesia entered into force on January 8, 2024 and is therefore not part of the 211-Rafale backlog of December 31, 2023.

UPCOMING FINANCIAL RELEASE

Dassault Aviation Group will release on March 6, 2024 its full year results.

The above figures relate only to the number of new aircraft. The Group points out that amounts in euros will be published on March 6, 2024.

Rafale B de l’Armée de l’Air Française en opérations extérieures (Opération Serval) – Vue en vol au dessus du Mali. Equipé de la nacelle Damoclès et de GBU-12.

Norse Atlantic Airways Q2 report shows strong growth momentum going into Q3 2023

September 1, 2023 / WIL BALDWIN

CEO, Founder and largest shareholder, Bjorn Tore Larsen:

“Q2 marked a significant period of ramping-up as we inaugurated new destinations in the US and Europe. Additionally, more of our fleet of fuel efficient Boeing 787 Dreamliners were brought into production. By the end of Q2 the airline had more than doubled capacity, with June being our first month of increased production, and notably our first month generating bottom line profits.

Q3 is expected to be our first financial quarter generating a profit. The move to profitability is driven primarily by having all 15 aircraft generating revenue for the first time, from July 1st; 10 of which are operating for Norse and five generating revenue through sublease income.

A milestone was passed during Q3 as we surpassed one million booked passengers. By providing affordable air fares on competitive and established routes to key primary airports and destinations, we allow more people to explore the world and enjoy the experience of long-haul travel whether for leisure or business. Norse will be the first truly low-cost profitable long-haul airline”.

For further information please see Q1 2023 report and company update presentation attached.

• Revenue increased by 152% quarter-on-quarter (“QoQ”) to USD 100.1 million

• 204,564 passengers carried, up 86% QoQ

• Revenue per passenger increased 89% QoQ to USD 422

• Available Seat Kilometres (ASK) up by 51% QoQ due to planned ramp-up as Norse brought more aircraft into production

• Positive EBITDAR of USD 2.2 million, the first positive EBITDAR on a quarterly basis since inception of the Company

• Intra-quarter Norse recorded its first profitable month (June) and continued positive momentum

into Q3

• Load factors showed strong development during the quarter, with monthly average load factors of 67%, 72% and 82% in April, May and June respectively. The positive development continued post quarter end with an average load factor of 85% in July

• USD 19.0 million cash generated from operations in the quarter, an increase of USD 39.8 million QoQ

• Total cash held at quarter end of USD 59.1 million

• As communicated in November 2022 in relation to a private placement at the time, Norse made good on its promise to shareholders that it would perform a repair offering, which it completed during the quarter, raising NOK 150 million gross (USD 14.1 million)

• Norse upgraded to Euronext Expand at Oslo Stock Exchange, a regulated market, during the quarter

• Heavy increase in production through Q3 compared to Q2 with all Norse aircraft generating revenue for the first time from 1st July 2023

Garmin signs purchase agreement to acquire JL Audio Solutions

August 8, 2023 / WIL BALDWIN

Olathe, Kansas, August 7, 2023, PR Newswire – Garmin Ltd. (NYSE: GRMN), today announced it has entered into a definitive agreement to acquire JL Audio, a privately-held U.S. company that designs and manufactures audio solutions for marine, aftermarket automotive, powersports, home and RV customers.

With over four decades of experience, JL Audio offers premium audio products and accessories, including speakers, amplifiers, subwoofers and other audio components.

JL Audio is headquartered in Miramar, Fla., and employs more than 600 associates. The completion of this acquisition is expected to occur by the end of 2023 and is subject to customary regulatory approvals and closing conditions. All existing JL Audio products will continue to be supported post-closing, and customers can expect to continue receiving the same great customer service. Financial terms of the acquisition will not be disclosed.

A.P. Moller – Maersk reports robust Q2 financial results in difficult market

August 7, 2023 / WIL BALDWIN

Copenhagen, Denmark – A.P. Moller – Maersk (OTC: AMKBY) reports a second quarter of 2023 ahead of expectations, while the ongoing market normalisation continued through the quarter leading to lower volumes and lower rates. Revenue stood at USD 13.0bn compared to USD 21.7bn in Q2 2022 while profitability was strong at 12.4% although significantly lower compared to the extraordinarily strong Q2 2022. Reflecting the strong first half performance, Maersk raises its financial outlook and now expects underlying EBITDA of USD 9.5 – 11.0bn (previously USD 8.0 – 11.0bn), underlying EBIT of USD 3.5 – 5.0bn (previously USD 2.0 – 5.0bn) despite a weakened second half market outlook.

Ocean revenue decreased to USD 8.7bn from USD 17.4bn driven by a decrease in freight rates and loaded volumes. While the volume and rate environment stabilized at a lower level during Q2, Ocean continued to be impacted by lower demand, driven by a significant inventory correction in particular in North America and Europe. A strong cost management allowed to partially offset the top line impact on financial performance in Ocean.

Revenue in Logistics & Services was USD 3.4bn compared to USD 3.5bn. The segment was also impacted by lower volumes due to the continued destocking and weaker consumer demand, as well as low rates. As in Ocean, market demand is expected to continue to be subdued as long as the inventory correction is ongoing.

Revenue in Terminals decreased to USD 950m from USD 1.1bn and was influenced by the normalisation of storage revenue and lower volumes amid lower consumer demand and less congestion in North America. Strong cost control contributed to a continued solid financial performance.

Boeing Announces Second-Quarter Deliveries

July 11, 2023 / WIL BALDWIN

ARLINGTON, Virginia, July 11, 2023 /PRNewswire/ – The Boeing Company [NYSE: BA] announced today major program deliveries across its commercial and defense operations for the second quarter of 2023.

The company will provide detailed second quarter financial results on July 26. Major program deliveries during the second quarter were as follows:

Major Programs		2nd Quarter 2023	Year-to-Date 2023

Commercial Airplanes Programs
	737	103	216
	747	—	1
	767	8	9
	777	5	9
	787	20	31
Total		136	266

Defense, Space & Security Programs
	AH-64 Apache (New)	5	12
	AH-64 Apache (Remanufactured)	16	29
	CH-47 Chinook (New)	2	7
	CH-47 Chinook (Renewed)	3	4
	F-15 Models	4	6
	F/A-18 Models	6	13
	KC-46 Tanker	—	1
	P-8 Models	2	5
	Commercial and Civil Satellites	—	3
	Note: Delivery information is not considered final until quarterly financial results are issued.

Contact
Matt Welch
Boeing Investor Relations
(312) 544-2140

David Dufault
Boeing Investor Relations
(312) 544-2140

Boeing Media Relations
media@boeing.com

SOURCE Boeing

QANTAS and Jetstar Airlines Adjust Third Quarter Flight Capacity Settings

January 16, 2022 / WIL BALDWIN

Qantas and Jetstar are adjusting flying levels to better match travel demand in light of the sudden growth in COVID-19 cases. The Qantas Group now expects domestic capacity for the third quarter of FY22 to be at around 70 per cent of pre-COVID levels, down from the 102 per cent that had been planned. The schedule changes are focused on reducing frequency of services and size of aircraft to minimise inconvenience for passengers as much as possible.

The Group’s total international capacity for the same period will fall from 30 per cent to around 20 per cent of pre-COVID levels. This reduction is driven by increased travel restrictions in countries like Japan, Thailand and Indonesia and is mostly impacting Jetstar’s leisure routes. Other markets – such as London, Los Angeles, Vancouver, Johannesburg and India – continue to perform well.

Customers will be contacted directly from late January if their booking is impacted by cancellations and offered alternative flights that in most cases are likely to be a difference of a few hours if travelling domestically.

Qantas and Jetstar continue to have 100 per cent of their available Australian-based crew stood up, which has helped to minimise the resourcing impacts of some needing to self-isolate during the summer peak. This 100 per cent crewing level will be maintained despite the capacity reductions announced today, giving both airlines a significant buffer to manage ongoing isolation requirements and resulting in a more reliable schedule for passengers.

An assessment on the financial impact of these changes will be given at the Group’s half year results in late February, by which time a clearer picture will have emerged on swing factors such as actual demand levels; potential loosening or tightening of travel restrictions in countries overseas; and consumer response to the reopening of Western Australia next month. No material adjustments have been made to capacity expectations for Q4 FY22.

To give customers more confidence when they book international and domestic flights, Qantas has extended Fly Flex, which enables customers to change their travel dates as often as they need, fee-free (a fare difference may apply).

Union Pacific Corporation Announces 10% Dividend Increase for Fourth Quarter 2021

December 14, 2021 / WIL BALDWIN

Union Pacific Corporation (NYSE: UNP) announced that its Board of Directors today voted to increase the quarterly dividend on the Company’s common shares by 10% to $1.18 per share. The dividend is payable December 30, 2021, to shareholders of record December 20, 2021. Union Pacific has paid dividends on its common stock for 122 consecutive years.

“Union Pacific continues to deliver strong cash returns to our shareholders,” said Jennifer Hamann, Union Pacific executive vice president and chief financial officer. “Today’s action, coupled with the 10% increase earlier this year, is consistent with our targeted dividend payout ratio of 45 percent.”

About Union Pacific

Union Pacific delivers the goods families and businesses use every day with safe, reliable and efficient service. Operating in 23 western states, the company connects its customers and communities to the global economy. Trains are the most environmentally responsible way to move freight, helping Union Pacific protect future generations. More information about Union Pacific is available at www.up.com.

777 Partners Orders 30 Additional Boeing 737 MAX Airplanes

December 10, 2021 / WIL BALDWIN

Boeing [NYSE: BA] and 777 Partners have announced the Miami-based investment firm will nearly double its 737 MAX order book with the purchase of 30 additional jets. The new order expands 777 Partners’ commercial aircraft portfolio to a total of 68 737 MAX’s, in its fourth order this year for the fuel-efficient, single-aisle jets. Valued at $3.7 billion at list prices, the order will enable 777 Partners to expand 737 MAX operations across the fleet of its affiliated global low-cost carriers.

The 737 MAX family reduces fuel use and carbon emissions by at least 14% compared to the airplanes it replaces, reducing operating costs as well as the environmental footprint for 777 Partners’ affiliated airlines. Every 737 MAX features a passenger-pleasing Boeing Sky Interior, highlighted by modern sculpted sidewalls and window reveals, LED lighting that enhances the sense of spaciousness and larger pivoting overhead storage bins.

777 Partners is a Miami-based private alternative investment firm that invests across a number of high growth attractive verticals. Founded in 2015, 777 Partners initially applied its expertise in underwriting and financing of esoteric assets to diversify across a broad spectrum of financial services businesses, asset originators, and financial technology/service providers. In recent years, the firm has broadened its mandate and now invests across six different industries: insurance, consumer and commercial finance, litigation finance, direct lending, media and entertainment, and aviation.

Lufthansa Group Successfully Secures Further Liquidity on the Capital Market

November 10, 2021 / WIL BALDWIN

Third corporate bond of 1.5 billion euros issued in 2021
Lufthansa Group takes advantage of favorable market conditions
Placement with two maturities of two and five-and-a-half years complements Lufthansa Group’s maturity profile

Deutsche Lufthansa AG (OTC: DLAKY) has again successfully issued a bond with a total volume of 1.5 billion euros. The bond, with a denomination of 100,000 euros, was placed in two tranches with terms of two and five-and-a-half years respectively. The tranche with a term until 16 November 2023 has a volume of 600 million euros and bears interest of 1.625 percent per year. The tranche with a term until 16 May 2027 has a volume of 900 million euros and bears interest of 2.875 percent. The two tranches over two and five-and-a-half years fit perfectly into the Group’s maturity profile.

Remco Steenbergen, Chief Financial Officer of Deutsche Lufthansa AG, stated: “The long-term funds, which were again raised at attractive terms, will be used to further strengthen the Lufthansa Group’s liquidity and refinance existing debt. This placement is one of several successful capital market transactions that we have executed since the end of last year and will further contribute to the full repayment of the government stabilization measures in Germany.”

Embraer Announces Earning Results for Third Quarter 2021

November 5, 2021 / WIL BALDWIN

São Paulo, Brazil, November 5, 2021 – Embraer (NYSE: ERJ) announced the company’s operating and financial information on a consolidated basis in United States dollars (US$) in accordance with IFRS. The financial data presented in this document as of and for the quarters ended September 30, 2021 (3Q21), June 30, 2021 (2Q21) and September 30, 2020 (3Q20), are derived from the unaudited financial statements, except annual financial data and where otherwise stated.

HIGHLIGHTS

• Embraer delivered 9 commercial jets and 21 executive jets (14 light / 7 large) in 3Q21, bringing the year-to-date deliveries to 32 commercial jets and 54 executive jets (36 light /18 large). Following solid sales activity in the period across businesses, total company firm order backlog at the end of 3Q21 was US$ 16.8 billion;

• Revenues in 3Q21 reached US$ 958.1 million, representing year-over-year growth of 26.3% compared to 3Q20, with double digit growth in all segments;

• Excluding special items, adjusted EBIT and EBITDA were US$ 35.7 million and US$ 79.2 million, respectively, yielding adjusted EBIT margin of 3.7% and adjusted EBITDA margin of 8.3%. In the first nine months of 2021, adjusted EBIT margin was 3.8% and adjusted EBITDA margin was 8.9%;

• Adjusted net loss (excluding special items and deferred income tax and social contribution) in 3Q21 was US$ (33.9) million, with adjusted loss per ADS of US$ (0.18);

• Embraer generated free cash flow in 3Q21 of US$ 21.3 million, and in the first nine months of 2021 free cash usage was US$ (160.2) million. The positive free cash flow in 3Q21 represented the first time in more than 10 years the Company generated cash in the usually seasonally weak third quarter. The free cash flow in both periods represented a significant improvement compared to the prior year periods on better profitability and working capital efficiencies, particularly with respect to inventory management;

• The Company finished the quarter with total cash of US$ 2.5 billion and net debt of US$ 1.8 billion;

• Given better-than-expected free cash flow performance over the first nine months of 2021, Embraer is updating its guidance for free cash flow without M&A or divestitures to a range of US$ 100 million or better, from the prior range of US$ (150) million to breakeven. The Company reiterates its other financial and deliveries guidance for 2021 of commercial jet deliveries of 45-50 aircraft, executive jet deliveries of 90-95 aircraft, consolidated revenues in a range of US$ 4.0 to $4.5 billion, adjusted EBIT margin of 3.0% to 4.0%, and adjusted EBITDA margin of 8.5% to 9.5%.

About Union Pacific

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