French aerospace and logistics company Daher has reported a revenue of EUR1.65B for the year 2023, aligning with the goals set out in its five-year “Take Off 2027” strategic plan, spanning the 2023-2027 period.
One year into the strategic plan, Daher has made substantial strides, with over 35% of its revenue coming from the United States and the establishment of the “Industrial Services” division. This new division, added as the fourth line of business alongside aircraft manufacturing, industrial services, and logistics, strengthens Daher’s position in the aeronautical value chain, positioning it as a preferred partner for major aeronautical clients.
The “Take Off 2027” strategic plan has witnessed significant achievements in 2023. Daher initiated a major evolution to realize its objectives and become a “large, profitable international company” by 2027. Notable accomplishments include the creation of the “Industrial Services” division, effective from 01 January 2024, which integrates the teams and activities of the Assistance Aéronautique et Aérospatiale (AAA) company acquired in 2023. This move establishes Daher as a leader in the industrial services market, boasting over 3,000 specialists, a presence in 11 countries, and a 2023 revenue exceeding 270 million euros.
“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. 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,” according to Didier Kayat, Daher Group’s Chief Executive Officer.
Daher reached a significant milestone in its decarbonization efforts with the first hybrid-electric flight of the EcoPulse demonstrator aircraft, developed in collaboration with Airbus and Safran. The company aims to introduce a hybrid-electric aircraft to the market by 2027, positioning itself as a pioneering force in responsible aviation.
The company also initiated the transformation of its managerial culture in 2023 through the deployment of the “Daher Leadership Model” to 1,500 executives and managers, fostering a shared set of management principles across the Group. During the year, over 410 new employees received training for technical aeronautical-sector jobs.
In addition, Daher launched the ambitious D# project at the end of 2023, aiming to create four major legal structures, each dedicated to one of the company’s business lines. These structures will operate autonomously, with a general director overseeing human resources, training, business, investment, and certification. The D# project is expected to be fully implemented by the end of 2025.
Looking ahead to 2024, Daher has made strategic appointments to its Executive Committee, including Alain-Jory Barthe leading the Industry Division, Cédric Eloy heading the Industrial Services Division, and Julie de Cevins appointed as the Group’s Chief Sustainability Officer as of January 1, 2024. Aymeric Daher assumed leadership of the Logistics Division as of February 1, 2024.
Daher anticipates that 2024 will continue the positive momentum of 2023, characterized by robust demand and the challenges of meeting increased production rates in the aerospace industry. With a recruitment rate of approximately 15% in 2023 and the recent establishment of the Industrial Services division, Daher is well-positioned for growth in 2024, focusing on human resources, decarbonization, and innovation.