Pilatus reports $1.13bn turnover in 2019 and ‘severe turbulence’ in 2020

Mike Stones

Pilatus Aircraft has revealed a 2019 turnover of CHF 1.1bn ($1.13bn) and operating income of CHF 153m ($157.30m), followed by “severe turbulence” this year, sparked by the Covid-19 global pandemic, according to its chairman Oscar J. Schwenk.

The company described last year as another very successful 12 months overall … with figures [that] were very similar to those reported in 2018”.

Aircraft deliveries totalled 134 in 2019 and were comprised of the widest production programme in the company’s 80-year history. Deliveries included: 83 PC-12 NGs, 40 PC-24s and 11 PC-21s.

Aircraft deliveries totalled 134

After completing the roll out of the new PC-24, 75 aircraft have been delivered to date and are operating on every continent. One PC-24 has already logged more than 1,800 flight hours. “The PC-24 has won prestigious new clients such as Volkswagen and KSA, the Swedish air ambulance service – important milestones in a programme which is still young as yet,” said the company.

All PC-24s are now authorised for use on wet and snow-covered unpaved and grass runways. Following its launch and certification last autumn, the first PC-12 NGX models became operational with their new owners this month.

Meanwhile, the company forecast turbulent times ahead.Pilatus started the year with orders worth over two billion Swiss francs, not including the major order from the Spanish air force,” said the company. “But the corona crisis is bound to leave its mark, and the promising outlook of the early weeks of the year has had to be revised downward.”

Orders worth over two billion Swiss francs

The company initially introduced short-time working for large numbers of staff but 80% have now been returned to full-time work. Supply chains remain disrupted, requiring continuous reassessment of the situation, reports the company.

Pilatus chairman Schwenk said: “I am very pleased with our performance in 2019. I note, however, that the corona pandemic has pitched us – and many others – into a period of severe turbulence requiring constant fact-based readjustment of our chosen heading.”

Schwenk highlighted the importance of paying realistic salaries, monitoring fixed costs at all times and distributing profits with prudence. “We are not the only ones having to tighten our belts,” he added.

“In a situation which no one could have foreseen, it is reassuring to know that the financial reserves set aside in the past will ensure we are able to navigate the current crisis in preparation for a clean landing and a renewed take-off into the future, together. In the final instance, our business success benefits everyone.”

 

Pilatus Aircraft 2019 financial report – at a glance

  • Turnover: CHF 1.1bn ($1.13bn)
  • Operating income: CHF 153m ($157.27)
  • Total aircraft deliveries: 134
  • Models delivered: 83 PC-12 NGs, 40 PC-24s and 11 PC-21s
  • Started 2020 with order book worth: more than CHF 2bn.

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