'Foolish to Rely on Too Cyclical' Military Market, Declares Eurocopter's Bigay

Commenting on financial results for the past financial year at the show yesterday, Eurocopter president and CEO Jean-Francois Bigay was careful not to appear too reliant on military business, preferring instead to set his sights on consolidating an annual half-share of the world's civil market. This should be entirely possible, considering that Eurocopter has taken 49% in each of the two previous years.
More realistically, observed Bigay, military sales should average 15 to 20% of that market, not counting occasional windfalls such as the recent large contracts for Tigers and NH90s. The 1999-2000 results were 10% and 13%, respectively, under this criterion.

It is a different Eurocopter that presents itself to the world at this week's show. Since the previous event, the company has changed its legal form to become a fully integrated group and a fully-owned EADS subsidiary. It has also, for the first time, achieved a turnover of 2 billion euros, thanks to a 17% boost last year. If the extraordinary NH90 order is included, bookings were up 57% in 2000.
The down-side, admitted Bigay, is that Eurocopter is taking orders at a faster rate than it can build, resulting in long wait for customers eager to take delivery.

For the future, the company will be on the lookout for growth opportunities and pursuing military exports-especially in the medium-to-heavy range-in addition to continuing industrial reorganization within all subsidiaries of the group. Related activities are to include opening of an advanced training academy with Super Puma, Dauphin and EC 155 full-flight simulators; and a door-to-door, online logistics network in the Americas, Europe and Asia.