CHRISTINA MACKENZIE / PARIS
Eurocopter aims in 2004 to improve its customer service and its relationship with suppliers, two of its "less strong points", says chief executive Fabrice Brégier. He nevertheless predicts that 2004 will be a "good year" for the company.
Brégier says customer support is a "high priority " for Eurocopter because of the growing in-service fleet and competition from outside providers. He adds that Eurocopter is increasing its stock of spares to "significantly decrease the time needed to make parts available".
This year the group will also set up a purchasing policy to reduce dollar-euro exchange rate risks. The continuing drop in the value of the dollar against the euro "has cost us a few tens of millions of euros", he says, but this will not affect the 2003 results, thanks to hedging policies. Eurocopter does not publish financial results, as they are incorporated into those of parent EADS.
"Within two to three years we ought to be able to balance our dollar spending with our dollar income," says Brégier, by increasing supply purchases from countries with currencies tied to the dollar. About a third of Eurocopter's income is in dollars, he says.
Eurocopter's profits nevertheless grew about 20% in 2003 on turnover of €2.61 billion ($3.23 billion), a 4% rise on the year before. "We were expecting this figure to be lower," says Br‚gier.
Eurocopter sold 293 new civil and military helicopters in 2003 which represents 45% of what Brégier terms the "accessible" market in terms of numbers. This excludes the US military market. Eurocopter also sold 49 secondhand helicopters. The breakdown in the value of total orders between military and civil was exactly 50:50 in 2003.
In the civil and parapublic sectors, where Eurocopter holds a 53% market share in terms of value, Br‚gier says a "satisfactory recovery" was made in the second half of 2003 after a slow first half. He expects 10% growth this year.
Source: Flight International