Pilatus Revenues Top CHF 1 Billion Again

Pilatus Aircraft marked another near record year in 2015, with revenues approaching last year’s all-time high and topping CHF 1 billion (Swiss francs) for the third time in the company’s history. Pilatus brought in CHF 1.1 billion ($1.15 billion U.S.) in revenues and CHF 191 million ($199.5 million U.S.) in operating income for 2015. The Swiss manufacturer reported CHF 1.174 billion in revenue and CHF 200 million in operating income for 2014.

The small slide in revenues came as Pilatus delivered six fewer aircraft in 2015 for a total of 121. But PC-12NG deliveries inched up by four units last year, to 70. The North American market accounted for 49 of the PC-12NG deliveries.

The operating income was on par with 2014 results even though Pilatus has ramped up investment in research and development to nearly CHF 150 million. This ramp up has taken place as Pilatus remains on schedule with its new PC-24 jet. The first two prototypes flew in 2015 and have since accrued more than 400 hours.

Pilatus, which expects to bring the aircraft to market in late 2017, is in preparations to begin series production of the PC-24. The company is in the initial phases of building an additional production hangar for the program. “We fully intend to continue to expand our operations here in Switzerland in the future,” said Pilatus chairman Oscar Schwenk.

Along with the PC-24, Pilatus last year brought in orders from the Royal Australian Air Force for 49 PC-21s, helping to double the company’s orders in 2015 over a year earlier. But Schwenk warned that the impact of those orders will not be reflected on the balance sheet before 2017 and, “We already know that 2016 will not be quite as good. Sales revenue and profits will be lower than in the past.”