Denel Dynamics Missiles earnings up for 2012
Written by defenceWeb, Thursday, 02 August 2012
Denel’s Annual Report 2012 revealed that the unit recorded a turnover of R619 million for 2012 (down from R729 million the previous year) and export turnover of R194 million (up slightly from R192 million the previous year). Denel noted that, historically, Denel Dynamics Missiles has posted financial losses due to onerous contracts, amongst other factors. Although it has recorded marginal profits for the second successive year, its order cover and the closure of key contracts remain challenges.
The company’s confirmed order book is down by R117 million, at R598 million for the 2012 financial year ending March. Denel said one of the unit’s highlights was the posting of a nominal profit, with a continued year-on-year improvement in overall business performance in accordance with the “Voyage to Excellence” programme launched in 2007.
Some of the unit’s highlights include the conclusion of Umkhonto missile deliveries to a European country, which were completed in 2011/2012.
Denel Dynamics Missiles said the development of the A-Darter missile is on track for production to commence in 2014. Final missile qualification and performance validation is under way to achieve critical technical milestones in 2012/13 and 2013/14. As part of this evaluation the first two successful guided missile firings from a Gripen aircraft were successfully completed during February 2012. A-Darter is being developed jointly by South Africa and Brazil. “The success of this joint development is likely to lead to further alliances with other developing nations. There are discussions about follow-on collaborative projects and marketing strategies,” Denel said.
Denel Dynamics CEO, Jan Wessels earlier this year said that, “I believe the DoD will contribute to the funding of a follow-up development missile programme, but its exact nature and funding model are still under discussion.”
In May 2011, Denel Dynamics Missiles concluded a contract for the sale of the Umbani precision guided bomb kit to an export customer. “This contract is a prime example of how the substantial investment in intellectual property over a number of years has been afforded an opportunity to yield a return for SA,” Denel said.
Other notable achievements included the integration and flight-testing of the Ingwe missile on the Eurocopter EC635 helicopter and the first flight test with an alternative multipurpose warhead. In addition, Denel Dynamics Missiles introduced the fire-and-forget configuration of its Raptor stand-off weapon. The full autonomous flight was a first for the Raptor weapon system.
Denel Dynamics Missiles employs 732 people. Its current range of products and systems includes the A-Darter, the Umkhonto-IR air defence missile, the Ingwe and Mokopa anti-armour missiles, precision-guided munitions and the Raptor II stand-off weapon.
Top stories this week
- Security challenges driving modest African armoured vehicles market
- Vliegmasjien aims to fly C-Wolf amphibian before year-end
- Algeria interested in Kamov Ka-52 attack helicopter
- 6 000 SANDF troops deployed on internal and external missions
- Seriti Commission hears front line defence equipment is properly utilised
Nautic Africa appoints Grant Bassingthwaighte as chief commercial officer
by Nautic Africa, 19 June 2015
Grant Bassingthwaighte's main focus is to support business development and contribute to strategic decision-making of Nautic Africa.
Nautic SA appoints Keith Govender as CEO
by Nautic Africa, 19 June 2015
Keith Govender will focus on leading the company to become the chief maritime service provider in SA, the company says.
Saab receives EDA order for Carl-Gustaf ammunition
by SAAB, 12 June 2015
The company will deliver Carl-Gustaf ammunition to EDA member states Estonia, Latvia, Lithuania, the Czech Republic and Poland.
Saab signs contract with Pilatus on mission, graphics computer for PC-21 trainer aircraft
by Saab, 8 June 2015
The company will provide the mission and graphics computer, with a digital map function, for the Pilatus PC-21 aircraft.
Saab's latest Carl-Gustaf M4 for the first time presented at CANSEC
by Saab, 28 May 2015
The man-portable shoulder-fired weapon, weighing less than 7kg, is on display for the first time in Canada.
Saab, DigitalGlobe announce Vricon joint venture to create the globe in 3D
by Saab, 27 May 2015
The JV will produce photorealistic 3D products and digital elevation models globally for enterprise and government geospatial markets.