Thales lifted its sales projections for the year as orders at its defense and aerospace units surged in the first nine months.
The rosier forecasts came as Thales posted nine-month sales of 16.42 billion euros, equivalent to $18.44 billion, up 7.6% in reported terms and 8.1% organically. Analysts had forecast sales of 16.33 billion euros, according to a market consensus provided by the company. The group reported orders of 19.12 billion euros, up 14% in reported terms and 15% organically. Analysts had forecast orders of 18.58 billion euros, according to the consensus. Thales’s defense business, which remains the largest contributor to orders, brought in nearly 11.32 billion euros in bookings, up 14% both in reported terms and organically. Thales’s aerospace business fared too, with orders up 29% organically to 5.01 billion euros. Thales Alenia Space—a joint venture between Thales and Italy’s Leonardo—last month signed an agreement with French satellite operator Eutelsat to supply payloads—equipment that satellites carry to perform their mission—for 330 low Earth orbit satellites. The company said it continued to expect an adjusted earnings before interest and taxes margin between 12.6% and 12.8% this year.
The company said demand was particularly sustained in the naval domain. It secured a new tranche under a multiyear contract for the support and maintenance of Australian Navy vessels as well as another contract under a French program for the development of four nuclear-powered ballistic missile submarines.
