2023-05-05 06:09:34
By Le Figaro with AFP
Published update
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The turnover of Thales experienced sustained growth in the first quarter, benefiting from the rebound in service activities in civil aeronautics thanks to the recovery in air traffic, the defense and technology group announced on Friday. From January to March, activity increased by 7.9% (9.4% at constant exchange rates and scope), to 4.03 billion euros. This benefited from the dynamism of the civil aeronautics sector and in particular from maintenance and repair activities which jumped by 45%.
«The level of growth in our turnover is higher than our objective for the year“, welcomed the financial director Pascal Bouchiat during a conference call. For the whole of the 2023 financial year, Thales confirmed its objective of growth of between 4 and 7% for 2023 at constant exchange rates and perimeter.
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The military programming law, driving growth?
The activity of the Defense and Security division, the most important of the group, is up by 6.6% to 2.1 billion euros despite the difficulties of subcontractors in supplying electronic components but also certain mechanical parts. “We think we will continue to fight on this throughout 2023“, estimated Mr. Bouchiat. That of the Identity and digital security division (cybersecurity, biometric documents) increased by 20.1%. Order intake, which foreshadows future sales, increased by 13% in the first quarter, to 3.4 billion euros.
Defense orders jumped 31% (1.4 billion euros). They include in particular alarge order“, term that the company uses when a contract exceeds 100 million euros, relating to a “submarine subsystem for a military customer», Indicates Thales without further details. In the longer term, the 413 billion euros of the next French military programming law (LPM) planned for 2024-2030, augurs well for a “growth of 6 to 7% per year until 2030» French defense orders for Thales. France alone accounts for 40% of Thales’s defense activity.
Orders from the Aerospace division, which includes civil aeronautics and space, on the other hand stagnated (+1%, to 1.2 billion euros). Space has benefited from twolarge orders” for satellites of the future Italian observation constellation Iride as well as a module for the future international lunar orbital station, but suffers from a “basis of comparisonunfavorable with the first three months of last year.
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