Thales Confirms Guidance After Sales, Orders Rise

By Pierre Bertrand

Thales confirmed its targets for the year after sales and order intake figures for the first quarter of the year rose ahead of expectations.

The French aerospace-and-defense company said sales came to 4.42 billion euros ($4.55 billion), a 9.8% on year increase in reported terms and up 7.9% organically.

Growth in the period was driven by the company's defense and security unit, where sales grew 13% to EUR2.31 billion.

Orders for the three months to the end of March came to EUR5.04 billion, a 47% rise in reported terms or a 46% jump organically.

Defense and security orders in the period more than doubled to EUR3.12 billion from EUR1.37 billion in the prior-year quarter, as the unit benefited from strong orders.

The result compares with analysts' expectations of EUR3.65 billion in new orders and EUR4.36 billion in sales, according to a company-provided consensus.

The company confirmed its 2024 targets, including sales growth of between 4% and 6%, equating to sales in the EUR19.7 billion to EUR20.1 billion range.

Write to Pierre Bertrand at pierre.bertrand@wsj.com

(END) Dow Jones Newswires

April 30, 2024 01:29 ET (05:29 GMT)

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