Thales revises upwards its revenue forecast for 2021

The aerospace, defense and security equipment manufacturer said its order intake over the January-June period rose 35% year-on-year to € 8.2 billion, notably thanks to contracts for satellites concluded in Europe, with Canada and Indonesia.

It reported first-half sales of 8.4 billion euros, up 9.8% year-on-year on an organic basis. Operating profit (EBIT) increased over one year by 121% to 768 million euros, with consolidated net income group share of 433 million euros.

Underlining the “very strong rebound” in half-year results, the CEO of Thales said that the group’s operating profitability was “already at a level close to 2019”, before the appearance of the coronavirus pandemic. Patrice Caine added, however, that the civil aeronautics market continued “to suffer the consequences of the health crisis”.

Thales now says it expects a turnover for the year of between 17.5 and 18 billion euros, while it previously anticipated a turnover of 17.1 to 17.9 billion euros. euros.

The group said in a statement that this forecast was made “on the basis of a health and economic context without any new major disruptions”, and a return to normal of semiconductor supply chains.

In May, Thales indicated that the chip situation was “globally under control”, not seeing a significant impact of the global shortage for its digital identity and security activities, but explaining that it was looking for additional suppliers. .

Patrice Caine declined to comment on the possible sale of the group’s signaling business, as Reuters reported this month that Thales has selected Japan’s Hitachi Rail, Switzerland’s Stadler Rail and Spain’s CAF as potential buyers.

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(Tim Hepher; French version Jean Terzian)