Thales Reports Strong Performance with 11% Increase in Operating Profit

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France’s Thales announced a robust performance for 2023, with an 11% underlying increase in operating profit and 8% higher sales, driven by a resurgence in the civil aerospace market.

Despite facing pressure in the competitive space business, the company achieved a record operating profit of 2.132 billion euros and sales of 18.428 billion euros, marking its first time surpassing 2 billion euros in operating profit since before the pandemic in 2019. Additionally, Thales reported an operating margin of 11.6%, up 0.6 percentage points from the previous year.

Analysts’ expectations for 2023 operating profit and sales were exceeded, with Thales surpassing the company-compiled consensus. The company’s order intake remained strong, fractionally higher than the previous year, reaching 23.132 billion euros.

Looking ahead to 2024, Thales anticipates like-for-like sales growth of 4% to 6%, targeting a revenue range between 19.7 billion and 20.1 billion euros.

Source: Reuters

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