Thales has reaffirmed its annual objectives, including organic sales growth of 4% to 6%, and total sales projected between €19.7bn and €20.1bn. Credit: LCV/Shutterstock.com.

Thales has reported sales of €4.42bn ($4.70bn) during the first quarter (Q1) of fiscal year 2024 (FY24), a 9.8% increase on reported basis from €4.02bn in Q1 FY2023.  

Sales in the company’s Defence & Security segment amounted to €2.30bn in Q1 FY24, representing an increase of 13.1% on a reported basis and 13.4% on constant scope and exchange rates (or organic change) from €2.03bn in last year’s Q1.  

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Thales’ Aerospace segment sales reached €1.18bn, a 5.1% organic change and 2.3% total change from €1.15bn in Q1 of 2023.  

Digital Identity and Security segment saw a decline of 2.5% in sales, on organic basis, totalling €916m in Q1 FY24 versus €818m in Q1 FY23. However, on a reported basis, the segment’s sales increased 12%. 

Mature markets have been primary drivers of growth in sales, with France, the UK, and Australia showing strong organic growth rates of 15.5%, 9.0%, and 11.2%, respectively.  

Emerging markets also posted a healthy organic growth of 7.0%. 

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Meanwhile, Thales’ order intake for Q1 FY24 soared to €5.03bn, a 46% organic increase and a 47% rise on reported basis compared to €3.42bn in the same quarter last year.  

Defence & Security segment’s order intake surged by 127% organically and 128% on reported basis to €3.12bn from €1.37bn in Q1 FY23. 

Thales has reaffirmed its annual objectives, including a book-to-bill ratio above one as in 2023, organic sales growth of 4% to 6%, and total sales projected between €19.7bn and €20.1bn. 

The company is expecting earnings before interest and taxes margin to range between 11.7% and 12.0%, indicating a 10 to 40 basis point improvement from 2023. 

Thales CEO and chairman Patrice Caine said: “Organic sales growth was ahead of annual guidance, driven by Defence & Security business, which recorded a particularly strong performance over the quarter.” 

Recently, the Netherlands’ Command Materiel and IT entered an agreement with Thales to buy seven additional Ground Master 200 Multi-Mission Compact radars.