THALES CONSENSUS
Order Intake, Sales and EBIT by operating segments | Growth rates | |||||||||||||||||
Order intake | H1 2020 | FY 2020 | H1 2021 | FY 2021 | min | max | FY 2022 | FY 2023 | FY 2024 | H1 2021 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | ||||
Aerospace | 1 625 | 3 822 | 2 713 | 4 425 | 4 259 | 5 152 | 4 866 | 4 926 | 5 068 | 67% | 16% | 10% | 1% | 3% | ||||
Transport | 442 | 1 652 | 580 | 1 703 | 1 391 | 1 750 | 1 785 | 1 810 | 1 850 | 31% | 3% | 5% | 1% | 2% | ||||
Defence & Security | 2 425 | 9 922 | 3 413 | 9 063 | 8 741 | 9 494 | 9 220 | 9 622 | 9 991 | 41% | -9% | 2% | 4% | 4% | ||||
Digital identity and security (DIS) | 1 587 | 3 023 | 1 399 | 3 091 | 2 977 | 3 182 | 3 203 | 3 394 | 3 623 | -12% | 2% | 4% | 6% | 7% | ||||
Other | 13 | 57 | 20 | 69 | 57 | 88 | 69 | 73 | 88 | nm | nm | nm | nm | nm | ||||
Total order intake | 6 092 | 18 476 | 8 118 | 18 610 | 17 855 | 19 071 | 19 630 | 20 647 | 21 413 | 33% | 1% | 5% | 5% | 4% | ||||
#participants | 6 | 5 | 5 | 5 | 4 | |||||||||||||
Sales | H1 2020 | FY 2020 | H1 2021 | FY 2021 | min | max | FY 2022 | FY 2023 | FY 2024 | H1 2021 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | ||||
Aerospace | 1 946 | 4 217 | 2 008 | 4 320 | 4 134 | 4 437 | 4 685 | 4 994 | 5 300 | 3% | 2% | 8% | 7% | 6% | ||||
Transport | 717 | 1 618 | 735 | 1 723 | 1 634 | 1 821 | 1 783 | 1 836 | 1 878 | 3% | 6% | 3% | 3% | 2% | ||||
Defence & Security | 3 588 | 8 085 | 4 150 | 8 630 | 8 500 | 8 861 | 9 062 | 9 491 | 9 947 | 16% | 7% | 5% | 5% | 5% | ||||
Digital identity and security | 1 472 | 2 992 | 1 377 | 2 996 | 2 912 | 3 156 | 3 157 | 3 310 | 3 494 | -6% | 0% | 5% | 5% | 6% | ||||
Other | 28 | 77 | 29 | 77 | 60 | 82 | 77 | 77 | 77 | nm | nm | nm | nm | nm | ||||
Total sales | 7 751 | 16 989 | 8 304 | 17 753 | 17 544 | 17 972 | 18 730 | 19 624 | 20 622 | 7% | 4% | 6% | 5% | 5% | ||||
#participants | 12 | 12 | 12 | 12 | 11 | |||||||||||||
EBIT (*) | H1 2020 | FY 2020 | H1 2021 | FY 2021 | min | max | FY 2022 | FY 2023 | FY 2024 | H1 2021 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | ||||
Aerospace | -109 | -76 | 60 | 156 | 130 | 174 | 296 | 408 | 481 | nm | nm | 90% | 38% | 18% | ||||
Transport | 4 | 86 | 36 | 123 | 111 | 133 | 137 | 146 | 153 | 704% | 43% | 12% | 6% | 5% | ||||
Defence & Security | 359 | 1 039 | 501 | 1 130 | 1 099 | 1 192 | 1 178 | 1 255 | 1 321 | 40% | 9% | 4% | 7% | 5% | ||||
Digital identity and security | 140 | 324 | 140 | 329 | 313 | 391 | 369 | 413 | 448 | 0% | 2% | 12% | 12% | 8% | ||||
Other | -47 | -21 | 0 | 5 | -12 | 25 | 14 | 17 | 20 | nm | nm | nm | nm | nm | ||||
Total EBIT | 348 | 1 352 | 741 | 1 756 | 1 700 | 1 800 | 2 010 | 2 263 | 2 423 | 113% | 30% | 14% | 13% | 7% | ||||
#participants | 12 | 12 | 12 | 12 | 11 | |||||||||||||
EBIT margin evolution (points) | ||||||||||||||||||
EBIT margin | H1 2020 | FY 2020 | H1 2021 | FY 2021 | min | max | FY 2022 | FY 2023 | FY 2024 | H1 2021 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | ||||
Aerospace | -5,6% | -1,8% | 3,0% | 3,6% | 3,1% | 3,9% | 6,3% | 8,2% | 9,1% | 8,6 | 5,4 | 2,7 | 1,8 | 0,9 | ||||
Transport | 0,6% | 5,3% | 4,9% | 7,1% | 6,8% | 7,3% | 7,7% | 7,9% | 8,2% | 4,3 | 1,8 | 0,6 | 0,2 | 0,2 | ||||
Defence & Security | 10,0% | 12,9% | 12,1% | 13,1% | 12,9% | 13,4% | 13,0% | 13,2% | 13,3% | 2,1 | 0,2 | -0,1 | 0,2 | 0,1 | ||||
Digital identity and security | 9,5% | 10,8% | 10,2% | 11,0% | 10,7% | 12,4% | 11,7% | 12,5% | 12,8% | 0,6 | 0,2 | 0,7 | 0,8 | 0,3 | ||||
Other | NM | NM | nm | nm | nm | nm | nm | nm | nm | nm | nm | nm | nm | nm | ||||
Total EBIT margin | 4,5% | 8,0% | 8,9% | 9,9% | 9,7% | 10,0% | 10,7% | 11,5% | 11,8% | 4,4 | 1,9 | 0,8 | 0,8 | 0,2 | ||||
Other Group KPIs | ||||||||||||||||||
H1 2020 | FY 2020 | H1 2021 | FY 2021 | min | max | FY 2022 | FY 2023 | FY 2024 | H1 2021 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | |||||
Adjusted Net Income, group share (*) | 232 | 937 | 521 | 1 242 | 1 145 | 1 316 | 1 459 | 1 631 | 1 816 | 124% | 33% | 17% | 12% | 11% | ||||
Average number of shares outstanding | 213 | 213 | 213 | 213 | 213 | 214 | 213 | 213 | 213 | nm | nm | nm | nm | nm | ||||
Adjusted EPS | 1,09 | 4,40 | 2,45 | 5,84 | 5,38 | 6,15 | 6,85 | 7,66 | 8,53 | 124% | 33% | 17% | 12% | 11% | ||||
Free Operating Cash Flow (*) | -471 | 1 057 | 40 | 1 217 | 1 082 | 1 402 | 1 398 | 1 607 | 1 785 | 108% | 15% | 15% | 15% | 11% | ||||
Net cash (debt) at end of period | -3 928 | -2 549 | -2 970 | -1 901 | -2 181 | -1 603 | -1 202 | -427 | 351 | nm | nm | nm | nm | nm |
(*) Non-GAAP measures, see definitions on page 34 of the 2020 registration document
The consensus is composed of the forecasts of analysts who follow Thales results on a regular basis. The following broking firms contributed to the consensus at 16th July 2021 shown above: Agency Partner, Barclays, Berenberg, Bernstein, Citi, Deutsche Bank, Exane BNP Paribas, Goldman Sachs, JP Morgan, Redburn, Société Générale, and UBS. This information was collected between 12th and 15th July 2021 directly from the sell-side analysts. It is provided by Thales solely for information purposes and may not be necessarily complete. Its publication by Thales shall under no circumstances be regarded as a validation or approval by Thales of all or part of these forecasts. It does not represent the opinions, forecasts or forward-looking statements of Thales, or of its management. In consequence, Thales cannot be held responsible for any of the information, statement or data contained in or omitted from this table.
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THALES SA published this content on 16 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 July 2021 09:56:15 UTC.