THALES Q1 2024 order intake and sales
30th April 2024
www.thalesgroup.com
Q1 2024 highlights
Strong Defense & Security | Cobham Aerospace | Thales Media Day "AI" |
commercial activity | Communications | |
4 orders > €100m in Q1 2024, including 2 | Acquisition of Cobham Aerospace | Introduction of cortAIx, the AI accelerator |
contracts > €500m, for a total of €1.6bn | Communications completed | designed to expand the integration of AI |
on April 2nd, 2024 | technology into all sectors of activity |
Q1 2024 | 2 |
Q1 2024 Key figures
Change | ||||
€m | Q1 2024 | Q1 2023 | total | organic |
Order Intake | 5,037 | 3,422 | +47% | +46% |
Sales | 4,421 | 4,026 | +9.8% | +7.9% |
Strong Q1 order intake and sales, aligned with full year guidance
Q1 2024 | 3 |
Q1 2024 order intake
> Strong commercial activity driven by Defense & Security
> 4 large(a) orders booked in Q1 2024 for €1.6bn (vs. €0.4bn in Q1 2023)
Í Rafale Indonesia, tranche 3 (including support)
Í Major air surveillance contract for a military customer in the Middle East
Í ASTER ground-to-air missiles (contract France/Italy)
Í Next generation sonars contract for future submarines with French MoD
- Orders between €10m and €100m organically up by 46%
(a) With a unit value over €100m.
Order intake by contract unit value
€m | Organic growth: +46% |
5,037 | ||
3,422 | 1,612 | |
Unit value | ||
402 | > €100m | |
€10m < | 1,206 | |
826 | Unit value | |
< €100m | ||
Unit value < | ||
€10m | ||
2,194 | 2,218 | |
Q1 2023 | Q1 2024 |
Q1 2024 | 4 |
Q1 2024 sales growth
> Scope and currency impact
- Main scope impact resulting from:
- acquisitions of Imperva and Tesserent (DIS): +€131m
- divestment of Aeronautical Electrical Systems business (Aero): -€32m
- Minimal currency impact
- Robust organic sales growth, ahead of full year guidance: +7.9%
- Driven by Defence & Security outperformance
> Solid performance across geographies
- Europe: +11%
- Australia: +11%
- Emerging markets: +7%
Q1 sales growth drivers
€m
Reported growth: +9.8%
4,026 | +99 | +313 | 4,421 | |
Scope | -17 | Organic | ||
2.2% | Currency | growth | ||
-0.4% | 7.9% |
Q1 2023 | Q1 2024 | |
Q1 2024 | 5 |
Aerospace: Q1 2024 key figures
Change | ||||
€m | Q1 2024 | Q1 2023 | total | organic |
Order intake | 1,003 | 1,199 | -16% | -13% |
Sales | 1,182 | 1,156 | +2.3% | +5.1% |
> Order intake: on-going strong aeronautics demand; Space facing high comps
- Aeronautics' orders up double-digit organically
- Space down vs. high comps (2 large contracts in Q1 2023)
> Sales growth driven by both aeronautics and space
- Organic growth in aeronautics up high single-digit
- Space sales slightly up
Q1 2024 | 6 |
Defense & Security: Q1 2024 key figures
Change | ||||
€m | Q1 2024 | Q1 2023 | total | organic |
Order intake | 3,122 | 1,371 | +128% | +127% |
Sales | 2,305 | 2,037 | +13.1% | +13.4% |
> Order intake boosted by 4 large orders (vs. 1 in Q1 23)
- Total large orders amounted €1.6bn in Q1 2024 vs. €0.2bn in Q1 2023
- Orders between €10m and €100m up 50% vs. Q1 2023
> Strong, broad-based sales growth, aligned with full year guidance
- Double-digitgrowth across many activities, driven by projects and production ramp-up, vs. softer H1 2023
Q1 2024 | 7 |
Digital Identity & Security (DIS): Q1 2024 key figures
Change | ||||
€m | Q1 2024 | Q1 2023 | total | organic |
Order intake | 903 | 846 | +7% | -7% |
Sales | 916 | 818 | +12.0% | -2.5% |
- Q1 2023 Order Intake and Sales restated to include the cyber civil activities transferred from Defence & Security
- Soft quarter as expected vs. very high comps in Q1 2023 that showed +20% organic growth
- Digital activities performing in line with expectations
- Smart cards facing very high comps
Q1 2024 | 8 |
Reminder: 2024 financial objectives
Order intake | Book-to-bill above 1 |
Sales | +4% to +6% organic growth(a) |
corresponding to €19.7bn to €20.1bn(b) | |
EBIT margin(b) | 11.7% to 12.0%(a) |
- Based on February 2024 foreign exchange rates. Assuming no new major disruptions of the health situation, of the economic context, and of global supply chains.
- Non-GAAPmeasure: see definition in appendix.
Q1 2024 | 9 |
APPENDIX
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THALES SA published this content on 30 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 April 2024 05:05:01 UTC.
