(Please read in §8 that the period relates to the third trimester and not nine months)
PARIS (Reuters) – Thales reported on Tuesday organic growth in its turnover over nine months of 7.5% to 12.854 billion euros, in the wake of the rebound in demand for equipment for aircraft. line and military defenses.
The French equipment manufacturer for aerospace, defense and security also indicated that its order intake declined by 18% in organic data over the January-September period compared to last year, while Thales had recorded at at the time a major order from the United Arab Emirates for Rafale fighter jets.
Orders over the first nine months of the year thus stood at 12.370 billion euros, i.e. below the level of turnover.
However, Thales reaffirmed its annual objectives, including a ratio of order intake to turnover greater than 1.
The group’s financial director declared that the decline in orders on an annual basis was also explained by the particularly strong demand for satellites in 2022. Pascal Bouchiat, however, added that civil aviation demonstrated “strong commercial dynamics” this year. .
He told reporters he had “no doubt” that Thales would record an orders-to-revenue ratio above 1 this year, adding that orders tended to increase during the fourth quarter.
Pascal Bouchiat thus indicated that the second tranche of an order recently placed by Indonesia for eighteen Rafale aircraft, for which Thales produces the radars, should be reflected in the results of the last quarter.
Thales said the Digital Identity and Security sector recorded a double-digit decline in payment cards and SIM cards in the third quarter, particularly in Asia.
Pascal Bouchiat said the recent microchip supply crisis that affected the group’s digital division appeared to be over. He added, however, that supply gaps persist in aerospace.
More generally, he also said, supply chains for hardware and mechanical components remain under significant pressure in several countries, affecting satellites and radars.
Thales is closely monitoring the situation of small suppliers who were unable to invest appropriately during the COVID pandemic and are now struggling to meet demand. In some cases, the group paid advances or provided other support measures.
“We remain very vigilant,” commented Pascal Bouchiat, adding that he hopes that the situation will gradually stabilize next year.
(Reporting by Tim Hepher, written by Jean Terzian, edited by Blandine Hénault)
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