France-based defence and security company Thales has registered the sales of €4.026bn in the first quarter (Q1) of the fiscal year (FY) 2023.

This represents 7.9% increase on a reported basis and 9.4% increase on an ‘organic’ or fixed scope and exchange rates basis, compared to €3.73bn in Q1 of FY22.

The company has attributed this growth to strong dynamics and mature market in different regions, especially Europe and North America.

Thales’ Defence & Security segment alone contributed €2.079bn in the overall sales for the FY23’s reported quarter, which is 5.4% (on organic basis) higher than €1.950bn sales registered in Q1 of FY22.

Besides, the Aerospace segment’s sales totalled to €1.153bn in the Q1 FY23, a 10.2% organic increase from €1.025bn sales recorder during the same period in FY22.

In terms of order intake in Q1 FY23, Thales witnessed 14% growth, on organic basis, to €3.422bn, while the same was €3.033bn in last year’s Q1.

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The company’s Defence & Security business saw 31% organic rise in order intake to €1.441bn in Q1 FY23, versus €1.099bn in Q1 FY22.

However, the order intake in Aerospace segment during this quarter was down by 3%, on an organic basis, to €1.197bn. The same was €1.182bn Q1 FY22.

Thales CEO and chairman Patrice Caine said: “The beginning of 2023 confirms the robust momentum of all our businesses, with organic sales growth ahead of the annual target, driven in particular by the civil aeronautics and biometrics businesses. Order intake for the first quarter of 2023 was solid.

“We remain focused on our growth strategy in buoyant markets and confirm all our financial targets for 2023.”

The company highlighted that its order intake and sales across different segments in Q1 FY23 is currently in alignment with the expectations

Thales is targeting 4% to 7% of growth in sales on an organic basis for the entire FY2023, while operating margin is expected between 11.5% and 11.8%.