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.  

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%. 

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

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.