Thales’s Board of Directors (Euronext Paris: HO) met on 23 July 2021 to review the financial statements for the first half of 2021. [1]
Commercial momentum was especially strong in space, defense and cybersecurity.
On a pro forma basis, EBIT was already close to its 2019 level. The robust improvement in Transport and Digital Identity and Security (DIS – formerly Gemalto) almost entirely offset the steep decline in Aerospace, which remained affected by the consequences of the health crisis on the civil aeronautics market.
Free operating cash flow was well ahead of plan.
These results illustrate the commitment and professionalism of Thales teams, whom I want to thank warmly.
Given the robustness of growth over the first months of 2021, we are raising our sales target for the year. We now expect sales of between €17.5 billion and €18 billion.
The world of tomorrow requires digital solutions contributing to a safer, more sustainable, and more inclusive world, which widens the scope of growth opportunities for Thales. All Group teams are mobilized to support our customers in this transformation.”
Patrice Caine, Chairman & Chief Executive Officer
• Order intake: €8.2 billion, up 35% (+37% on an organic basis [2])
• Sales: €8.4 billion, up 8.7% (+9.8% on an organic basis)
• EBIT [2]: €768 million, up 121% (+119% on an organic basis)
• Adjusted net income, Group share [3]: €591 million, up 155%
• Consolidated net income, Group share: €433 million, up 565%
• Free operating cash flow [3]: €420 million
• 2021 sales target upgraded: sales now expected between €17.5 billion and €18.0 billion [4]
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In € millions, except earnings and dividend per share (in €) |
H1 2021 |
H1 2020 |
Total change |
Organic change |
|
Order intake |
8,244 |
6,092 |
+35% |
+37% |
|
Order book at end of period |
34,629 |
31,662 |
+9% |
|
|
Sales |
8,423 |
7,751 |
+8.7% |
+9.8% |
|
EBIT [3] |
768 |
348 |
+121% |
+119% |
|
as a % of sales |
9.1% |
4.5% |
+4.6 pts |
+4.6 pts |
|
Adjusted net income, Group share [3] |
591 |
232 |
+155% |
|
|
Adjusted net income, Group share, per share [3] |
2.78 |
1.09 |
+155% |
|
|
Consolidated net income, Group share |
433 |
65 |
+566% |
|
|
Free operating cash flow [3] |
420 |
-471 |
+891 |
|
|
Net cash (debt) at end of period [3] |
-2,496 |
-3,928 [5] |
+1,432 |
|
We are pleased to invite you to participate to this Conference Call or Webcast, in English, on:
Friday, July 23, 2021 at 8:30 AM (CET)
Dial-in the following numbers:
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Telephone conference numbers and confirmation code |
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Dial in details: |
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Standard international: +44 (0) 2071 928338 |
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Ø France, Paris (Local): +33 (0) 170700781 |
Ø France (FreeCall): 0805101465 |
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Ø United Kingdom (Local): +44 (0) 8444819752 |
Ø United Kingdom (FreeCall): 08002796619 |
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Ø United States, New York (Local): +16467413167 |
Ø United States (FreeCall): +18778709135 |
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Confirmation Code: 2079972 |
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It will be also possible to follow the conference call through a Webcast by using the following link:
https://edge.media-server.com/mmc/p/dzrfhq8a
If you are unable to listen to the call, please find below the “REPLAY” Dial in details:
23/07/2021 14:00 CET - 30/07/2021 14:00 CET
- France: +33 (0)1 70 95 03 48
- Standard International: +44 (0) 3333009785
- Confirmation Code: 2079972
Notes
[1] The limited review of the financial statements has been completed and the statutory auditors’ report has been issued following the meeting of the Board of Directors
[2] “Organic” means at constant scope and currency. See note on methodology and calculation in press release
[3] Non-GAAP financial indicators, see definitions in the appendices of the press release
[4] Previous target, set on 3 March 2021: €17.1 billion to €17.9 billion.
[5] Net debt at 30 June 2020.