NEUILLY-SUR-SEINE (dpa-AFX) - French technology company Thales (THLEF.PK) Thursday posted 4.1 growth in sales for the first quarter of 2018 from last year, with a 34 percent increase in order intake. Organically, sales grew 7.2 percent from last year, and order intake rose 39 percent.
For the first quarter, sales grew 4.1 percent to 3.41 billion euros from a restated 3.28 billion euros and reported 3.06 billion euros in the year-ago period. Aerospace revenues totaled 1.29 billion euros, and Defence and Security revenues were 1.73 billion euros.
Order intake in the quarter totaled 3.03 billion euros, up 34 percent compared to the year-ago period, and also rose 39 percent at constant scope and currency.
Patrice Caine, Chairman & CEO, said, 'Thales starts 2018 with a solid momentum. Sales are organically up by 7.2%, ahead of our full year target. Order intake is very strong, in particular thanks to the booking of a major air traffic management modernisation project in Australia. We confirm all of our financial objectives for 2018.'
Looking ahead, Thales affirmed its financial objectives for 2018.
Thales said that in spite of a more moderate growth in the aerospace segment, fiscal 2018 sales should see organic growth of between 4 and 5 percent compared to 2017 sales restated for the application of the IFRS 15 standard of 15.228 billion euros.
The company expects the 2018 order intake to be around 15.5 billion euros.
Further, Thales expects to deliver EBIT of between 1.62 billion euros and 1.66 billion euros in 2018, representing an increase of 19 percent to 22 percent compared to 2017 restated.
Therefore, the company expects to exceed its two mid-term objectives: the average organic sales growth in the 2016-2018 period should be over 5 percent, and the 2018 EBIT margin should be above the top end of the range set in April 2014.
Copyright RTT News/dpa-AFX