NEUILLY-SUR-SEINE (dpa-AFX) - Thales (THLEF.PK) reported that its order intake and sales in the first-quarter were in line with its expectations. Looking forward, the Group confirmed all its objectives for fiscal 2019, and has set medium-term targets for the 2018-2021 period.
First-quarter sales were 3.36 billion euros compared to 3.41 billion euros, a year ago, down 1.5% on a reported basis, and down 2.0% at constant scope and currency. Order intake was 2.27 billion euros, down 25% from previous year when the Group booked the contract to modernise Australia's air traffic management system. Excluding this contract, order intake was up 4% from previous year.
For 2019, Thales expects order intake to be around 16 billion euros. Sales are expected to show organic growth of 3% to 4%. EBIT is projected in a range of 1.78 billion euros and 1.80 billion euros, up 6% to 7% compared to 2018.
Over the 2018-2021 period, Thales projects: an organic sales growth of 3% to 5% on average; and an EBIT margin of 11% to 11.5% by 2021.
On 13 June 2019, the Group will update its 2019 outlook to take into account the impact two ongoing transactions.
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