NEUILLY-SUR-SEINE (dpa-AFX) - French technology company Thales (THLEF.PK) reported Thursday that its nine-month sales declined 5.6 percent to 11.71 billion euros from last year's 12.41 billion euros. Sales fell 10.5 percent on an organic basis.
Aerospace sales plunged 23.5 percent from last year to 2.90 billion euros, Transport sales declined 13.1 percent to 1.10 billion euros, and Defence & Security sales fell 3.6 percent to 5.47 billion euros.
In the third quarter, organic sales fell 4.3 percent, and order intake was in line with expectations.
Order intake for the nine months declined 12 percent on a reported basis and 18 percent on an organic basis to 9.18 billion euros.
Further, the company confirmed all fiscal 2020 financial objectives. Sales would be in the range of 16.5 billion euros to 17.2 billion euros, taking into account significant disruptions in civil aeronautics combined with the recovery of productivity in other segments.
Further, EBIT is still expected in the range of 1.30 billion euros to 1.40 billion euros, corresponding to an EBIT margin of around 8 percent for the full year.
In the second half, recurring operating margin is expected to return to a level close to last year's second half.
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