Thales (HO)

Business description

Thales is a global defence and civil contractor operating in 50 countries, with 68,000 employees. It is structured in two divisions, aerospace & transport and security & defence, sharing advanced technology and drawing on complementary capabilities to provide often dual-use products.

A tricky year navigated

QuickView | Aerospace & Defence | 08/02/2012

Thales’ full year revenues and order intake aptly demonstrate the dichotomy of defence spending pressures and a buoyant civil aerospace market. With its balance of businesses, the flat organic revenues and book to bill ratio of over 1x show that where others with defence exposure are struggling, Thales is holding up, reflecting its combination of niche electronics exposure and diversified geographic spread. While uncertainty continues in Europe and the US, Thales’ Probasis restructuring plan is generating efficiencies that should allow the 2011 target EBIT margin of 5% to be met.

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