Thursday 3rd of May, Europe's major defense electronics group declared that first quarter 2018 saw a sales rose of 4%. This growth is led by its transport, defense and security units. The French multinational company that designs and builds electrical systems for aerospace, defense, transportation and security impressive markets shared.
Patrice Caine's group had a turnover of 3,28 billion euros on first quarter 2017 when it made a 3,41 billion euros turnover during first quarter 2018. this notable rise is mainly due to a project that is worth 500 million dollars to modernize air-traffic management infrastructure in Australia.
When aerospace revenues decreased of 0,3%, the in-flight entertainment and space revenues had been particularly strong and sustain Thales activity. In the same time, Thales share price is still growing to record high with a growth of 1,4% in early session trading and about 20% in one year.
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."
About Thales objectives, French company expects 4 to 5% higher underlying aerospace sales, but should exceed to mid-term objectives as 2016-2018 average organic sales growth should be over 5% and 2018 EBIT margin should be above the top end range set in April 2014.
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