- First Half 2024 Results:
- Ebit: €1.10 billion, up 10% year-over-year (y/y), meets estimate of €1.09 billion.
- Segment Performance:
- Aerospace Ebit: €167 million, down 1.2% y/y, below estimate of €184.2 million.
- Defense & Security Ebit: €639 million, up 11% y/y, slightly below estimate of €647.1 million.
- Digital Identity & Security Ebit: €272 million, up 11% y/y, above estimate of €260.9 million.
- Ebit Margin: 11.5% vs. 11.4% y/y, meets estimate of 11.5%.
- Organic Ebit: Up 4.7%.
- Sales: €9.49 billion, up 8.9% y/y, slightly below estimate of €9.52 billion.
- Organic Sales: Up 6%, slightly below estimate of 6.36%.
- Adjusted Net Income: €866 million, up 5.7% y/y, above estimate of €843 million.
- Order Book: €46.96 billion, up 16% y/y.
- Net Debt Balance: €4.59 billion compared to €781 million y/y.
- Book-to-Bill Ratio: 1.13, up 15% y/y, above estimate of 1.08.
- Second Quarter 2024 Results:
- Sales: €5.07 billion, up 8.1% y/y, below estimate of €5.13 billion.
- Segment Sales:
- Aerospace: €1.40 billion, up 6.5% y/y, meets estimate.
- Defense & Security: €2.63 billion, up 5.1% y/y, below estimate of €2.73 billion.
- Digital Identity & Security: €1.02 billion, up 19% y/y, above estimate of €974.8 million.
- Organic Sales: Up 4.4%, below estimate of 6.03%.
- Order Intake: €5.73 billion, up 11% y/y, above estimate of €5.17 billion.
- Organic Orders: Up 8%.
- Year Forecast 2024:
- Ebit Margin: Expected 11.7% to 11.8%, saw 11.7% to 12%, estimate 11.9%.
- Sales: Expected €19.9 billion to €20.1 billion, saw €19.7 billion to €20.1 billion, estimate €20.09 billion.
- Organic Sales: Expected +5% to +6%, saw +4% to +6%, estimate +6.22%.
- Book-to-Bill Ratio: Expected above 1, estimate 1.11.
- Comments:
- CEO Patrice Caine confirmed ongoing talks with Airbus on potential space activities tie-up, no further comments provided.
- Space business Ebit margin expected to be negative for the full year.
A look at Thales SA Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 3 | |
| Growth | 3 | |
| Resilience | 3 | |
| Momentum | 5 | |
| OVERALL SMART SCORE | 3.2 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Thales SA‘s long-term outlook appears promising based on its Smartkarma Smart Scores. The company scores highest in Momentum, indicating a strong trend in its stock price and a positive market sentiment. Thales also scores well in Dividend, Growth, and Resilience, showcasing stability and potential for future growth. However, its Value score is relatively lower, suggesting that the stock may be slightly overvalued compared to its intrinsic worth. Overall, Thales SA, a manufacturer of aerospace systems and industrial electronics products serving both civilian and military markets, seems to have a solid foundation for continued success in the future.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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