PARIS May 3 France's Thales on Wednesday posted
an 11.9 percent rise in first-quarter revenues compared with
the same period a year ago, led by its aerospace division and
reaffirmed its 2017 and medium-term financial targets.
Quarterly sales rose 11 percent on an underlying basis to
3.058 billion euros ($3.34 billion), while the intake of fresh
orders fell 1 percent, or 2 percent on an underlying basis, to
2.281 billion euros. Underlying sales growth excludes the impact
of any changes in corporate structure and exchange rates.
Europe's largest defence electronics company said quarterly
aerospace sales, which rose 17.3 percent, were lifted by a
favourable comparison in its civil In-Flight Entertainment
business which had performed sluggishly a year earlier.
Robust growth in the Space business also contributed to the
strong quarterly sales.
But Thales cautioned that overall second-quarter sales
growth would suffer from the reverse effect after a strong
second quarter last year in the Transport and Aerospace
After strong orders in the past two years, Thales predicts a
lower order intake of 14 billion euros in 2017.
It also expects mid-single digit underlying growth in sales
and a 9-11 percent increase in operating profit to 1.48-1.5
billion euros this year.
($1 = 0.9148 euros)
(Reporting by Tim Hepher, Cyril Altmeyer; Editing by Diane