Thales reports its 2022 half-year results
- Order intake1: 鈧11.2 billion, up 46% (+43% on an organic basis2)
- Sales: 鈧8.3 billion, up 7.7% (+5.4% on an organic basis)
- EBIT3: 鈧891 million, up 23% (+21% on an organic basis)
- Adjusted net income, Group share2: 鈧726 million, up 23%
- Consolidated net income, Group share: 鈧566 million, up 31%
- Free operating cash flow3: 鈧820 million, 113% of adjusted net income, Group share
- Full year 2022 guidance upgraded4:
- Book-to-bill ratio5 significantly higher than 1
- Organic sales growth between +3.5% and +5.5%6
- EBIT margin target: 10.8% to 11.1% (unchanged)
Thales鈥檚 Board of Directors (Euronext Paris: HO) met on July 20, 2022 to review the financial statements for the first half of 20227.
Strong commercial momentum and the entry into force of the Rafale contract in the United Arab Emirates have enabled order intake to reach a record level of 鈧11.2 billion, reinforcing visibility on future activity.
Organic sales growth exceeded 5% again, driven in particular by the digital identity and security segment (DIS, formerly Gemalto), which achieved double-digit growth for the third consecutive quarter.
The EBIT margin and free operating cash flow were ahead of plan.
Given the robustness of activity in the first months of 2022, and despite a global environment marked by high uncertainties, we have decided to raise our full year order intake and sales growth targets.
Our roadmap for the coming months is clear: accelerate recruitment, strengthen the resilience of our supply chains and manage the consequences of inflation while continuing to implement all our strategic initiatives.
I would like to once again thank our 80,000 employees who relentlessly create value for our customers every day
Patrice Caine, Chairman & Chief Executive Officer
Key figures
|
In 鈧 millions except earnings and dividend per share (in 鈧) |
H1 2022 |
H1 2021 |
Total |
Organic |
|
Order intake |
11,208 |
7,665 |
+46% |
+43% |
|
Order book at end of period |
37,988 |
34,744 |
+9% |
+9% |
|
Sales |
8,256 |
7,669 |
+7.7% |
+5.4% |
|
EBIT8 |
891 |
722 |
+23.4% |
+21.1% |
|
as a % of sales |
10.8% |
9.4% |
+1.4 pts |
+1.4 pts |
|
Adjusted net income, Group share8 |
726 |
591 |
+23% |
|
|
Adjusted net income, Group share, per share8 |
3.41 |
2.78 |
+23% |
|
|
Consolidated net income, Group share |
566 |
432 |
+31% |
|
|
Free operating cash flow8: |
820 |
420 |
+400 |
|
|
Net cash (debt) at end of period8 |
-894 |
-2,4969 |
+1,602 |
|
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21/07/2022 14:00 CET - 28/07/2022 14:00 CET
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To view the complete press release, please download the PDF at the bottom.
Notes
1 In accordance with standard IFRS 5, the financial data for the 鈥渢ransport鈥 operating segment have been classified under 鈥渄iscontinued operations鈥 following entry into exclusive negotiations with Hitachi Rail with a view to disposing of this business.
2 In this press release, 鈥渙rganic鈥 means 鈥渁t constant scope and exchange rates鈥. See note on methodology on page 11 and calculation on page 16.
3 Non-GAAP financial indicators, see definitions in the appendices, page 11.
4 Previous targets: book-to-bill ratio above 1, sales between 鈧16.6 and 鈧17.2 billion, corresponding to organic growth between +2% and +6%.
5 Book-to-bill ratio: ratio of order intake to sales.
6 Corresponding to 鈧17.1 billion to 鈧17.5 billion based on July 2022 scope and exchange rates.
7 At the date of this press release, the limited review of the financial statements has been completed and the statutory auditors鈥 report has been issued following the meeting of the Board of Directors.
8 Non-GAAP financial indicators, see definitions in the appendices, page 12.
9 Net debt as at June 30, 2021.
