RNS Number:9498Z
Thales
14 August 2002
Paris, 14 August 2002
Thales H1 2002 sales rise 15 %
to EUR 5 billion
Thales group revenues totalled EUR 4,981 million in H1 2002, an increase of 15%
compared to H1 2001 (EUR 4,331 million). Revenues grew by 9.5 % on a
like-for-like basis, in line with the trend observed in Q1 sales.
The three business areas contributed to consolidated sales as follows:
1st Half 2002 2001
Total Organic
in Eurom in Eurom
Change Change
Defence 58 % 2,909 2,251
+ 29 % + 21 %
Aerospace 16 % 814 815
0 % - 7 %
Information Technologies & Services 25 % 1,224 1,224
0 % - 1 %
Others 1 % 34 41
Total 100 % 4,981 4,331
+ 15 % + 9.5 %
The sharp growth in H1 Defence sales, 21% on a like-for-like basis, follows
several years of increasing new orders. It also reflects the long term contract
schedules (according to percentage of completion). The fastest growing sectors
were airborne systems, air defence and naval systems.
In Aerospace, the sustained level of activity in Q2, particularly in the
simulation and training sector, contributed to offset the decline in Q1 sales.
Total revenues to 30th June 2002 were stable compared to H1 2001, decreasing
only by 7% on a like-for-like basis. This latter decrease applies mainly to
commercial avionics, as a result of the current civil aerospace downturn.
However, military sales remained stable compared to H1 2001.
IT&S sales were at the same level as in H1 2001. The fastest growing sectors
were positioning, secure transaction activities and Thales IS activities. Sales
of telecom-related activities were down, still affected by deteriorating market
conditions.
Revenue growth attributable to first-time consolidations is due, in Defence, to
the full consolidation of ADI (previously consolidated at 50%), Thales
Underwater Systems (Thales acquired the 49% previously held by BAE Systems); in
Aerospace, the full consolidation of Thales ATM, the air traffic management
subsidiary (following the acquisition of the remaining 33.3%); in IT & S, the
consolidation of Thales Navigation Inc. (acquired in July 2001 under the name of
Magellan). Thales Instruments, divested in November 2001, was consolidated until
October 31, 2001.
With these changes, sales by region compared to H1 2001 are as follows:
1st Half 2002 2001
Total
in Eurom
in Eurom Change
France 24 % 1,207 25 %
1,072 + 13 %
United Kingdom 15 % 745 16 %
707 + 5 %
Other European countries 19 % 916 20 %
746 + 8 %
Total Europe 58 % 2,868 61 %
2,625 + 9 %
Asia & Pacific 14 % 696 12 %
498 + 40 %
North America 11 % 564 12 %
540 + 4 %
Near and Middle East 11 % 568 11 %
473 + 20 %
Others 6 % 285 4 %
195 + 46 %
Total 100 % 4,981 100 %
4,331 + 15 %
Press contact:
Matt Pothecary
Tel : +33 (0) 1 53 77 86 26
This information is provided by RNS
The company news service from the London Stock Exchange
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