Thales Reports Strong Profitability in 2016 as Turnaround of Transport Segment Is Well On Track
Thales reported strong 2016 sales of EUR 14.9 billion, up 5.8% on a reported basis and 6.8% organically relative to the year-ago period. Revenue was slightly below our expected EUR 15.1 billion mark but reflects a welcome improvement in project execution for transport, as well as the start of invoicing on major projects won in 2015. In our August 2016 initiation note, we noted our expectations for margin expansion driven by strong growth of high-margin aerospace sales, operational leverage, rati...Thales is an electronics and systems group, serving defense, aeronautics, transport, space and security markets. Co.'s operations can be divided into four operating segments: Aerospace (Avionics, Space), Transportation (Ground Transport Systems), Defence & Security (Secure Communications & Information Systems Land and Air Systems, Defence Mission Systems), and DCNS. Co. designs and delivers systems for all four environments: air, land, sea and space. These systems detect and assess threats, manage information, support command decisions and control engagements through to threat neutralization. Co. is active in ground transportation; air transport; navigation systems.
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