Report
Antoine Boivin-Champeaux ...
  • Yan Derocles

Thales : 2018 an excellent vintage… pending the integration of Gemalto

>2018: an excellent vintage - 2018 is an excellent vintage! Thales is set to report 2018 earnings on 26 February and we expect guidance to be exceeded on most metrics. We are forecasting an order intake in the region of € 15.7bn (vs a target of € 15.5bn), i.e. a book-to-bill of 0.99x, thanks to a very good Q4 (especially in the aerospace and defence activities), albeit penalised by demanding comparative bases. Whilst satcom activity remained sluggish (just one contrac...
Underlying
Thales SA

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.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Antoine Boivin-Champeaux

Yan Derocles

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