Thales : H1 preview – momentary slowdown in organic growth and more unfavourable FX
>Top-line growth a bit soft in H1… - For H1 2023, the results for which will be published on 21 July, we expect sales of € 8,633m, up 6.5% organically (with 9.2% in Q1 and 4.3%e in Q2) but with a more unfavourable currency effect than initially expected in Q2 (around -1.5%e). Defence & security will see a temporary slowdown in growth in Q2 along with a demanding base of comparison, with sales amounting to € 4.5bn. Aerospace will, as in Q1, benefit from a strong recove...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.
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.
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