Report
Olfa Taamallah ...
  • Yan Derocles

Thales : La croissance est de retour

>Une belle performance en FCF mais avec des éléments de phasage - Au-delà des résultats solides, le FCF de 420 M€ au S1 était clairement la bonne surprise de la publication mais la société a indiqué que certains éléments devaient plutôt être analysés comme des décalages de phasages à l’image du paiement anticipé de certains clients ou du remboursement d’impôts. Sur 2021, l’objectif implicite ressort à c1.3 Md€ contre un peu moins de 1 Md€ précédemment après i/ intégra...
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
Olfa Taamallah

Yan Derocles

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