Report
Antoine Boivin-Champeaux ...
  • Yan Derocles

Thales : La restructuration du Transport masque l’amélioration de l’activité sous-jacente

>Un exercice 2018 solide - Comme attendu, le millésime 2018 fut un bon cru avec une progression de l’EBIT de 23.4% à 1 685 M€ (Oddo : 1 668 M€, Cons : 1 662 M€) pour des ventes affichant une croissance organique vigoureuse de 5.3% (+0.1% au T4), soit une marge de 10.6% (+166bp). Cette belle performance s’explique essentiellement par la division Defence & Security qui atteint une marge de 12.6% portée par i/ une croissance organique des ventes de 5.6%, ii/ une bonne ex...
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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