Thales : Organic growth and operating leverage
>Growth still robust in Q3… - Thales posted a solid set of Q3 2018 figures yesterday, with sales growing by 9.9% organically to € 3.421bn (Oddo BHF: € 3.359bn, consensus: € 3.339bn) driven by i/ 19.2% l-f-l growth in the transport division with an acceleration in the mainline segment (which we believe is slightly more profitable than the urban segment) which should continue over the coming quarters thanks to contracts that have recently been won in Poland, Romania and...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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