Report
Olfa Taamallah ...
  • Yan Derocles

Thales : Preparation for acceleration in 2021 well on track

>Strong momentum for order intake … - The momentum in terms of order intake shows no sign of slowing. 2019 ended on a high, with a book-to-bill of 1.5x in Q4, including 1.8x for defence & security, driven by both large orders (21 for the full year, with 12 in Q4 alone) but also intermediate orders (10 at € 100m). Moreover, emerging markets which had weakened in 2018 and 2017 (-22% and -35% respectively in organic terms) are back on form, with l-f-l growth of 19% in 20...
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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