French defence and electronics company Thales has rebounded from the pandemic. Its first-half revenues increased 9.8%, following a 37% increase in new orders. Further, overall operating income has doubled to €768mn, raising projected 2021 sales to almost €18bn. That’s a steady string of numbers, so we’ll put it plainly: Thales is on track to have an excellent year.
‘Thales H1 2021 results once again demonstrated the resilience of our business model’, said Patrice Caine, Thales Chairman and CEO. ‘Given our growth over the first months of 2021, we will be raising our sales target for the year’.
What Sectors Does Thales Serve?
Broadly, Thales seeks to help companies make better decisions at the best possible time. But it specialises in five critical areas:
- Ground Transportation
- Digital Identity and Security
With operations in 68 countries and 80,000 employees, Thales essentially protects the security of countries and companies around the globe. Stated the company: ‘We’re proud of the role we play in a world that’s increasingly mobile—and dangerous’.
What Were the 2021 Half Year Results?
As of July 23rd, 2021—today—this is the state of Thales’s finances:
- Order intake: €8.2bn, up 35%
- Sales: €8.4bn, up 8.7%
- Adjusted net income: €591mn, up 155%
- Free operating cash flow: €420mn
- Upgraded 2021 sales target: between €17.5bn and €18.0bn
These projections, of course, assume that COVID variants will be kept at bay and the semiconductor supply chain will quickly recover—assumptions that may not hold through its third quarter. ‘[Business as usual] continues to be disrupted’, noted Caine. But the Thales mission still stands. He added: ‘We require digital solutions that contribute to a safer, more sustainable, and more inclusive world. And our teams will mobilise to support this transformation’.