Thales SA

Latest Results (27.10.2025):

Thales SA has reported its robust financial results for the full year of 2024, showcasing significant growth in order intake, sales, and profitability. The company continues to strengthen its position in the Defence, Aerospace, Cybersecurity, and Digital sectors, supported by a record order book and solid operational performance.

Order Intake

Thales recorded an order intake of €25.3 billion for the 2024 financial year, marking a 9% increase from 2023 and a 6% growth on an organic basis. This achievement highlights strong demand in the Defence segment and sustained momentum in Aerospace.

Sales Performance

Sales surged to €20.6 billion in 2024, representing an 11.7% rise compared to the previous year and an 8.3% growth organically. The Defence business notably contributed to this robust sales performance.

Adjusted EBIT

Adjusted EBIT reached €2,419 million, up by 13.4% from 2023 and improving by 5.7% on an organic basis. This growth reflects the company's effective operating leverage and strong financial management.

Adjusted Net Income

The adjusted net income attributable to the Group stood at €1,900 million, a 7% increase from the previous year, underscoring Thales' ability to generate profitable growth.

Consolidated Net Income

Consolidated net income for the Group was €1,420 million, a significant 39% increase year-over-year. This surge was partly due to the removal of a non-recurring expense related to pension scheme commitments in 2023.

Free Operating Cash Flow

Free operating cash flow from continuing operations was €2,142 million, up 9% from 2023. Including discontinued operations, free operating cash flow remained stable at €2,027 million, maintaining strong cash generation capabilities.

Dividend Declaration

The Board of Directors proposed a dividend of €3.70 per share, representing 40% of the adjusted net income. An interim dividend of €0.85 per share was paid on December 5, 2024, with the remaining €2.85 scheduled for May 22, 2025.

Non-Financial Performance

Thales made steady progress towards its medium to long-term sustainability targets, earning a place in the CAC 40 ESG index in 2024, highlighting the validity of its CSR strategy.

2025 Objectives

Looking ahead to 2025, Thales aims to achieve a book-to-bill ratio above 1, organic sales growth between 5% and 6% (€21.7 billion to €21.9 billion), and an adjusted EBIT margin ranging from 12.2% to 12.4%, continuing its trajectory of accelerated and sustainable growth.