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Order intake: 15.6 billion, up 23% on an organic basis1 ( 26% total change)
Sales: 14.1 billion, up 6.2% on an organic basis ( 9.4% total change)
2024 targets confirmed:
Book-to-bill ratio above 1
Organic sales growth between 5% and 6%2
EBIT margin: 11.7% to 11.8%
Thales (Euronext Paris: HO) today announced its order intake and sales for the period ending September 30, 2024.
Reminder: 9m 2023 figures have been restated to include Cyber civil activities transferred from Defence and Security to Digital Identity & Security.
The third quarter confirmed the continued strong commercial momentum and organic sales growth in most of Thales' businesses.
The Defence business enjoyed unparalleled visibility thanks to emblematic long-term contracts. Avionics was driven by the recovery in air traffic and solid growth prospects. The cybersecurity and biometrics businesses benefited from a robust environment.
We are also proud of Thales' inclusion in the CAC 40 ESG index. This is a strong external endorsement of our non-financial performance and of our contribution to the protection of society, the planet and citizens.
We are confident that we will achieve our annual financial targets for 2024, thanks to our teams' unwavering involvement.
Patrice Caine, Chairman & Chief Executive Officer
Order intake Order intake over the first nine months of 2024 amounted to 15,551 million, up 23% on an organic basis4 compared with the first nine months of 2023 (up 26% total change). The Group continued to benefit from an excellent commercial momentum in all its businesses, particularly in Defence & Security.
Over the period, Thales recorded 19 large orders with a unit value of more than 100 million, the cumulative amount of which came to 4,983 million:
Four large orders booked in Q1 2024:
The entry into force of the third phase of the order placed by Indonesia in 2022 for the purchase of 42 Rafale aircraft (18 aircraft and support services);
Order of an aerial surveillance system for a military customer in the Middle East;
Second tranche of the contract signed in 2023 between France and Italy for the production of 400 ASTER B1NT ground-to-air missiles;
Phased contract with the French Defence Procurement Agency (DGA) to develop the next generation of sonars to equip French nuclear-powered ballistic-missile submarines (SSBN).
Eight large orders booked in Q2 2024:
Order of two new F126 frigates by the German Navy. This additional contract brings the number of F126 frigates acquired by the German Navy to six in the past four years;
Exomars 2028, a contract signed between industrial prime contractor Thales Alenia Space and the European Space Agency (ESA) to relaunch the European space mission dedicated to the exploration of the Red Planet;
Order by SKY Perfect JSAT to Thales Alenia Space of JSAT-31, a new generation of satellite reconfigurable in orbit using Space INSPIRE technology;
Order by France's Joint Munitions Command (SiMu) of tens of thousands of 120mm rifled ammunition;
Order for a next generation cloud native FLYTEDGE InFlight Entertainment System for a major worldwide airline;
Order by an Asian customer of latest-generation Ground Master 400 Alpha long-range air surveillance radars;
Order by the Dutch Ministry of Defence of seven additional Ground Master 200 multi-mission compact radars;
Service contract for the maintenance of the Royal Australian Navy fleet.
Seven major orders recorded in Q3 2024:
Order for the supply of communications, vetronics, navigation and optronics equipment for vehicles in the French Armys SCORPION program;
Order for the renovation of an air traffic management system;
Order from the UK Ministry of Defence for the supply of LMM missiles to strengthen Ukraines air defence capabilities;
Order of LMM missiles for the British armed forces;
Order for the supply of Ground Fire multifunction radars and engagement modules following France's acquisition of seven SAMP/T NG air defence systems;
Order for the supply of anti-submarine warfare systems for the first phase of the construction of six HUNTER-class frigates for the Royal Australian Navy;
Notification by the DGA of the second tranche of the development of the future RBE2 XG radar for the Rafale F5.
At 10,567 million, order intake with a unit value of less than 100 million increased by 6% compared to the first nine months of 2023; while order intake with a unit value of less than 10 million was up by 7% at September 30, 2024.
From a geographical5 point of view, order intake in mature markets recorded organic growth of 12%, to 11,413 million, driven by strong sales momentum in the United Kingdom (up 28% on an organic basis) as well as in Australia and New Zealand (up 34% on an organic basis). Order intake in emerging markets amounted to 4,137 million, with strong organic growth of 69% as at September 30, 2024. This performance reflected excellent momentum in the Near and Middle East (up 175% on an organic basis) and in Asia (up 49% on an organic basis).
Order intake in the Aerospace segment totaled 3,639 million, versus 3,403 million over the first nine months of 2023 ( 8% at constant scope and exchange rates). This increase reflects two contrasting trends. On the one hand, the avionics market remained strong, our activities growing double-digit organically. On the other hand, the order intake in the space business declined due to a high comparison basis (two large orders signed as at September 30, 2024 versus five as of September 30, 2023).
At 8,951 million (compared with 6,404 million for the first nine months of 2023), order intake in the Defence & Security segment continued to record a strong momentum, with organic growth of 40%. Seven new orders with a unit value of more than 100 million in the third quarter were a
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