Thales S.A.
Thales 2004 Interim Results/Ordinary pre-tax income up 25%/Net income doubled
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Thales 2004 Interim Results/Ordinary pre-tax income up 25%/Net income doubled
o Revenues up 3.3% on a like-for-like basis
o Stable operating income
o Marked improvement in EBIT thanks to lower restructuring costs
o Lower financial expense
o Ordinary pre-tax income higher, net income doubled
o Full-year outlook for 2004 confirmed
Outlook for 2004 confirmed:
Consolidated sales and operating income should be slightly higher than in
2003, mainly due to the gradual recovery in commercial aerospace and improved
performances in security businesses.
EBIT is likely to increase more substantially, after lower restructuring
costs, and ordinary pre-tax income is expected to improve very significantly
because of reduced financial expense. Full-year net income for 2004 should be
markedly higher than the EUR113 million posted in 2003.
“Looking beyond 2004, Thales’ growth will be driven by the group’s involvement
in several new major defence programmes: the Watchkeeper tactical UAV
programme in the United Kingdom and BOA, France’s future cooperative fighting
system – both of which endorse the future key role of network-enabled systems
– the United States’ Cluster 5 tactical radio programme, UK and France’s
aircraft carrier programmes as well as the Franco-Italian multi-mission
frigates.
This is a highly favourable outlook, underpinned by continuing investments
which enable Thales to offer its customers the most advanced solutions,
drawing on synergies between civil and military technologies and applications.
For example, the new generation of Thales avionics systems will equip both
the future A380 jetliner and the A400M military transport plane.
In security and services markets, Thales is positioned high in the value chain
within fast-growing segments such as transportation, national and collective
security, secure networks, satellite navigation and IT outsourcing.
The introduction in July of a new organisation based on six divisions (see
below) will mobilise all of our employees, including those in our multi-
domestic countries, to meet our future challenges. It strengthens my
confidence in our ability to achieve our growth and performance objectives. ”
Denis Ranque
Chairman & CEO, Thales
EURm 1st half 1st half
2003 2004
Consolidated revenues 4,557 4,573
Operating income 295 300
% of sales 6.5% 6.6%
EBIT 317 274
Ordinary pre-tax income before
financial component of pensions 176 243
Net income, Group share 37 82
Thales’ new organisation in six divisions:
Aerospace (12,900 employees)
– Avionics
– Airborne systems
– Computers
– Microwave
– Microelectronics
Air systems (8,300 employees)
– Air traffic management
– Air defence
– Galileo programme
Land & Joint systems (15,000 employees)
– Land systems
– Joint systems
– Communication & optronics
– Broadcast & multimedia
Naval (6,200 employees)
– Warship prime
– Above water systems
– Under water systems
– Naval services
Security (5,600 employees)
– Secure operations
– Information systems for energy & transport systems
– Navigation
– Electron tubes & special components
– Civil command & control systems
Services (10,800 employees)
– Information systems
– Engineering & consulting
– Outsourcing
– Training & simulation
– Telecommunications services
end of message, (c)DGAP 24.09.2004
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WKN: 850842; ISIN: FR0000121329; Index:
Listed: Amtlicher Markt in Düsseldorf und Frankfurt (General Standard);
Freiverkehr in Berlin-Bremen, Hamburg, München und Stuttgart
241209 Sep 04
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