By Pierre Bertrand
Thales confirmed its targets for the year after sales and order intake figures for the first quarter of the year rose ahead of expectations.
The French aerospace-and-defense company said sales came to 4.42 billion euros ($4.55 billion), a 9.8% on year increase in reported terms and up 7.9% organically.
Growth in the period was driven by the company's defense and security unit, where sales grew 13% to EUR2.31 billion.
Orders for the three months to the end of March came to EUR5.04 billion, a 47% rise in reported terms or a 46% jump organically.
Defense and security orders in the period more than doubled to EUR3.12 billion from EUR1.37 billion in the prior-year quarter, as the unit benefited from strong orders.
The result compares with analysts' expectations of EUR3.65 billion in new orders and EUR4.36 billion in sales, according to a company-provided consensus.
The company confirmed its 2024 targets, including sales growth of between 4% and 6%, equating to sales in the EUR19.7 billion to EUR20.1 billion range.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
04-30-24 0129ET