THALES Thales: consensus as of 24 April 2019
View by operating segment
Growth rates | |||||||||||||||
Order intake | Q1 2018 | Q1 2019 | 2018 | 2019 | 2020 | 2021 | 2022 | Q1 2019 | 2019 | 2020 | 2021 | 2022 | |||
Aerospace | 751 | 800 | 5,346 | 5,500 | +6% | +3% | |||||||||
Transport | 488 | 250 | 1,858 | 1,914 | -49% | +3% | |||||||||
Defence & Security | 1,782 | 1,250 | 8,775 | 9,038 | Insufficient number | -30% | +3% | ||||||||
Digital identity and security (DIS) | NM | ||||||||||||||
of respondents | |||||||||||||||
Of which: Gemalto standalone | NM | ||||||||||||||
Of which: D&S activities transferred to DIS | NM | ||||||||||||||
Other | 11 | 11 | 55 | 53 | NM | NM | |||||||||
Total order intake | 3,032 | 2,311 | 16,034 | NM | -24% | NM | |||||||||
# of participants | 5 | 3 | |||||||||||||
Sales | Q1 2018 | Q1 2019 | 2018 | 2019 | 2020 | 2021 | 2022 | ||||||||
Aerospace | 1,285 | 1,298 | 5,780 | 5,908 | 6,087 | 6,270 | 6,479 | +1% | +2% | +3% | +3% | +3% | |||
Transport | 386 | 401 | 2,001 | 2,080 | 2,168 | 2,253 | 2,332 | +4% | +4% | +4% | +4% | +4% | |||
Defence & Security | 1,729 | 1,764 | 8,020 | 8,213 | 8,638 | 8,998 | 9,370 | +2% | +2% | (**) | +5% | +4% | +4% | ||
Digital identity and security (DIS) | 2,466 | 3,327 | 3,501 | 3,643 | +35% | +5% | +4% | ||||||||
Of which: Gemalto standalone | 2,311 | 3,165 | 3,281 | 3,420 | +37% | +4% | +4% | ||||||||
Of which: D&S activities transferred to DIS | 203 | 222 | 248 | 219 | +9% | +12% | -12% | ||||||||
Other | 11 | 11 | 55 | 55 | 55 | 55 | 55 | NM | NM | NM | NM | NM | |||
Total sales | 3,412 | 3,473 | 15,855 | 18,722 | 20,275 | 21,076 | 21,879 | +2% | +18% | +8% | +4% | +4% | |||
# of participants | 12 | 12 | 12 | 12 | 10 | ||||||||||
EBIT (*) | Q1 2018 | Q1 2019 | 2018 | 2019 | 2020 | 2021 | 2022 | ||||||||
Aerospace | 580 | 622 | 648 | 682 | 711 | +7% | +4% | +5% | +4% | ||||||
Transport | 88 | 106 | 154 | 182 | 194 | +20% | +45% | +18% | +7% | ||||||
Defence & Security | 1,007 | 1,024 | 1,090 | 1,165 | 1,182 | +2% | +6% | +7% | +1% | ||||||
Digital identity and security (DIS) | 220 | 382 | 487 | 544 | +27% | +12% | |||||||||
Of which: Gemalto standalone | 189 | 344 | 456 | 514 | +33% | +13% | |||||||||
Of which: D&S activities transferred to DIS | 26 | 25 | 29 | 29 | +16% | +1% | |||||||||
Other | 10 | 18 | 23 | 22 | 36 | NM | NM | NM | NM | ||||||
Total EBIT | 1,685 | 1,990 | 2,297 | 2,538 | 2,666 | +18% | +15% | +11% | +5% | ||||||
# of participants | 12 | 12 | 12 | 10 | |||||||||||
EBIT margin | Q1 2018 | Q1 2019 | 2018 | 2019 | 2020 | 2021 | 2022 | EBIT margin evolution (points) | |||||||
Aerospace | 10.0% | 10.5% | 10.6% | 10.9% | 11.0% | +0.5 | +0.1 | +0.2 | +0.1 | ||||||
Transport | 4.4% | 5.1% | 7.1% | 8.1% | 8.3% | +0.7 | +2.0 | +1.0 | +0.3 | ||||||
Defence & Security | 12.6% | 12.5% | 12.6% | 13.0% | 12.6% | -0.1 | +0.1 | +0.3 | -0.3 | ||||||
Digital identity and security (DIS) | 8.9% | 11.5% | 13.9% | 14.9% | +2.5 | +2.4 | +1.0 | ||||||||
Of which: Gemalto standalone | 8.2% | 10.9% | 13.9% | 15.0% | +2.7 | +3.0 | +1.1 | ||||||||
Of which: D&S activities transferred to DIS | 12.8% | 11.1% | 11.5% | 13.1% | -1.7 | +0.4 | +1.6 | ||||||||
Other | NM | NM | NM | NM | NM | NM | NM | NM | NM | ||||||
Total EBIT margin | 10.6% | 10.6% | 11.3% | 12.0% | 12.2% | +0.0 | +0.7 | +0.7 | +0.1 | ||||||
View at group level
Q1 2018 | Q1 2019 | 2018 | 2019 | 2020 | 2021 | 2022 | |||
Adjusted Net Income, group share (*) | 1,178 | 1,367 | 1,597 | 1,805 | 1,913 | ||||
Average number of shares outstanding | 212 | 212 | 212 | 212 | 212 | ||||
Adjusted EPS | 5.55 | 6.44 | 7.52 | 8.50 | 9.01 | ||||
Free Operating Cash Flow (*) | 811 | 1,030 | 1,520 | 1,660 | 1,804 | ||||
Net cash (debt) at end of period | 3,181 | -1,301 | -514 | 340 | 1,372 | ||||
# of participants | 11 | 11 | 11 | 10 | |||||
+16% | +17% | +13% | +6% |
+16% | +17% | +13% | +6% |
+27% | +48% | +9% | +9% |
The consensus is composed of the forecasts of analysts who follow Thales results on a regular basis. The following broking firms contributed to the consensus at 24 April 2019 shown above: Alpha Value, Bank of America Merrill-Lynch, Citi, CM-CIC, Credit Suisse, Exane, Goldman Sachs, Kepler Cheuvreux, Mainfirst, Oddo Securities, Redburn and UBS. This information was collected between 15 and 23 April 2019 directly from the sell-side analysts. It is provided by Thales solely for information purposes and may not be necessarily complete. Its publication by Thales shall under no circumstances be regarded as a validation or approval by Thales of all or part of these forecasts. It does not represent the opinions, forecasts or forward-looking statements of Thales, or of its management. In consequence, Thales cannot be held responsible for any of the information, statement or data contained in or omitted from this table.
(*)Non-GAAPmeasures, see definitions on page 27 of the 2018 registration document (**) Implied 2019 D&S growth without scope effects = +6%
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THALES SA published this content on 24 April 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 24 April 2019 13:07:08 UTC
