Financials Thales

Equities

Market Closed - Euronext Paris Other stock markets 11:35:09 2024-12-06 am EST			5-day change	1st Jan Change
141.80 ^EUR	-0.25%		+0.21%	+5.86%

Dec. 06	Thales: successful launch of Sentinel-1C satellite	CF
Dec. 05	Airbus sheds 2,000 jobs, toning down earlier planned cuts	RE

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	18,401	16,989	16,192	17,569	18,428	20,058	21,429	22,790
Change	-	-7.67%	-4.69%	8.5%	4.89%	8.85%	6.83%	6.35%
EBITDA ¹	2,727	2,530	2,348	2,405	2,582	3,134	3,448	3,728
Change	-	-7.23%	-7.19%	2.44%	7.36%	21.35%	10.04%	8.12%
EBIT ¹	2,008	1,352	1,649	1,935	2,132	2,357	2,670	2,946
Change	-	-32.67%	21.97%	17.34%	10.18%	10.55%	13.27%	10.33%
Interest Paid ¹	-196.6	-186.3	-131.3	-75.9	-141	-201.3	-224	-192.6
Earnings before Tax (EBT) ¹	1,447	582	1,282	1,346	1,255	1,772	1,951	2,085
Change	-	-59.78%	120.27%	4.99%	-6.76%	41.19%	10.12%	6.86%
Net income ¹	1,122	483	1,089	1,121	1,023	1,341	1,614	1,867
Change	-	-56.95%	125.47%	2.94%	-8.74%	31.12%	20.32%	15.67%
Announcement Date	2/26/20	3/4/21	3/3/22	3/8/23	3/5/24	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2019 Q3	2019 Q4	2020 Q1	2020 Q2	2020 Q3	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2023 Q1	2023 Q2	2023 Q3	2024 Q1	2024 Q2	2024 Q3
Net sales ¹	4,220	5,991	3,899	3,852	3,963	3,416	5,007	3,555	4,970	3,730	4,526	4,042	4,026	4,690	4,138	4,420	5,071	4,576
Change	-	41.97%	-34.92%	-1.2%	2.87%	-13.8%	46.57%	-29%	39.8%	-24.95%	21.34%	-10.69%	-0.4%	16.49%	-11.77%	6.81%	14.73%	-9.76%
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Charge d'intérêts	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	11/26/19	2/26/20	4/24/20	7/24/20	12/4/20	5/6/21	7/23/21	12/3/21	3/3/22	4/21/22	7/21/22	10/26/22	5/16/23	7/21/23	10/31/23	4/30/24	7/23/24	10/23/24

¹EUR in Million

Estimates

Fiscal Period: December	2020 S1	2020 S2	2021 S1	2021 S2	2022 S1	2022 S2	2023 S1	2023 S2	2024 S1	2024 S2
Net sales ¹	7,751	9,238	8,423	7,769	8,256	9,313	8,716	9,712	9,493	10,567
Change	-	19.18%	-8.82%	-7.76%	6.27%	12.8%	-6.41%	11.43%	-2.25%	11.32%
EBITDA	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-
EBIT ¹	348	1,004	768	881	891	1,044	993	1,139	1,096	1,268
Change	-	188.51%	-23.51%	14.71%	1.14%	17.17%	-4.89%	14.7%	-3.78%	15.69%
Charge d'intérêts	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT)	-	-	499.2	782.8	654	-	-	-	-	-
Change	-	-	-	56.81%	-16.45%	-100%	-	-	-	-
Net income	-	-	433	656.4	566	-	-	-	-	-
Change	-	-	-	51.59%	-13.77%	-100%	-	-	-	-
Announcement Date	7/24/20	3/4/21	7/23/21	3/3/22	7/21/22	3/8/23	7/21/23	3/5/24	7/23/24	-

¹EUR in Million

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	3,311	2,562	795	35.2	4,000	3,130	2,028	881
Change	-	-22.62%	-68.97%	-95.57%	11,263.64%	-21.75%	-35.21%	-56.56%
Announcement Date	2/26/20	3/4/21	3/3/22	3/8/23	3/5/24	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
CAPEX ¹	503.3	386.9	450.8	534.6	625.6	713.2	744.5	776.8
Change	-	-23.13%	16.52%	18.59%	17.02%	14%	4.4%	4.33%
Free Cash Flow (FCF) ¹	1,372	958.7	2,256	2,491	2,026	1,754	1,895	2,191
Change	-	-30.12%	135.31%	10.41%	-18.66%	-13.41%	8.03%	15.6%
Announcement Date	2/26/20	3/4/21	3/3/22	3/8/23	3/5/24	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Profitability
EBITDA Margin (%)	14.82%	14.89%	14.5%	13.69%	14.01%	15.62%	16.09%	16.36%
EBIT Margin (%)	10.91%	7.96%	10.18%	11.01%	11.57%	11.75%	12.46%	12.93%
EBT Margin (%)	7.86%	3.43%	7.92%	7.66%	6.81%	8.83%	9.11%	9.15%
Net margin (%)	6.1%	2.84%	6.73%	6.38%	5.55%	6.69%	7.53%	8.19%
FCF margin (%)	7.46%	5.64%	13.93%	14.18%	10.99%	8.75%	8.84%	9.61%
FCF / Net Income (%)	122.28%	198.49%	207.15%	222.19%	198.04%	130.79%	117.43%	117.35%
Profitability
ROA	4.95%	2.97%	3.37%	3.33%	2.79%	4.39%	4.89%	5.34%
ROE	25.2%	17.74%	18.74%	16.43%	25.25%	23.93%	24.18%	24.22%
Financial Health
Leverage (Debt/EBITDA)	1.21x	1.01x	0.34x	0.01x	1.55x	1x	0.59x	0.24x
Debt / Free cash flow	2.41x	2.67x	0.35x	0.01x	1.97x	1.78x	1.07x	0.4x
Capital Intensity
CAPEX / Current Assets (%)	2.74%	2.28%	2.78%	3.04%	3.39%	3.56%	3.47%	3.41%
CAPEX / EBITDA (%)	18.45%	15.29%	19.2%	22.23%	24.23%	22.76%	21.59%	20.83%
CAPEX / FCF (%)	36.68%	40.36%	19.98%	21.46%	30.88%	40.65%	39.29%	35.45%
Items per share
Cash flow per share ¹	8.307	6.321	12.7	14.25	7.249	12.04	12.87	13.8
Change	-	-23.91%	100.97%	12.16%	-49.12%	66.07%	6.93%	7.25%
Dividend per Share ¹	2.65	1.76	2.56	2.94	3.4	3.402	3.804	4.293
Change	-	-33.58%	45.45%	14.84%	15.65%	0.06%	11.81%	12.85%
Book Value Per Share ¹	25.61	24.03	30.43	34.14	33.05	36.78	40.93	45.89
Change	-	-6.18%	26.66%	12.17%	-3.2%	11.28%	11.29%	12.12%
EPS ¹	5.28	2.27	5.12	5.29	4.91	7.023	8.177	9.474
Change	-	-57.01%	125.55%	3.32%	-7.18%	43.02%	16.44%	15.86%
Nbr of stocks (in thousands)	212,662	212,680	212,957	211,730	208,476	205,380	205,380	205,380
Announcement Date	2/26/20	3/4/21	3/3/22	3/8/23	3/5/24	-	-	-