Thales's Board of Directors (Euronext Paris: HO) met on 23 July 2021 to review the financial statements for the first half of 2021. [1]

'Thales's H1 2021 results recorded a sharp rebound, once again demonstrating the resilience of our business model and the relevance of the strategic choices - both technological and industrial - implemented.

Commercial momentum was especially strong in space, defense and cybersecurity.

On a pro forma basis, EBIT was already close to its 2019 level. The robust improvement in Transport and Digital Identity and Security (DIS - formerly Gemalto) almost entirely offset the steep decline in Aerospace, which remained affected by the consequences of the health crisis on the civil aeronautics market.

Free operating cash flow was well ahead of plan.

These results illustrate the commitment and professionalism of Thales teams, whom I want to thank warmly.

Given the robustness of growth over the first months of 2021, we are raising our sales target for the year. We now expect sales of between EUR17.5 billion and EUR18 billion.

The world of tomorrow requires digital solutions contributing to a safer, more sustainable, and more inclusive world, which widens the scope of growth opportunities for Thales. All Group teams are mobilized to support our customers in this transformation.'

Patrice Caine, Chairman & Chief Executive Officer

Order intake: EUR8.2 billion, up 35% (+37% on an organic basis [2])

Sales: EUR8.4 billion, up 8.7% (+9.8% on an organic basis)

EBIT [2]: EUR768 million, up 121% (+119% on an organic basis)

Adjusted net income, Group share [3]: EUR591 million, up 155%

Consolidated net income, Group share: EUR433 million, up 565%

Free operating cash flow [3]: EUR420 million

2021 sales target upgraded: sales now expected between EUR17.5 billion and EUR18.0 billion [4]

See more at: https://www.thalesgroup.com/en/group/investors/press-release/2021-half-year-results

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