Thales posts revenue of 8.3 bn euros till September

October 31st, 2008 - 9:43 pm ICT by IANS  

New Delhi, Oct 31 (IANS) Bucking the global economic meltdown, French aerospace major Thales has posted consolidated revenues of 8.3 billion euros till September, a 7 percent increase from the 8.1 billion euros in the corresponding year-on-year period, the conglomerate said Friday.”In a particularly uncertain and chaotic economic and financial environment, where certain new aircraft programmes are delayed and the first signs of a slowdown in the market for aerospace spares can be observed, Thales continues to enjoy a positive business trend as evidenced by the growth in orders and revenues as at Sept 30,” a company statement said.

“The objective of six percent organic growth of revenues for the full year can, therefore, be confirmed,” the statement added.

Exchange rate fluctuations during the first nine months of the year impacted revenues by minus 380 million euros, primarily as a result of the conversion into euros of the revenues of subsidies based outside the euro zone.

The main fluctuations involved the weakening of the dollar (minus 158 million) and the pound (minus 176 million) against the euro.

Thales’ Aerospace and Space division recorded higher revenues of 12 percent at 2.6 billion euros than in the same period of 2007, the company said, adding that sales by the aerospace division rose by eight percent.

Space revenues were up 20 percent over the first nine months “with very strong growth in military revenues as a result of the start of the Yahsat programme for the United Arab Emirates”, the statement said.

The Defence division, which includes the Land and Joint Systems and the Naval and Air Systems divisions, saw increased revenues of seven percent at 3.5 billion euros on the first nine months of 2007, “with sustained growth by the first two divisions offsetting a slight decrease in revenues by the third”, the company said.

At 2 billion euros, the Security division’s revenues fell by one percent “despite the positive trend in rail signalling systems, critical information systems and special components”, Thales said.

The company’s new order intake for the first nine months of 2008 stood at 9 billion euros, an increase of 23 percent over the 7.5 billion euros for the same period of 2007.

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