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French aerospace and defense giant, Thales, exceeded analysts’ forecasts with its third quarter sales reaching EUR4.14 billion ($4.40 billion). The company’s robust performance was primarily propelled by a 13% organic growth in its aerospace sector, bringing in EUR1.16 billion, and an 8.1% increase in defense and security units to EUR2.14 billion.
The third quarter results showed a 2.4% reported and 7.2% organic increase in sales across the board for Thales. Despite the overall positive figures, the company’s digital identity segment experienced a slight dip of 1.5%, bringing it down to EUR811 million.
In contrast to the healthy sales figures, Thales’s total order intake saw a decrease of 10% reported and 6% organically, falling to EUR3.81 billion across all units.
Nonetheless, Thales maintains an optimistic outlook for the future. The company has set an ambitious organic sales growth target of 5% to 7% for the year 2023, indicating confidence in its ability to navigate the challenges ahead and continue its growth trajectory.
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