Thales updated its corporate strategy and financial targets to 2023 at its Capital Markets Day on 3 October as the group moves towards the final years of its Ambition 10 development strategy.
Describing "long-term robust momentum in most of its markets", Thales updated its medium-term objectives to include annual organic sales growth of 3-5% by 2023. The integration of Gemalto into the Digital Identity and Security (DIS) operating segment will offset "a more uncertain outlook in the commercial space market and no growth in transport over 2019-2023 after strong performance in 2018 [when that segment grew by 18%]".
Thales expects cost synergies of EUR120 million on a run-rate basis by 2022, including EUR20 million in 2019 and about EUR60 million in 2020.
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