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Industry

Thales reports fall in orders and cuts full-year growth forecast

22 October 2019
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Thales on 22 October revealed a 6% year-on-year (y/y) drop in organic order intake to EUR10.44 billion (USD11.63 billion) in the first nine months of 2019, despite a strong performance in its Defence & Security segment.

The announcement came five days after the French aerospace and defence group cut its revenue growth forecast for 2019, citing slow sales of commercial satellites and production delays with the Hawkei Protected Mobility Vehicle – Light for the Australian Army.

Order intake for the nine months ended 30 September included a 14% decrease in the Aerospace segment (EUR2.63 billion) and a 32% drop in Transport (EUR868 million), although Defence & Security posted a 5% increase to EUR5.27 billion.

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