ales group 06 full-year results

28.02.2017

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Thales's Board of Directors (Euronext Paris: HO) met on 27 February 2017 to close the 2016 financial statements (1)

Patrice Caine, Chairman & Chief Executive Officer, stated: 2016 represents another successful milestone for our profitable growth strategy. The order intake remained at a high level, outperforming sales for the fourth year in a row. Organic sales grew by 6.8%, with all of our businesses contributing to this performance, and profitability continued to increase in line with our medium-term targets. At the same time, we have increased our investments in innovation, digital transformation and talent development.

He added: On behalf of the Board of Directors, I would like to thank all of our teams for their commitment in support of the Ambition 10 strategy. Their implication enables Thales to drive a deep transformation that will foster profitable and sustainable growth.

Download the whole press release

Key figures

Order intake: 16.5 billion, down 13%

Sales: 14.9 billion, up 6.8% on an organic basis (2)

EBIT (3): 1,354 million, up 11% (up 15% on an organic basis)

Adjusted net income, Group share (3): 897 million, up 11%

Consolidated net income, Group share: 946 million, up 24%

Free operating cash flow (3): 954 million, 106% of adjusted net income

Dividend (4) up 18% to 1.60

2017 objectives: Mid-single digit organic sales growth.

EBIT between 1,480 and 1,500 million

In millions, except earnings per share and dividend (in ) 2016 2015 Total change Organic change

Order intake 16,514 18,880 -13% -11%

Order book at end of period 33,530 32,292 4% 5%

Sales 14,885 14,063 5.8% 6.8%

EBIT 1,354 1,216 11% 15%

in % of sales 9.1% 8.6% 0.5pts 0.6pts

Adjusted net income, Group share (2) 897 809 11%

Consolidated net income, Group share 946 765 24%

Adjusted net income, Group share, per share (2) 4.25 3.89 9%

Dividend per share (4) 1.60 1.36 18%

Free operating cash flow (2) 954 1,110 -14%

Net cash at end of period 2,366 1,978 20%

Notes

(1) At the date of this press release, the audit procedures have been completed and the Statutory Auditors report was in the process of being issued.

(2) In this press release, organic means on a constant scope and exchange rate basis.

(3) Non-GAAP measures, see definitions in the Appendices to the press release, page 10. The definitions of EBIT and adjusted net income were adjusted as of 1 January 2016 to exclude expenses recognised in income from operations that are directly attributable to business combinations. These adjustments impacted 2016 EBIT in an amount of 19 million and 2016 adjusted net income in an amount of 12 million (nil in 2015).

(4) Proposed to the Shareholders Meeting on 17 May 2017.

LINK:	https://www.thalesgroup.com/en/canada/press-release/thales-group-2016-...
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