26.07.2017
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Thales's Board of Directors met on 25 July 2017 to review the financial statements for the first half of 2016 [1].
Patrice Caine, Chairman and Chief Executive Officer, commented: At the end of June, Thales is once again confirming its growth momentum, with a solid order intake and a 5.9% organic sales growth, ahead of the full year target. The Group's profitability continues to increase, with EBIT and adjusted net income up by more than 15% for the third year in a row. At the same time, we are stepping up our R&D investments, which increased by more than 10% in H1 2017, in order to reinforce our technological leadership. These results reflect the strength of our business model and its ability to create value.
In parallel, the Group is consolidating its leading position in the digital transformation of its markets. We are investing 150 million over three years to set up a cross-functional digital factory' in order to capitalise on our unique portfolio of digital technologies. The strategic acquisition of Guavus, which is currently underway, will enable us to implement real-time big data solutions on an industrial scale across all of our businesses.
The first half reinforces our confidence in Thales's ability to achieve its full year targets and, as a result, record another year of growth in sales and profit.
Solid order intake: 6.0 billion, up 10%
Sales: 7.24 billion, up 5.9% on an organic basis [2]
EBIT [3]: 637 million, up 16% (up 17% on an organic basis)
Adjusted net income, Group share [3]: 424 million, up 15%
Consolidated net income, Group share: 336 million, down 12%
Very good level of free operating cash flow [3] for a first half year: 216 million
(H1 2016: 45 million)
2017 objectives confirmed
In millions, except earnings per share (in ) H1 2017 H1 2016 Total change Organic change
Order intake 5,972 5,423 10% 10%
Order book at end of period 31,861 33,530 [4] -5% -4%
Sales 7,241 6,846 5.8% 5.9%
EBIT [3] 637 551 16% 17%
in % of sales 8.8% 8.1% 0.7pts 0.9pts
Adjusted net income, Group share [3] 424 367 15%
Adjusted net income, Group share, per share [3] 2.00 1.74 15%
Consolidated net income, Group share 336 384 -12%
Free operating cash flow [3] 216 45 380%
Net cash at end of period 2,294 2,366 [4] -72
We are pleased to invite you to participate in our conference call in English:
Wednesday, 26 July 2017 at 8:30 am (CET)
Dial-in number from France: 33 (0) 1 70 77 09 47
International dial-in number: 44 (0) 203 367 94 59
It will be also possible to follow the conference call through a webcast by using the following link: http://edge.media-server.com/m/p/n2gi85f2
If you are unable to listen to the call live, a digital replay will be available a few hours after the end of the conference call and will remain available for 90 days. To access the replay, please dial 33 (0) 1 72 00 15 00 or 44 (0) 203 367 94 60 (code 309644#).
Notes
[1] The limited review of the financial statements has been completed and the statutory auditors' report has been issued following the meeting of the Board of Directors.
[2] Organic means at constant scope and currency.
[3] Non-GAAP measures, see definitions in the press release.
[4] At 31 December 2016
Documents
2017 Half-year results - Press release
2017 Half-year results - Slideshow
Interim condensed consolidated financial statements at 30 June 2017
Contact
C dric Leurquin, Media relations
33 (0)1 57 77 86 26
See the list of our contacts
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26.07.2017 
