PARIS, Oct 22 (Reuters) - French defence electronics group Thales TCFP.PA posted a 6.1% quarterly g
PARIS, Oct 22 (Reuters) – French defence electronics group Thales TCFP.PA posted a 6.1% quarterly gross sales decline on weaker demand from coronavirus-hit aeronautics prospects however stated resilient army orders would maintain it on monitor to satisfy its full-year 2020 objectives.
Gross sales got here in at 3.963 billion euros ($4.7 billion) within the third quarter as new orders dropped 10% to three.088 billion, the Paris-based firm stated on Thursday, because it revealed its outcomes on its web site.
The decline was led by the aerospace division, the place gross sales fell 19% and orders by 26%, Thales stated. However the firm pointed to strong defence enterprise within the quarter, with extra to come back from a big German naval contract by year-end.
“We anticipate a really sturdy fourth quarter for defence and safety order consumption,” Chief Monetary Officer Pascal Bouchiat informed reporters, citing a pending deal to equip German Navy MKS 180 frigates.
Defence and safety, the most important division by income, recorded a 5.1% improve in gross sales to 1.881 billion euros for the three months ended Sept. 30.
Thales reiterated the lowered full-year objectives it unveiled in July in response to the pandemic – together with gross sales of 16.5-17.2 billion euros, earnings earlier than curiosity and tax (EBIT) between 1.Three billion and 1.Four billion, and a book-to-bill ratio above 1.
Different actions damage by the coronavirus disaster embody Thales’ doc safety enterprise, Bouchiat stated.
“Individuals are travelling much less, so there are fewer passport renewals,” he stated.
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(Reporting by Laurence Frost; Modifying by Tim Hepher)
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