Thales reports 57% increase in H1 profit, confirms 2024 targets

French multinational aerospace and defence firm Thales announced on Tuesday a 57% increase in first-half profit and confirmed 2024 targets.

The company reported a first-half consolidated net income, group share, of €1.02 billion ($1.1 billion).

Earnings per share were €4.93 compared to €3.09.

Adjusted net income, group share, was €866 million, compared to €819 million.

Adjusted net income, group share, per share was €4.21, up 8% from €3.91.

Sales for the first half were €9.49 billion, compared with €8.72 billion in the prior year, an increase of 8.9% as reported, or up 6% at constant scope and exchange rates.

Order intake in the first half was €10.77 billion, up 26% from the prior year, or an increase of 23% on an organic basis.

Thales confirmed 2024 annual objectives, refining them as: organic sales growth of between 5% and 6%, corresponding to sales in the range of €19.9 billion to €20.1 billion; and an earnings before interest, taxes (EBIT) margin between 11.7% and 11.8%.