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Electronics Production | March 07, 2012

Thales shows profit for 2011

Thales released its 2011 financial results yesterday, presenting net profit of 566 million euros. It's the first time the company has been profitable in two years.
Thales profit was up from a loss of 45 million euros in 2010. The company's order intake of 13 billion euros showed growth as well, thanks to a Mirage 2000 upgrade in India as well as strong performance in civil aeronautics, according to a company statement.

The Board of Directors of Thales met today to close the financial statements for 2011. Group Chairman and CEO Luc Vigneron commented:

"Although the economic environment worsened more markedly than expected, particularly in defence, our order intake increased and our revenues held up well. A marked upturn in our results is now underway, driven by better contract execution, the momentum of the Probasis plan and our stronger footprint in growth regions. On the basis of this strong performance, which confirms the relevance of our strategy, we are confident in our ability to continue to improve our results, despite the serious economic uncertainties in Europe."

Summary
Order intake: €13.21bn (+1% organic growth)
Revenues: €13.03bn, organically stable compared with 2010
EBIT : €749m (5.7% of revenues), compared with -€92m in 2010
Net profit, Group share: €566m compared with -€45m in 2010
Net cash: €192 m on the back of a continued steady generation of cash flow

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