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Electronics Production | November 13, 2006

Thales revenues up 4% in Jan-Sep

French Military & Defence EMS-provider Thales Group consolidated revenues for the first nine months of 2006 totalled €6,883m, an increase of 1% compared to revenues for the same period in the previous year.
At constant scope, consolidated revenues increased by 4% (+ 2% at end-June 2006) due to faster growth observed in Q3 (+ 8% at constant scope in Q3).

Changes in the scope of consolidation resulted in a net reduction in revenues of €201m. This was mainly due to the deconsolidation as of 1st January 2006 of Thales Broadcast & Multimedia and High Tech Optics, which were divested at end-2005, and to the deconsolidation as of 1st July 2006 of Navigation activities divested in the summer. These divestments have been partly offset by the consolidation of Diehl Luftfahrt Elektronik, in which Thales acquired 49% alongside its German partner Diehl Avionik, and by the full consolidation of TDA Armements which was 50%-held before September 2005.

Variations in revenues have also been impacted, although more moderately, by exchange rate fluctuations, in particular the evolution of the dollar vis-à-vis the euro. These fluctuations had a negative impact of €31m concerning the civil avionics business.

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