PARIS, May 6 (Reuters) – French defense and technology group Thales posted higher than expected first quarter revenue and orders as it returned to growth following the coronavirus crisis.
The French group said quarterly revenue increased 1.9% on a like-for-like basis to 3.917 billion euros ($ 4.70 billion), driven by demand for military radars and cybersecurity and offsetting the drop in l civil aerospace activity strongly impacted by the pandemic.
Order intake jumped 31% to 3.416 billion euros thanks to sales of French Rafale to Greece and France, for which Thales manufactures radars, and a Franco-Italian air defense system, as well as a broadband satellite for Indonesia.
Thales has confirmed its forecast for the full year which includes sales of 17.1 to 17.9 billion euros and new orders exceeding sales.
Thales declined to comment on the fate of its rail signaling business after Reuters announced last month that the company was seeking buyers under a potential deal worth at least € 1.5 billion , while Thales streamlined its operations.
“We never comment on this type of rumor,” CFO Pascal Bouchiat told reporters.
He noted that Thales is in the middle of a routine annual review of its strategy, but did not give further details.
Thales’s results have been published on the company’s website.