July 23 (Reuters) - French defence and aerospace group
Thales raised its 2025 sales growth forecast on
Wednesday after posting higher first-half sales and profit amid
higher military spending in Europe.
Europe's largest defence electronics firm also said its
widely watched adjusted operating profit rose 12.7% on a
comparable basis to 1.25 billion euros, fractionally above
market forecasts, led by the Aerospace and Defence units.
The company, whose portfolio spans fighter radars to
seat-back screens for airlines, now expects 2025 sales growth of
between 6% and 7% instead of the 5% to 6% it had forecast
previously, pointing to full-year revenue between 21.8 billion
euros ($25.62 billion) and 22 billion euros.
Thales, partially owned by the French state, said sales rose
8.1% on a like-for-like basis to 10.27 billion euros in the
first half, while new orders fell 4% to 10.35 billion due to a
tough comparison with last year's surge in big-ticket deals.
Revenues were slightly lower than expected, though orders
came in ahead of expectations.
Analysts had on average been forecasting half-year sales of
10.35 billion euros and 9.02 billion euros of fresh orders, as
well as an adjusted operating profit of 1.22 billion euros,
according to a company-compiled consensus.
The increase in sales was mostly driven by defence and
avionics activities, CEO Patrice Caine told reporters.