Full Year 2024 Thales SA Earnings Call Transcript
Key Points
- Thales (THLEF) achieved a record order intake of EUR 25.3 billion in 2024, with a book-to-bill ratio of 1.23, indicating strong demand across its portfolio.
- The company reported an 8.3% organic sales growth, surpassing the EUR 20 billion mark for the first time, driven by strong performance in the Defense sector.
- Adjusted EBIT grew by 13%, with an improved EBIT margin of 11.8%, reflecting operational efficiency and profitability.
- Thales (THLEF) successfully integrated acquisitions like Imperva and Cobham AeroComms, contributing positively to the company's financial performance.
- The company achieved significant progress in its corporate social responsibility goals, including a 56.8% reduction in Scope 1 and 2 CO2 emissions and increased gender diversity in senior management.
- The Space business posted a negative adjusted EBIT due to ongoing restructuring efforts and market challenges, impacting overall profitability.
- Higher financial expenses were incurred due to increased debt from recent acquisitions, affecting net income growth.
- The Digital identity segment faced challenges, particularly in the banking and payment solutions markets, leading to slower growth.
- Supply chain issues, particularly in PCBs, remain a concern, requiring ongoing management and investment to ensure stability.
- The company's future growth in Defense is contingent on converting political statements into actual contracts, which may take time to materialize.
Good morning, ladies and gentlemen, and thank you for standing by. Welcome to today's Thales full year 2024 conference call. The presentation will be held by Patrice Caine, Thales CEO; and Pascal Bouchiat, Thales CFO. (Operator instructions) I must advise you that this conference is being recorded.
I would now like to send the conference over to Ms. Alexandra Boucheron, VP, Head of Investor Relations. Please go ahead, madam.
Good morning. Welcome, and thank you for joining us for the presentation of Thales 2024 full-year results. I am Alexandra Boucheron, Thales' Head of Investor Relations. With me today are Patrice Caine, Chairman and CEO; and Pascal Bouchiat, CFO.
The presentation will be followed by a Q&A session. As usual, this presentation is audio webcasted live on our webcast at thalesgroup.com, where the slides and the press release are also available for download. Finally, a replay will be available soon after the end of the event.
With that, I would like to turn
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