Thales raises growth forecast after new orders, 9-month sales €16.42bn
Business
Thales, the French defense and aerospace giant, just bumped up its sales growth forecast after landing a wave of new orders.
The company now expects to hit or even beat the top end of its earlier 6% to 7% growth estimate.
This comes as nine-month sales reached €16.42 billion, well above what analysts predicted.
Thales secures nearly €11.32bn defense contracts
Most of Thales's momentum came from defense, with nearly €11.32 billion in new contracts for things like radars for Romania and air defense systems across Europe.
The aerospace side also took off, jumping 29% thanks to a major satellite deal.
Despite all this action, Thales is still aiming for an adjusted earnings before interest and taxes margin between 12.6% and 12.8% this year.