Thales 40 order intake EUR8.50B, -13% y/y

Thales 40 order intake EUR8.50B, -13% y/y

Thales Reports Strong Order Intake and Revenue Growth in First Nine Months of 2025

Aerospace and defense technology firm Thales Group reported robust financial performance for the first nine months of its fiscal year, with organic revenue and order intake exceeding analyst expectations, driven by elevated defense spending and avionics demand according to the report.

For the period ending September 30, 2025, Thales recorded organic revenue growth of 9.1%, totaling €15.26 billion. Its defense division, the company's largest segment, achieved 14% organic growth. Order intake also rose by 9% organically to €16.76 billion, surpassing the consensus analyst forecast of €15.72 billion.

The company secured several high-profile contracts, including an initial agreement with the SpaceRISE consortium for the IRIS² satellite constellation, a key project for the European Union's secure communications infrastructure. Despite this progress, Chief Financial Officer Pascal Bouchiat noted ongoing competitive pressures in the space sector, emphasizing that "telecom activity in the space sector remains an area under pressure".

Performance varied across segments. The Cyber & Digital division saw a 3.8% decline in sales, attributed to integration challenges following the 2023 acquisition of cybersecurity firm Imperva. Meanwhile, space activities aligned with expectations, though growth is projected to remain modest ("low single-digits") compared to defense and aerospace divisions.

Thales reaffirmed its annual targets, aiming for organic revenue growth of 6–7% in 2025, translating to total revenues of €21.8–22 billion, alongside an adjusted operating margin of 12.2–12.4%. The company's results reflect broader trends in defense and aerospace demand but highlight persistent challenges in the space and cybersecurity sectors.

Marketscreener, October 2025.