PR Newswire/Les Echos/ Thales: Order intake and sales at 31 March 2013 Neuilly-sur-Seine, 25 April 2013 - Thales (NYSE Euronext Paris: HO) is today releasing its order intake and sales figures for the first quarter of 2013. * Order intake: EUR2.05 billion, down 21% organically due to several major orders having been received in the first quarter of 2012 * Sales: EUR2.76 billion, up 5% organically(1) * 2013 objectives confirmed: Slight growth in order intake, stable sales and 5-8% increase in EBIT(2) compared to 2012 Key figures at 31 March 2013 Q1 2013 Q1 2012 Total change Organic (in millions of euros) change Order intake Aerospace 904 951 -5% -1% Transport 310 626 -50% -51% Defence & Security 740 976 -24% -24% DCNS 77 49 +57% +58% Others 19 22 -14% -14% Total 2,050 2,624 -22% -21% Sales Aerospace 859 884 -3% +3% Transport 240 255 -6% -5% Defence & Security 1,383 1,314 +5% +6% DCNS 257 215 +20% +20% Others 16 15 +7% +7% Total 2,755 2,683 +3% +5% It should be noted that quarterly fluctuations in sales (a significant percentage of which is booked as technical milestones achieved pursuant to the terms of the different contracts) and order intake cannot be extrapolated for a single quarter and may differ markedly from long-term trends. This applies even more when considering a single business segment in isolation. (1) In this press release, "organic" means "on a like-for-like basis and at constant exchange rates" (2) After restructuring and before impact of purchase price allocation ("PPA"). Order intake New orders in the first quarter of 2013 totalled EUR2,050 million, down 22% compared to the same period in 2012, largely due to the concentration of large orders in the Transport segment in the first quarter of 2012 (renovation of signalling for main lines in Denmark, Compass metro line in Singapore). At 31 March 2013, the consolidated order book amounted to EUR28,989 million, representing over two years of sales. Only one order with a unit value of over EUR100 millionwas recorded in the period (multi-annual contract for simulation and training services for British A400M crews), compared to three in the first quarter of 2012. Orders with a unit value of less than EUR10 millioncontinued to represent more than half the orders received in terms of value. New orders for the Aerospace segment amounted to EUR904 million, compared to EUR951 million at the end of March 2012 (-1% organically). Avionics activities benefited from the above-mentioned contract for over EUR100 million and the continued growth in commercial avionics on-board activities for Airbus as well as for business and regional aviation, but in-flight entertainment orders did not match the high level of the first quarter of 2012. Space activities saw a growth in orders, mainly in observation and exploration satellites (Exomars and Cosmo-Skymed NG programmes, for the European and Italian space agencies respectively). In the Transport segment, new orders came to EUR310 million, compared to EUR626 million in the first quarter of 2012, which had seen a concentration of major orders. Several commercial successes should be noted in the first quarter, especially urban signalling contracts in Canada, main lines in Poland and Spain, and revenue collection systems in New Zealand. The Defence & Security segment recorded new orders totalling EUR740 millioncompared to EUR976 million at the end of March 2012. New orders for Secure Communications and Information Systems were down, especially in radio and protection systems. New orders for Defence Mission Systems were also down following major orders obtained in the first quarter of 2012 (electronic combat systems in the UK and sonars in Australia). On the other hand, new orders for Land and Air Systems were up, thanks to air traffic management contracts in Africa and air defence in Asia. New orders at DCNS totalled EUR77 millionat 31 March 2013, compared to EUR49 million at 31 Macrh 2012. The main orders during the quarter were for additions to the FREMM multi-purpose frigate programme in France and the Mistral-class projection and command ship (BPC) for Russia. Group sales came to EUR2,755 millionat 31 March 2013, up 5% at constant scope and exchange rates(1). Sales in the Aerospace segment came to EUR859 million, up 3% organically compared to the first quarter of 2012. Avionics were up, due to original equipment commercial activities (Airbus, Bombardier and Gulfstream), aftermarket and in-flight entertainment. Space activities recorded stable sales overall, with an increase in observation and exploration activities. The Transport segment generated sales of EUR240 million, down compared to 31 March 2012 (EUR255 million), with the activity generated on recent orders in urban rail and in ticketing not fully offsetting lower sales in main lines activity, especially in Europe, over the first quarter. Sales in the Defence & Security segment came to EUR1,383 millionin the first three months of the year, up 6% organically. This positive trend is due mainly to Defence Mission Systems activities, thanks to an increase in billing on the Rafale programmes in France (ramp up of the 4th tranche, ordered in 2009), Watchkeeper in the UK and Mirage 2000 in India. Sales of Secure Communications and Information Systems were stable in the first quarter of 2013, while Land & Air Systems decreased (particularly in armaments). DCNS sales came to EUR257 millionat 31 March 2013, up 20% compared to 31 March 2012; in particular sales were higher for the FREMM multi-purpose frigate in France and the Mistral-class projection and command ship (BPC) for Russia. (1) Foreign exchange had a negative impact of EUR7 milloi n on sales and was mainly due to the depreciation of the pound sterling against the euro. Outlook for 20131 Thales confirms the outlook communicated on 28 February 2013 along with the release of the full-year results for 2012. Despite the continuing unfavourable economic environment in Europe, the Group is anticipating a slight upturn in orders in 2013, largely due to the expected performance in the emerging countries. Sales are likely to remain stable, with the growth in civil activities offsetting a less favourable situation in defence. A continuing drive to improve performance should enable the Group to post a further increase in EBIT(2), which should increase by 5-8% compared to 2012. Media relations: Investor relations: Alexandre Perra Jean-Claude Climeau / Romain Chérin Tel: +33 (0)1 57 77 86 26 Tel: +33 (0)1 57 77 89 02 email@example.com firstname.lastname@example.org For more information: http://www.thalesgroup.com This press release may contain forward-looking statements. Such forward-looking statements are trends or objectives, as the case may be, and shall not be construed as constituting forecasts regarding the Company's results or any other performance indicator. These statements are by nature subject to risks and uncertainties as described in the Company's registration document ("Document de référence") filed with Autorité des Marchés Financiers. These statements do not therefore reflect future performance of the Company, which may be materially different. (1) Excluding exceptional export contract. (2) After restructuring and before impact of purchase price allocation ("PPA"). APPENDIX > Definition of segments (IFRS 8 Operating Segments) - Aerospace: Avionics, Space - Transport: Ground Transportation Systems - Defence & Security: Secure Communications and Information Systems, Land & Air Systems, Defence Mission Systems - DCNS: DCNS proportionally consolidated at 35% > Order intake by destination - Q1 2013 (in millions of euros) Q1 2013 Q1 2012 Reported Organic Q1 2013 change change in % France 438 539 -19% -17% 21% United Kingdom 288 208 +38% +41% 14% Other European countries 482 793 -39% -35% 24% Europe 1,208 1,540 -22% -18% 59% United States and Canada 209 446 -53% -54% 10% Australia and New Zealand 164 109 +50% +52% 8% Asia 320 368 -13% -14% 16% Middle East 67 102 -34% -32% 3% Rest of the World 82 59 +39% +40% 4% Emerging markets 469 529 -11% -11% 23% Order intake 2,050 2,624 -22% -21% 100% > Consolidated sales by destination - Q1 2013 (in millions of euros) Q1 2013 Q1 2012 Reported Organic Q1 2013 change change in % France 877 830 +6% +8% 32% United Kingdom 324 316 +3% +5% 12% Other European countries 450 523 -14% -9% 16% Europe 1,651 1,669 -1% -2% 60% United States and Canada 299 284 +5% +2% 11% Australia and New Zealand 157 132 +19% +20% 6% Asia 392 333 +18% +20% 14% Middle East 159 123 +29% +30% 6% Rest of the World 97 142 -32% -31% 3% Emerging markets 648 598 -8% +9% 23% Sales 2,755 2,683 +3% +5% 100% The content and accuracy of news releases published on this site and/or distributed by PR Newswire or its partners are the sole responsibility of the originating company or organisation. 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Thales - Order intake and sales at 31 March 2013
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