Thales sees sales near or above its target as defence orders expand

Thales ($HO) reported €19.12 billion of orders in the first nine months of 2026, up 14% as reported and 15% organically. Revenue increased 7.6% as reported and 8.1% organically to €16.42 billion. Defence sales grew 13% organically, substantially ahead of Aerospace at 4% and Cyber and Digital at 0.2%, making defence the main contributor to group growth.

Management now expects annual organic sales growth at the upper end of its 6–7% target, potentially exceeding that range. It retained its 2026 adjusted EBIT-margin goal of 12.6–12.8%, a book-to-bill ratio above 1.1 and free-operating-cash-flow conversion of 100–110%. The stronger sales assessment does not constitute a new numerical range. Large contract awards improved visibility, but orders remain distinct from revenue earned through subsequent deliveries and project execution.

Sources:

• webdisclosure.fr
• Issuer release via MarketScreener