15-Feb-2011 11:48 AM

Thales to post 2010 loss but forecasts profits for 2011

Thales CEO Luc Vigneron forecast a “swift upturn” in operating profit in 2011 (Bloomberg, 15-Feb-2011). The company expects to report a 2010 operating loss of around EUR100 million, following charges of more than EUR700 million from aircraft contracts and other programmes. Thales reported revenue increased 2% year-on-year to EUR13.1 billion in 2010. The company forecast an even book-to-bill ratio in 2011 and 2012.