14-Jun-2019 10:28 AM

Thales updates 2019 financial objectives, projects EUR120m in cost synergies with Gemalto

Thales published (13-Jun-2019) an update of its 2019 financial objectives following the integration of Gemalto on 01-Apr-2019, and the disposal of its General Purpose Hardware Security Module (GP HSM) business, deconsolidated since 01-Jan-2019 and finalised on 07-Jun-2019. Key outlook highlights include:

  • Order intake slightly above EUR18 billion;
  • Organic sales growth between 3% and 4% (unchanged);
  • EBIT between EUR1980 million and EUR2000 million;
  • EUR120 million of run-rate cost synergies from integration of Gemalto, at the top end of the initially announced range, after taking into account the disposal of the GP HSM business;
  • Digital Identity and Security operating segment:
    • Organic sales growth between 0% and 2%, in line with expectations;
    • EBIT between EUR240 million and EUR260 million, corresponding to an underlying margin of around 10%, comparable to the rest of the Group. [more - original PR]

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