French high-tech giant Thales saw its revenue increase to 5.3 billion euros and received orders, mainly in defense, for over 4.7 billion euros in the first quarter, which exceeded expectations. “We have had a start to the year above our expectations which gives us confidence,” said chief financial officer Pascal Bouchiat to the press.
Order intake amounted to 4.65 billion euros in the first three months of the year, a 23% increase compared to the same period in 2025. For the defense sector, order growth in the first quarter reached 71% at 2.2 billion euros. Thales recorded seven major orders with individual amounts exceeding 100 million euros, compared to five from the previous year.
Among these orders is one from the Danish Ministry of Defense for the production and delivery of anti-aircraft defense systems SAMP/T NG, where Thales competed against the American Patriot system. Another order was placed by Qatar for the supply of Ground Master radars to enhance the country’s airspace security. The Middle East conflict “reinforces the relevance of Thales’ solutions, particularly in terms of aerial surveillance and defense and war against submarine mines,” the group stated in a press release.
Asked about the impact of this war on Thales’ financials, Pascal Bouchiat pointed out that it was “a bit early” to measure the effects. He mentioned that a “significant” decline in air traffic could weigh on aerospace activities while demand for military equipment is on the rise. “We will be able to adjust our perspectives in July,” he emphasized during the semi-annual results.
Current forecasts remain unchanged with an organic revenue growth between 6 and 7% in the range of 23.3 to 23.6 billion euros. In the aerospace sector, revenue increased by 3.2% to 1.38 billion euros.
Regarding communication satellites, whose crisis affected the group’s financials and led to a plan to eliminate 1,300 positions, which was eventually put on hold in 2025 after redeploying two-thirds of the affected employees, “the trends remain the same,” with the market being “disrupted” by Elon Musk’s Starlink, as highlighted by Pascal Bouchiat in an interview with AFP.
