Thales posts higher quarterly revenue, maintains targets

PARIS, April 24 (Reuters) - French defence, aerospace and cyber group Thales TCFP.PA reaffirmed its full-year forecasts on Thursday after posting stronger-than-expected first-quarter revenue, though new orders dropped compared with major arms deals recorded a year earlier.

The company, whose portfolio spans fighter radars to seat-back screens for airlines, said it was looking at ways of softening the impact of tariffs, which had so far had no direct impact on its goals for higher sales and profitability in 2025.

Thales posted quarterly sales of 4.96 billion euros, up 9.9% from the first quarter of 2024 on a like-for-like basis. New orders fell by a steeper-than-expected 27% to 3.78 billion, however, with defence falling short of analysts' forecasts.

Thales said the same quarter of 2024 had been bumped up by major contracts including part of an order from Indonesia for France's Rafale fighter jets, for which Thales builds radar.

Analysts had on average been expecting quarterly sales of 4.80 billion euros and an order intake of 4.86 billion euros, according to a company-compiled consensus.