Q order intake and sales 3 May 2018

Transcription

1 Q order intake and sales 3 May

2 Q highlights OneSKY jumbo contract in Australia: modernization of ATM covering 11% of world airspace Digital traffic management system ordered by Norway for nationwide network KONNECT VHTS: Very large telecom satellite ordered by Eutelsat Offer launched and financing finalized 1.5bn bonds raised at less than 1% Q order intake and sales - 2

3 Q key figures m Q Q (IFRS 15) total Change organic Order intake 3,032 2, % +39% Sales 3,412 3, % +7.2% Book-to-bill ratio Order intake boosted by large contracts, organic sales growth ahead of full year target Q order intake and sales - 3

4 Q order intake Solid commercial dynamics : +34% (+39% organic growth) m Order intake by contract unit value 3 large orders (a) OneSKY Air Traffic Management contract Renovation of signaling system on one of the main railways in Poland 2, % Unit value > 100m 3,032 1, additional Rafale combat aircraft ordered by Qatar m < Unit value < 100m 449 Small orders (b) affected by negative quarter-to-quarter phasing effects 1,603 Unit value < 10m 1,385 (a) With a unit value of more than 100m (b) With a unit value of less than 10m Q order intake and sales - 4 Q Q1 2018

5 Q organic sales growth Higher than usual currency impact Negative 94m impact, 2.9% of Q1 17 sales Main drivers: US $, Australian $, GBP and Canadian $ Geographically broad-based organic sales growth Strong growth in emerging markets Continuing solid growth in mature markets (a) In this presentation, "organic" means "at constant scope and exchange rates" +8.7% +6.6% Organic (a) sales growth Mature markets +16.6% +8.9% Emerging markets +11.0% Q Q % Total Q order intake and sales - 5

6 Aerospace: Q key figures m Q Q change (IFRS 15) total organic Order intake % -16% Sales 1,285 1, % -0.3% Order intake down compared to Q Q orders included one large satellite contract Stable sales, due to high comps (sales organically up 16.2% in Q1 2017) Q order intake and sales - 6

7 Transport: Q key figures m Q Q change (IFRS 15) total organic Order intake % +132% Sales % +29.3% Order intake strongly up, including two significant contracts Sales growth driven by progress on large urban rail contracts won in 2015 and 2016, combined with acceleration in mainline signaling business Q order intake and sales - 7

8 Defence & Security: Q key figures m Q Q change (IFRS 15) total organic Order intake 1,782 1, % +68% Sales 1,729 1, % +9.5% Order intake strongly up, thanks to OneSKY jumbo contract Broad-based sales growth: surface radars, naval and aircraft systems, military telecommunication networks, civil cybersecurity Q order intake and sales - 8

9 2018 financial objectives Order intake Around 15.5bn Sales (a) Organic growth between 4% and 5% EBIT (b) 1,620-1,660m (c) (a) Compared to restated IFRS 15 sales of 15,228m (b) Non-GAAP measure: see definition in appendix (c) Based on February 2018 scope and foreign exchange rates Q order intake and sales - 9

10 Next stage of the Ambition 10 journey Wednesday 6 June 2018 from 8:30am to 4.30pm Capital Markets Day Thales Gennevilliers site (near Paris) Do not forget to register! Unable to locate your invitation? Questions? IR team at IR@thalesgroup.com Q order intake and sales - 10

11 Appendix

12 Upcoming events Annual General Meeting 23 May 2018 Dividend payment (a) 1 st June 2018 Capital Markets Day 6 June 2018 H results 20 July 2018 (before market) Q3 and 9m 2018 sales 18 October 2018 (a) Subject to the Annual General Meeting approval on 23 May 2018, ex-dividend date: 30 May Q order intake and sales - 12

13 Q order intake by destination m Q1 18 Q1 17 (IFRS 15) total change organic France % -22% United Kingdom % -18% Rest of Europe % +42% Europe 1,258 1,209 +4% +6% North America % +34% Australia/NZ x4.9 x5.4 Mature markets 2,496 1, % +59% Asia % -56% Middle East % +133% Rest of the world % -28% Emerging markets % -12% Asia 6% Australia/ NZ 32% Middle RoW East 2% 10% France 14% North America 9% UK 3% Other European countries 24% Total 3,032 2, % +39% Q order intake and sales - 13

14 Q sales by destination m Q1 18 Q1 17 (IFRS 15) total Change organic France % +9.8% United Kingdom % +6.5% Rest of Europe % +1.0% Europe 1,956 1, % +6.2% Middle East 9% RoW 5% France 29% North America % +1.1% Australia/NZ % +23.5% Asia 14% Mature markets 2,463 2, % +6.6% Asia % +16.8% Middle East % -6.5% Rest of the world % -19.6% Emerging markets % +8.9% Australia/ NZ 5% North America 10% Other European countries 19% UK 9% Total 3,412 3, % +7.2% Q order intake and sales - 14

15 Organic sales growth per quarter Q1 15 Q2 15 Q3 15 Q4 15 Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Aerospace +3% +6% -4% +1% -1% +13% +15% +7% +16% +1% -2% +1% -0% Transport -3% -7% +3% +15% +14% +40% +15% -13% +7% -4% +8% +28% +29% Defence & security -5% +19% +2% +7% +13% +3% +14% -3% +8% +5% -3% +22% +10% Total +11% +6% +7% +10% +15% +11% +3% +15% +7% -2% -0% -1% -2% Q order intake and sales - 15

16 Q order intake by operating segment m Q Q change (IFRS 15) total organic Aerospace % -16% Transport % +132% Defence & Security 1,782 1, % +68% Other Total 3,032 2, % +39% Q order intake and sales - 16

17 Q sales by operating segment m Q Q change (IFRS 15) total organic Aerospace 1,285 1, % -0.3% Transport % +29.3% Defence & Security 1,729 1, % +9.5% Other Total 3,412 3, % +7.2% Q order intake and sales - 17

18 Definition of non-gaap measures and other remarks Rounding of amounts in euros In the context of this presentation, the amounts expressed in millions of euros are rounded to the nearest million. As a result, the sums of the rounded amounts may differ very slightly from the reported totals. All ratios and variances are calculated based on underlying amounts, which feature in the consolidated financial statements. Definitions Organic: at constant scope and exchange rates; Book-to-bill ratio: ratio of orders received to sales; Mature markets: All countries in Europe excluding Russia and Turkey, North America, Australia and New Zealand; Emerging markets: All other countries, i.e. Middle East, Asia, Latin America and Africa. Non-GAAP measures This presentation contains non-generally Accepted Accounting Principles (GAAP) financial measures. Thales regards such non-gaap financial measures as relevant operating and financial performance indicators for the Group, as they allow non-operating and non-recurring items to be excluded. Thales definitions for such measures may differ from similarly titled measures used by other companies or analysts. EBIT: income from operations; plus the share of net income or loss of equity affiliates less: amortization of acquired intangible assets (PPA). From 1 January 2016, it also excludes expenses recorded in the income from operations that are directly related to business combinations (2017 impact: + 18m, 2016 impact: +19m). See also notes 13-a and 2 of the consolidated financial statements at 31 December Adjusted net income: net income, less the following elements, net of the corresponding tax effects: (i) amortization of acquired intangible assets, (ii) expenses recorded in the income from operations which are directly related to business combinations, which by their nature are unusual (2017 impact: + 12m, 2016 impact: +12m), (iii) disposal of assets, change in scope of consolidation and other, (iv) change in fair value of derivative foreign exchange instruments (recorded in "other financial results" in the consolidated accounts), (v) actuarial gains or losses on long-term benefits (accounted within the "finance costs on pensions and employee benefits" in the consolidated accounts). See note 13-a of the consolidated financial statements at 31 December Adjusted EPS: ratio of adjusted net income (as defined above) to average number of shares outstanding. See note 13-a of the consolidated financial statements at 31 December Free operating cash flow: net cash flow from operating activities, less: capital expenditures, less: deficit payments on pensions in the United Kingdom. See notes 13-a and 6.4 of the consolidated financial statements at 31 December Q order intake and sales - 18

19 Thales Tour Carpe Diem 31 Place des Corolles Paris La Défense France This presentation may contain forward-looking statements. Such forward-looking statements are trends or objectives, as the case may be, and shall not be construed as constituting forecasts regarding the Company s results or any other performance indicator. These statements are by nature subject to risks and uncertainties as described in the Company s registration document ("Document de référence") filed with Autorité des Marchés Financiers. These statements do not therefore reflect future performance of the Company, which may be materially different.