French defence technology company Thales Group saw sales rise in 2025 as as its order intake remained high.
Sales rose 8% to EU€22.14 billion, above company-compiled estimates of €21.88 billion. Adjusted net income per share increased 6% to €9.76.
“2025 was a very good year for Thales, a world leader in advanced technologies in Defence, Aerospace, Cybersecurity and Digital. The Group has successfully pursued its strategy of profitable growth,” said chair and CEO Patrice Caine.
“Order intake exceeded the €25 billion mark for the second year in a row, a record for the Group, confirming the strong commercial momentum, the excellence of our products and solutions portfolio and the trust of our customers and partners. This performance enables Thales to benefit from an unprecedented order book, ensuring exceptional visibility for the years ahead.”
Its order intake was roughly flat year-over-year at €25.26 billion, beating company-compiled estimates of €25.21. Thales’ order book at the end of the year was up 5% to €53.32 billion.
Thales’ Defence segment saw the largest increase in order intake, growing 3% to €15.13 billion. Aerospace and Cyber & Digital orders respectively dipped by 5% and 4%.
The company said it received 28 orders with a unit value of over €100 million, representing €7.75 billion in total. These include contracts with the European Space Agency and militaries from Germany, the United Kingdom, Canada, India, and Australia.
Adjusted EBIT climbed 13% to €2.74 billion, just above estimates of €2.7 billion. This was 12.4% of sales.
It projects sales of €23.3-23.6 billion and an adjusted EBIT margin of 12.6-12.8% in 2026. Caine said the company is not yet able to predict the impact of the current United States-Israel-Iran conflict on defence spending or supply chains.
The company also aims to merge its satellite activities with Airbus and Leonardo, a plan it announced in October. The merger is under review by European authorities.
Thales Group (EPA: HO) shares closed 2.5% lower at €249.60, though this outperformed the 3.5% drop at France’s CAC40 index. Its market capitalisation is €51.07 billion.
