Europe’s largest defence technology group Thales has today reported first-quarter sales well above analyst forecasts, with revenues rising nearly 10% organically driven by surging defence deliveries.
The group posted quarterly sales of €5.32 billion, up 9.7% organically from a year ago, as its defence division, which alone accounted for more than half of total sales, benefited from capacity expansion projects deployed in recent years that lifted delivery rates across its entire portfolio.
“A start to the year above our expectations,” financial officer Pascal Bouchiat told journalists in a press conference.
It however missed analyst expectations for first-quarter order intake, which came in at €4.65 billion, despite its core defence division surging 75% organically to €2.24 billion.
Analysts had on average expected quarterly sales of €5.19 billion and an order intake of €4.85 billion, based on a consensus compiled by the company.
Bouchiat said the Middle East crisis represented “positive uncertainty” for the group, with clients in the region asking Thales to increase equipment supplies as conflict drives up usage rates.
But he cautioned that any material revenue impact was more likely to happen in the second half of 2026 or into 2027.
The group kept its annual guidance range of between 6-7% organic sales growth unchanged.
