he firm focused on defense and technology, Thales, revealed this Thursday its new four-year targets.
Since companies are now focusing on investments in cyber security programs, Thales forecasts more than $26.34 billion in 2028.
The French company represents Europe’s biggest defense technology supplier and managed to increase its cyber security revenues about four times through various acquisitions in these past years. The company also stated that they forecast about 5% to 7% average compound sales increase between 2024 and 2028.
The Thales Group also expects to have an operating profit of 13% in 2028, which represents a rise from 11,6% in 2023, and also from 11.8% expected to record this year.
It’s important to mention that these figures were presented prior to the company’s first full-scale investor since 2019, which represents a period where the margins have rebounded and resumed growth following a dip during the COVID-19 pandemic.
Also, even though the defence and technology company represents a key contractor for European space, the firm has also been selected for overseas markets such as the Australian IT market. Thales offers a diverse range of military and civilian products, including submarine-detecting sonars, biometric identification systems used in banks along with in-flight entertainment systems for various airlines.
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Patrice Caine, who has been CEO for almost 10 years now, told reporters that its company will be more focused on targeting those customers who are willing to pay a premium price for high-value software products. The attention will be on industries like banking and critical sectors like energy, which tend to have higher margins compared with traditional cybersecurity solutions services.
Also, the CEO of the Thales Group confirmed that the company is still in a “recovery mode” and is facing competition from Elon Musk’s Starlink company, which is rapidly growing in popularity.
But besides these aspects, Patrice Caine believes that the Thales Group should not be worried because it remains a future for the company in its traditional market of larger and customized geostationary satellites.
By
Alice Brasoveanu
•
November 14, 2024 4:00 PM
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