LONDON (ShareCast) - (Sharecast News) - French aerospace, defence and transportation services group Thales saw shares jump more than 8% on Tuesday after delivering 2023 results that beat forecasts across the board, with operating profits topping €2bn for the first time in four years.
The Paris-based company said earnings before interest and tax were up 10.2% year-on-year or 10.9% on an organic basis at €2.13bn, ahead of the €2.11bn consensus forecast.

Sales rose 4.9%, or 7.9% organically, to €18.4bn, beating the €18.18bn estimated by analysts, as a result of a strong performance in civil aeronautics activities.

Meanwhile, the order book at the end of the year stood at a record €45.25bn, up 10% on the end of 2022.

Order intake fell by 2% on the previous year at €23.13bn but Thales said it was the third straight year of orders representing more than 20% higher than sales.

The company declared a dividend of €3.40 a share, up 16% on the previous year and in line with the payout policy of 40% of adjusted net income.

Chair and chief executive Patrice Caine said the board was 'looking ahead to 2024 with optimism, confident in the quality of our fundamentals, the strength of our positioning and the importance of our contribution to the major societal challenges of our time".​

Looking ahead, the company said it expects organic sales growth to slow to between 4% and 6% in 2024, "assuming there are no new major disruptions in the global economy, in the health context, or in the global supply chains".

The stock was up 8.1% at €149.50 in afternoon trade in Paris.

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