Thales, renowned for its expertise in defence, aerospace, cybersecurity and digital technologies, delivered solid results in 2024, maintaining steady sales momentum and achieving an order intake of over €25 billion. This significant order book provides excellent visibility for all the group’s operations, reinforcing confidence in its long-term outlook.
Order intake for the 2024 financial year increased by 9% compared to 2023, reaching €25,289 million, with a 6% rise on an organic basis (at constant scope and exchange rates). This growth was driven by strong demand in the defence segment and continued momentum in the aerospace business. As of December 31, 2024, the consolidated order book stood at nearly €51 billion — an increase of €5.4 billion compared to the previous year.
Sales reached €20,577 million, up 11.7% from 2023, with organic growth of 8.3%. This robust performance was particularly underpinned by the solid contribution of the Defence business throughout the year.
Adjusted EBIT amounted to €2,419 million, representing 11.8% of sales, compared with €2,132 million (11.6% of sales) in 2023, an increase of 13.4% (5.7% on an organic basis).
Adjusted net income, group share, stood at €1,900 million, marking a 7% increase from 2023. Consolidated net income, group share, reached €1,420 million, reflecting a sharp rise of 39%, largely due to the absence of non-recurring expenses related to the Thales UK Pension Scheme, which had impacted 2023 figures.
Free operating cash flow from continuing operations amounted to €2,142 million, up from €1,968 million in 2023. Including the contribution of discontinued operations, free operating cash flow totalled €2,027 million, in line with the previous year’s figure of €2,026 million.
Based on continuing operations, the cash conversion ratio of adjusted net income into operating free cash flow stood at 114%, exceeding 100% for the fifth consecutive year. This exceptional performance reflects the strong momentum of new orders, the phasing of cash inflows from contract execution, and the ongoing success of the Group’s CA$H! plan aimed at optimising cash conversion.
In addition to its financial achievements, Thales excelled in non-financial performance. The group’s Corporate Social Responsibility (CSR) strategy was recognised with its inclusion in the CAC 40 ESG index in 2024, reflecting its commitment to sustainable business practices.
Looking ahead to 2025, Thales embarks on its new strategic roadmap, unveiled in November 2024. With a firm foundation in leadership across high-growth markets and a continued focus on innovation, the group is well positioned to achieve profitable and sustainable growth in the coming years.
