(Boursier.com) — Thales climbed 4.7% to 107.8 euros on the Paris market and erased its losses on Wednesday. The electronics group specializing in aerospace, defense, security and land transport has unveiled solid annual accounts and will offer its shareholders a dividend of 2.56 euros per share.
Thalès notably saw its adjusted operating profit and operating cash flow reach historic levels in 2021, while new orders increased by 18% to 19.9 billion euros. The company is targeting this year a turnover in the range of 16.6 billion to 17.2 billion euros, an Ebit margin of between 10.8% and 11.1% as well as a book-to-book ratio. to-bill above 1, supporting the acceleration of growth in 2023.
For Jefferies (‘buy’), while 2021 sales and Ebit came in line with expectations, the company was well above consensus for free cash flow. Oddo BHF (‘outperform’) also highlights the impressive generation of free cash flow.
Thalès is one of the big winners of this beginning of the stock market year (+44% since January 1). Investors are betting a lot on European groups specializing in Defense after the Russian offensive in Ukraine.
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