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Thales (0HSR)

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Thursday 15 November, 2001

Thales

Nine Month Report

Thales
15 November 2001


                               REVENUES UP 24% 
                             AT END-SEPTEMBER 2001

Thales Group revenues for the first nine months of 2001 totalled EUR 6,391 
million, a rise of 24% compared to the corresponding period of 2000 (EUR 5,156 
million).

On a like-for-like basis, the rise was 7.5%, confirming first-half trends 
(+ 7%).

Changes in the scope of consolidation notably included Racal, the UK company 
acquired in June 2000 (nine months of revenues were consolidated at the end of 
September 2001, versus three months at end-September 2000) and, since January 1,
2001, optronics manufacturer Avimo, and Alcatel CGA Transport, a specialist in 
electronic ticketing. As from the third quarter, the North American satellite 
positioning specialist Magellan, acquired in July 2001, was consolidated for the
first time, and Thales ATM was fully-consolidated following the acquisition of 
the outstanding 33.33% of that company's capital not previously held by the 
Group.

Consolidated sales of the Aerospace business rose 15%, or 7.5% on a like-for-
like basis. Growth in this sector was driven by Avionics and Simulation and 
training systems, in line with trends observed in the first half.

The Defence business, up 18%, was lifted notably by the inclusion of Racal's 
defence activities during the nine months, compared with only three months at 
end-September 2000, and by Avimo. Sales advanced 5% on a like-for-like basis, 
versus 3% in the first half, thanks to a stronger pace in the third quarter. The
fastest-growing sectors were Optronics systems and Air defence systems.

In Information Technology and Services (IT & S), revenues were up 42% at end-
September. On a like-for-like basis, total revenues grew by over 12% (versus 15%
for the first half), an evolution resulting from disparate trends in the various
businesses. Tubes, Information systems, Electronic transactions, Consultancy and
engineering services all registered significant gains, whereas telecom-related 
activities were affected by the downturn in their markets.

(in millions of euros)               2000         2001       Aggregate  Organic
                                   (9 months)   (9 months)     change    change

Aerospace                            1,033        1,188        +15%      +7.5%

Defence                              2,810        3,306        +18%        +5%

Information Technology and           1,291        1,834        +42%       +12%  
 Services

Other                                   22           63  

Consolidated revenues                5,156        6,391        +24%      +7.5%


Press contact:

Matt Pothecary
Tel: +33 (0) 1 53 77 86 26



                                  

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