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Thales (0HSR)

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Friday 15 February, 2002

Thales

Sales Figures

Thales
14 February 2002



                              THALES - FINANCIAL YEAR 2001

                         Sales rise 19.7%, to EUR 10.3 billion

Thales group revenues totalled EUR 10,273 million in 2001, an increase of 19.7%
over 2000 (EUR 8,580 million). Revenues grew by 5.6% on a like-for-like basis.

Revenue growth attributable to first-time consolidations remains substantial
over the year as a whole. The pace slackened in the second half, as the UK
company Racal, acquired in June 2000, was already consolidated from July 2000.
In pursuit of its multi-domestic policy, Thales acquired, in January 2001,
optronics specialist Avimo located in Singapore and the UK. In addition, Thales
now fully-consolidates its subsidiary Thales Underwater Systems, following the
purchase of BAE Systems' 49% interest, and also Thales ATM, its air traffic
control subsidiary, after having bought out the 33% interest held by Siemens.

The IT & S business area reinforced its satellite positioning business with the
acquisition of the North American company Magellan, which was consolidated from
mid-year. This purchase made Thales a world leader in satellite navigation
systems for use in geological prospecting (especially for oil and gas
exploration), navigation and fleet management. Since January 2002 all these
activities have been combined within the new 'Positioning Based Solutions'
business group (sales EUR 350 million in 2001). The IT & S business area also
bolstered its position in secure transactions with the acquisition of Alcatel
CGA Transport, an electronic ticketing specialist.

Meanwhile, Thales continued to refocus this business area's operations with the
disposal of Thales Instruments (sales EUR 100 million for the first ten months
of the year, included in consolidated revenues). This disposal was completed in
November 2001. Other smaller divestments were also made in 2001.

The three business areas contributed to consolidated sales as follows:


                                    2001                2000            Total      Organic 
                               %   In EUR Million   % In EUR Million    Change     Change
Defence                       56%     5,746        57%    4,934          16.5%      5.3%
Information Technology & 
 Services (IT&S)              26%     2,625        25%    2,058          27.5%      4.1%
Aerospace                     18%     1,817        18%    1,551          17.2%      8.5%
Others                                   85                  37      
Total                        100%    10,273       100%    8,580          19.7%      5.6%


In 2001, the Defence business area sales advanced 5.3%, on a like-for-like
basis. Figures for individual business groups were rather contrasted, reflecting
timing differences in billings. The fastest growing sectors were air defence,
airborne and optronics systems.

The sharp growth in aerospace sales (8.5% on a like-for-like basis) stemmed
particularly from a very steep rise in billings on simulation systems.

Organic growth in IT & S sales averaged 4.1%. The steepest increases were
recorded in electronic tubes, project engineering and multimedia solutions, as
well as in secure transactions and information systems. On the other hand, sales
in telecom-related activities were down sharply compared to the previous year.

Overall, the relative contribution of the three business areas to consolidated
sales remains practically unchanged compared to 2000.

In 2001, Thales generated 59% of its sales in Europe, more or less unchanged
from the previous year's 60%. French sales (up 14%) accounted for a quarter of
consolidated sales (versus 26% in 2000). UK sales jumped 54% and now account for
15% of the consolidated total, compared with 11 % in 2000. Thales' British
subsidiaries in all three business areas accounted for the bulk of sales in the
UK.


Geographic analysis of sales:

                               2001                 2000           Total change
                         %   in EUR Million    %  in EUR Million     

France                   25%     2,553        26%     2,245           13.7%
United Kingdom           15%     1,491        11%       970           53.7%
Rest of Europe           19%     1,978        23%     1,894            4.4%
Total Europe             59%     6,022        60%     5,109           17.9%
Total International      41%     4,251        40%     3,471           22.5%
Total                   100%    10,273       100%     8,580           19.7%


Sales outside Europe advanced 22.5 % to EUR 4.3 billion. These were split more
or less equally between the Asia-Pacific region (EUR 1.3 billion), the Near and
Middle East (EUR 1.2 billion) and North America (EUR 1.2 billion). 

The sharpest increase (+ 43%) was recorded in North America, which accounted for 
12% of Thales' consolidated sales, compared with 10% in 2000. 

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



                      This information is provided by RNS
            The company news service from the London Stock Exchange



                                                                                
                                                                                
             

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