PARIS: French defence electronics group Thales set out targets for further sales and profit growth over the 2018-2021 period, and added it would increase spending on research as part of its plans to boost earnings and improve its business.
Its targets, outlined at a capital markets day for investors, entailed average organic sales growth of 3-5 percent over 2018-2021.Thales also targeted an EBIT (earnings before interest and tax) margin of 11-11.5 percent by 2021, up from its current margin targets of 9.5-10 percent.
The company also expected self-funded investments on research and development (R&D) to reach 1 billion euros ($1.2 billion) by 2021, up by 25-30 percent compared to 2017.Thales added its takeover of digital security group Gemalto would also boost its earnings and dividend growth.
"Combined with our unique position, associating world class technology leadership and deep domain knowledge of our five end markets, these actions will allow us to grow profitably and faster than the market, in a sustainable way," said Thales chairman and chief executive Patrice Caine.
"In a few months, the Gemalto acquisition, which we expect to complete in the second half of this year, will further accelerate this strategy, and enable us to build a global leader in digital security," added Caine.
In this picture, the PCJCCI logo can be seen on September 1, 2022. — Facebook/Pakistan China Joint Chamber of...
The logos of the World Bank and IMF. — AFP FileNEW YORK: The United States is the MVP of GDP. That was the...
A security guard sits in front of a wall with signs and slogans at the operation building at the Pakistan Steel Mills ...
A worker cleans the entrance to the headquarters of Bank Indonesia, the nation's central bank, in Jakarta, Indonesia....
The MCB's logo is seen on a wall outside the bank's head office. — MCB websiteKARACHI: MCB Bank Limited on...
Stack of Rs5,000 and Rs1,000 notes. — AFP/FileKARACHI: The rupee lost ground against the dollar in both currency...