The French tech company, Thales Group, disclosed that its net income for the fiscal year of 2023 was 1.02 billion euros, a decrease of 9% from the previous year. This decline was primarily attributed to a one-off expense worth 349 million euros. This significant expenditure was the outcome of a deal to insure all mandates under Thales UK's Pension Scheme.
The adjusted net income was reported to be at 1.77 billion euros, experiencing a rise from 2022's sum of 1.56 billion euros. The adjusted net income per share also exhibited a surge, up to 8.48 euros from a figure of 7.35 euros last year.
The earnings before interest and taxes (EBIT) for 2023 reached 2.13 billion euros, exhibiting a 10.2% increase on a reported basis, and a 10.9% progression organically. Moreover, EBIT margin showed improvement, increasing to 11.6% from 11% in 2022.
The sales for the fiscal year of 2023 were totaled at 18.43 billion euros, indicating a 5% increase from last year's 17.57 billion euros. The growing sales numbers were predominantly driven by the Aerospace segment, providing an organic sales rise of 7.9%.
The order intake stood at 23.13 billion euros, a slight drop of 2% on a reported basis, while having a small rise of 0.2% accounting for constant scope and exchange rates.
The Board of Directors further recommended a dividend payment of 3.40 per share, marking a 16% increase from 2022.
Looking forward to the fiscal year 2024, Thales forecasts an organic sales growth of between 4 to 6%, equating to sale numbers anywhere between 19.7 and 20.1 billion euros. The EBIT margin is predicted to range between 11.7 to 12%.
