French group Thales' underlying first-quarter sales fall 4.7% [Reuters]
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Source: Reuters
French group Thales' underlying first-quarter sales fall 4.7% PARIS (Reuters) - France’s Thales ( TCFP.PA ) reported first-quarter sales down 4.7% on a like-for-like basis to 3.9 billion euros ($4.2 billion), touched by the beginning of the coronavirus crisis which is set to have a marked impact in the second quarter. Europe’s largest defence electronics company said the crisis had trimmed organic sales by roughly 200 million euros, adding that they would have been slightly higher in percentage terms without the epidemic that has badly harmed the economy. On an unadjusted basis, revenues grew 16%, buoyed by the acquisition of digital security company Gemalto. The company’s order intake fell 15% on an organic basis to 2.66 billion euros. The impact of the coronavirus crisis on orders was estimated at 190 million euros, including 80 million from civil aerospace. After adjusting for this, the underlying order intake was down 8%, Thales said. About 15% of Thales revenues come from secto
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