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Thales updates its 2019 financial objectives following the integration of Gemalto

Thales published today the update of its 2019 financial objectives following the integration of Gemalto, completed on 1st April 2019, and the disposal of its General Purpose Hardware Security Module (GP HSM) business, deconsolidated since 1 January 2019 and finalised on 7 June.

Patrice Caine, Chairman and Chief Executive Officer, commented:

“The update of our 2019 financial objectives announced today is in line with our plan. The solid momentum in growth businesses, combined with strict cost control in the more mature businesses, should result in a significant underlying EBIT increase in the ‘Digital Identity and Security’ operating segment, which hosts Gemalto.

Detailed action plans will allow us to generate €120m of run-rate cost synergies.
Throughout the Group, there is tremendous enthusiasm for what Gemalto brings to all our businesses. This acquisition represents a powerful accelerator of the strategy we have been implementing since 2015; by providing a unique range of digital technologies and skills, it strengthens the differentiation of our solutions and positions us as partner in the digital transformation of our customers. At the same time, it allows us to create a global leader in the digital security market, responding to the needs of the most demanding customers as they step up to the challenges of identifying people and objects and keeping data secure.”

•    2019 objectives for the “Digital Identity and Security” (DIS) operating segment:
—    Organic [1] sales growth between 0% and 2%, in line with expectations
—    EBIT [2] between €240 and €260m, corresponding to an underlying margin of around 10%, comparable to the rest of the Group
•    €120m of run-rate cost synergies, at the top end of the initially announced range, after taking into account the disposal of Thales’s GP HSM business
•    Confirmed outlook for all other businesses
•    New 2019 Group objectives:
—    Order intake slightly above €18bn
—    Organic sales growth between 3% and 4% (unchanged)
—    EBIT between €1,980m and €2,000m

We are pleased to invite you to participate in this conference call or webcast in English: Thursday, 13 June 2019 at 8:30 am (CET)

Dial-in the following number  from :

Location     Number
U.K and International  +44 (0) 2071 928000
France     +33 (0)1 76 72 89 59
+ Passcode:
To communicate to the operator

It will also be possible to follow the conference call through a webcast by using the following link:
If you are unable to listen to the call live through the webcast, a replay will be available one hour after the end of the event, and will remain available for 12 months. To access the replay, please use the aforementioned link.



[1] “Organic” means “at constant scope and currency”. See definition in the 2018 registration document, page 27.

[2] Non-GAAP financial indicator, see definition in the 2018 registration document, page 27.