Latest news with #Thales
Reuters
3 hours ago
- Automotive
- Reuters
Franco-German MGCS tank project speeding up, Rheinmetall CEO says
UNTERLUESS, Germany, July 24 (Reuters) - The Franco-German MGCS main battle tank project, which has stalled for years, is speeding up and has political will on both sides, Rheinmetall chief executive ( opens new tab Armin Papperger said on Thursday. "This is what politicians want, but also industry," he told reporters during a factory visit in Unterluess, in northern Germany, which was attended by the French and German defence ministers. Berlin and Paris in 2017 agreed to work on a Franco-German tank to succeed the German Leopard 2 and the French Leclerc, but the project had been hit with disagreements and delays. Efforts to speed up production come at a time when Europe is ramping up defence production, feeling more vulnerable after Russia's invasion of Ukraine in 2022 and questions over the U.S. commitment to the NATO military alliance. A production concept will be developed over the next few months together with the French company Thales ( opens new tab and KNDS. "Then we will move into a prototype phase, and after this prototype phase, we will hopefully move relatively quickly into a production phase," Papperger said.
Yahoo
4 hours ago
- Business
- Yahoo
France says European satellite venture talks are making progress
PARIS (Reuters) -Efforts to set up a European space project alliance involving Italy's Leonardo, France's Thales and Airbus and aimed at challenging Elon Musk's Starlink are making progress, said France's industry minister on Thursday. "It's a project which we support. Talks are moving forward in a constructive manner," said France's Marc Ferracci during a meeting in Paris with his Italian counterpart Adolfo Urso. Urso said negotiations were aiming at giving the two countries an equal footing in the project, endorsed by French President Emmanuel Macron at the Paris Airshow in June. Under the so-called "Project Bromo", named after an Indonesian volcano, Leonardo, Thales and Airbus have been exploring plans to set up a new satellite manufacturing company to better compete with the U.S. and China, but so far progress has been modest. Leonardo's Chief Executive Roberto Cingolani said last month that the three companies would make another assessment on where the deal stands by the end of July. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
5 hours ago
- Business
- Reuters
France says European satellite venture talks are making progress
PARIS, July 24 (Reuters) - Efforts to set up a European space project alliance involving Italy's Leonardo ( opens new tab, France's Thales ( opens new tab and Airbus ( opens new tab and aimed at challenging Elon Musk's Starlink are making progress, said France's industry minister on Thursday. "It's a project which we support. Talks are moving forward in a constructive manner," said France's Marc Ferracci during a meeting in Paris with his Italian counterpart Adolfo Urso. Urso said negotiations were aiming at giving the two countries an equal footing in the project, endorsed by French President Emmanuel Macron at the Paris Airshow in June. Under the so-called "Project Bromo", named after an Indonesian volcano, Leonardo, Thales and Airbus have been exploring plans to set up a new satellite manufacturing company to better compete with the U.S. and China, but so far progress has been modest. Leonardo's Chief Executive Roberto Cingolani said last month that the three companies would make another assessment on where the deal stands by the end of July.
Wall Street Journal
a day ago
- Business
- Wall Street Journal
Thales Lifts Sales Guidance Amid Strong Defense, Avionics Businesses
Thales HO -1.10%decrease; red down pointing triangle raised its sales forecasts for the year as its defense and avionics businesses continue to benefit from increases in production capacity for both military hardware and aircraft. The French aerospace-and-defense company now expects organic sales growth between 6% and 7% this year compared with its previous guidance of 5% to 6% growth. Its adjusted earnings before interest and taxes margin, a closely watched measure of profitability, should still range from 12.2% to 12.4%.
Yahoo
a day ago
- Business
- Yahoo
Thales raises 2025 sales growth forecast on strong defence demand
(Reuters) -French defence and aerospace group Thales raised its 2025 sales growth forecast on Wednesday after posting higher first-half sales and profit amid higher military spending in Europe. Europe's largest defence electronics firm also said its widely watched adjusted operating profit rose 12.7% on a comparable basis to 1.25 billion euros, fractionally above market forecasts, led by the Aerospace and Defence units. The company, whose portfolio spans fighter radars to seat-back screens for airlines, now expects 2025 sales growth of between 6% and 7% instead of the 5% to 6% it had forecast previously, pointing to full-year revenue between 21.8 billion euros ($25.62 billion) and 22 billion euros. Thales, partially owned by the French state, said sales rose 8.1% on a like-for-like basis to 10.27 billion euros in the first half, while new orders fell 4% to 10.35 billion due to a tough comparison with last year's surge in big-ticket deals. Revenues were slightly lower than expected, though orders came in ahead of expectations. Analysts had on average been forecasting half-year sales of 10.35 billion euros and 9.02 billion euros of fresh orders, as well as an adjusted operating profit of 1.22 billion euros, according to a company-compiled consensus. The increase in sales was mostly driven by defence and avionics activities, CEO Patrice Caine told reporters. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
