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Thales credits digital ID with some of its financial buoyancy

Thales credits digital ID with some of its financial buoyancy
 

Digital identity might be a stain on the first-half financial reports for some, but Thales is boasting “strong performance” in the sector.

Thales released its first half figures today, saying that its digital identity and security sales added measurably to its seven percent growth in organic sales. Organic sales are revenue from existing operations, not that of acquired companies.

A rebound in civil aeronautics activity also propelled organic sales, according to a statement issued by CEO and Chair Patrice Caine.

That is as far as Thales would go in its statement in regard to specific-unit performance.

The period for the company as a whole was solid with the exception of organic order intake, which dropped 23 percent when compared with the first half of 2022.

Year-over-year sales rose 7.7 percent, according to the company. Executives expect the second half of this year to be softer here. They say organic sales for fiscal ’23 should be 5 percent to 7 percent.

Adjusted net income for the group rose 13 percent, from €726 million (US$807.23 million) in the first half of 2022 to €819 million ($910.7 million).

Thales in April announced it is sharing a 10-year United States passport security contract. It also said during the half that it will launch a biometric travel and digital ID-documents operation in Finland.

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