Thales S.A. (THLEF) Q3 2023 Earnings Conference Call Transcript


Thales S.A. (OTCPK:THLEF) Q3 2023 Earnings Conference Call October 31, 2023 3:30 AM ET

Company Participants

Alexandra Boucheron – IR

Pascal Bouchiat – CFO

Conference Call Participants

Olivier Brochet – Redburn

Ross Law – Morgan Stanley

Ben Heelan – Bank of America Merrill Lynch

George Zhao – AB Bernstein

Herve Drouet – CIC Market Solutions

Christophe Menard – Deutsche Bank

David Perry – JPMorgan

Aymeric Poulain – Kepler Cheuvreux

Alexandra Boucheron

Good morning. Welcome and thank you for joining us for the presentation of Thales’ Nine Months 2023 Order Intake and Sales. I’m Alexandra Boucheron, the Head of Investor Relations at Thales. With me today, Pascal Bouchiat, CFO of Thales.

This presentation is audio webcast live on our website at thalesgroup.com, where the slides and the press release are also available for download. A replay of the call will be available in a few hours.

With that, I would like to hand over the call to Pascal Bouchiat.

Pascal Bouchiat

Thank you, Alexandra and good morning, everyone. So as usual, to start this presentation, I wanted to highlight a few key messages. I’m now on Slide 2. First, I will start with a few words on our recent dynamism in terms of portfolio management. We have been quite active, both in the first half and during the third quarter of 2023.

And I wanted to come back, in particular, on the acquisition of Imperva that was announced at the end of July. Imperva is a leading U.S.-based data and application cybersecurity company with an enterprise value of $3.6 billion, which makes it one of the largest acquisitions conducted by Thales, after Gemalto. With this acquisition, Thales is taking its cybersecurity business to the next level.

This acquisition represents a rare opportunity for us to create a world-class leader in premium



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