Thales Alenia grows sales and profits
July 27, 2026
By Chris Forrester
A year or so ago, aerospace giant Thales Alenia was complaining of falling sales and pressures on the overall business and in particular on its space business. Now, despite the cancellation of two SES geostationary satellites (costing some €153 million/$174.5 million) the company reports a much healthier order book.
The two cancelled SES craft were ordered by Intelsat (which SES now owns) in the form of IS-41 and IS-44. They were ordered back in January 2022 and expected to be launched in 2027. The two geostationary craft were no longer needed, with SES placing greater emphasis on its mPOWER medium Earth orbiting fleet.
Thales CFO Jérémie Papin told analysts that the two satellites would be repurposed for other customers.
Thales CEO Patrice Caine said the space division remains on track to reach the company’s goal of a 7 per cent operating margin by 2027. He said that he expected IRIS2 contracts to be awarded “soon”. He added if [the contract] materialises, and I am optimistic on this point, it will represent a very significant chunk of business for Thales Alenia Space in the years ahead.”
Papin explained that Thales booked €24 million in restructuring costs in the first six months of 2026, compared to €30 million a year ago, mainly relating to the space division’s transformation. “This plan is now over and paying back,” Papin said. “In H1 we turned positive in space and we expect to see that for the full year.”
The company is still planning to seek a merger of its space division with the similar businesses belonging to Airbus and Italy’s Leonardo but the combination depends on European regulatory approval.
Thales aerospace numbers:
H1 Order intake up 23 per cent: €3.26 billion (€2.65 billion in H1 2025)
H1 Sales up 0.7 per cent: €2.77 billion (€2.75 billion in H1 2025)
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