May 2024

Integrated Report 2023-2024 Corporate responsibility

True to its purpose of "building a future we can all trust," Thales intends
to become the leader on sustainability in all of its markets before 2030.

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Foreword

Patrice Caine Chairman & Chief Executive Officer

Thales's sustainability strategy reached a tipping point in 2023, marking the end of a cycle in terms of the objectives we had set in 2019 in four key areas: emissions reductions (targets validated by the SBTi), diversity and inclusion, ethics and integrity, and workplace health and safety. These results are extremely encouraging. We managed to meet our objectives, and in many cases exceed them, in all of these areas bar none.

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Highlights

2023, a pivotal year in Thales’s strategy

Despite a complex operating environment, Thales returned excellent financial results for 2023 and made solid progress towards its sustainability objectives. The Group has again demonstrated the strength and resilience of its business model and confirmed its capacity to create long-term value for stakeholders.

Financial performance

Thales achieved a remarkable performance once again in 2023. Our excellent sales momentum continued, with the order intake again exceeding €23 billion.

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Structuring acquisitions

With the acquisitions of Imperva and Tesserent, Thales’s cybersecurity business is taking on a new dimension, as is avionics with the acquisition of Cobham Aerospace Communications in 2024.

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Recognition for low-carbon strategy

SBTi validated Thales’s greenhouse gas emissions targets to 2030, confirming that the Group's goals are aligned with the climate objectives of the Paris Agreement.

Read the CSR strategy

A Group among the most innovative

Thales was one of seven French companies and institutions in Clarivate's Top 100 Global Innovators in 2023, recognising the Group's unique strategy of innovation for dual civil and military markets.

Read the innovation policy

Metrics

Non-financial
performance

In 2023, Thales met or exceeded all the multi-year objectives of its CSR strategy, as defined in 2018 and then revised upwards in 2021. A new, more ambitious roadmap for the period 2024-2030 is currently being defined.

2023
Performance

52%

reduction in operational CO₂ emissions

100%

of new products fully or partly apply eco-design principles

2023
Objectives

35%

100%

2023
Performance

100%

of at-risk employees trained in corruption prevention

2023
Objective

100%

2023
Performance

36.7%

reduction in the frequency rate of workplace accidents with lost time relative to 2018

2023
Objective

30%

2023
Performance

86.8%

of management committees with three or more women members

20.4%

of senior management positions held by women

2023
Objectives

75%

20%

Technology
leadership

Thales is a global technology leader with a proven innovation track record of innovation in areas such as quantum applications, artificial intelligence, cloud and cybersecurity, serving all the products and solutions of its core missions.

Trusted AI

Thales is pooling its artificial intelligence capabilities into the cortAIx accelerator, as it looks to scale up its solutions.

Cybersecurity

Thales’s Data Centric Security Platform is designed to help organisations protect their data and access profiles from ever-more virulent and sophisticated cyberattacks.

Trusted Cloud

As private companies and public bodies continue their move to the cloud, the need for trusted hosting and access-control infrastructure has never been more pressing.

Quantum Technologies

Thales been at the forefront of global research into quantum physics for the past 20 years, working with leading players in the field to develop the applications of tomorrow.

Business model

Value creation

Business model

Value creation

Thales's business model relies on the development and innovation of high-tech products and solutions, made available to four types of customer in the Group's three core markets.

Thales invests in critical and disruptive technologies, making the critical decision chain more reliable and efficient while guaranteeing data accuracy, security and safety.

Governments, institutions and business customers in the defence, aerospace, space, and digital identity and security sectors rely on the Group’s products and services to accomplish their most demanding missions.

At the heart of this process are the Group's four strategic pillars, designed to generate maximum value for all its stakeholders.

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Business model

Shared value and stakeholder engagement

Underpinning our model of profitable growth is a commitment to sharing value with all of our stakeholders so that society at large benefits from the business success of the Thales Group.

Business model

Shared value and stakeholder engagement

Underpinning our model of profitable growth is a commitment to sharing value with all of our stakeholders so that society at large benefits from the business success of the Thales Group.

See our shared value

Recognition for our CSR performance

In 2023, extra-financial rating agencies ranked Thales
among the leading companies in its industry for environmental, social and governance (ESG) performance.