Thales reported strong first-half order intake of 12.47 billion euros ($14.23 billion), up 21% reported and 22% organically, beating analyst forecasts of 10.48 billion euros. The French aerospace-and-defense company saw robust growth across defense and aerospace units.

The defense business led with 7.35 billion euros in bookings, up 28% organically. Major contracts included 268 Bushmaster protected mobility vehicles for Australia, air surveillance systems for a Middle Eastern country, and modernization of Hydra-class frigates for Greece.

Demand remains high following Russia's invasion of Ukraine, prompting European governments to increase defense spending. Last week, Thales signed a letter of intent with several European defense groups to develop a system to intercept hypersonic ballistic missiles, targeting a binding agreement within three months.