Thales Alenia Space, Airbus, and RADMOR Join Forces for a Defense Satellite for Poland
The three companies signed an industrial cooperation agreement on Monday, April 20, 2026, to develop a geostationary defense telecommunications satellite for the Polish Ministry of Defense. The signing ceremony took place in Gdansk in the presence of the Polish Minister of Defense and the French Minister of the Armed Forces.
The agreement involves the development of a geostationary defense telecommunications satellite dedicated to the Polish Ministry of Defense. This system will provide secure communications for the Polish armed forces, ensuring a high level of robustness and resilience. The project is part of the 'Readiness 2030' plan initiated by the European Commission in 2025. The satellite will be cyber-secured in both its terrestrial and space segments, contributing to the enhancement of Poland's national space sovereignty.
Collaborative Industrial Efforts
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Thales Alenia Space, a joint venture between Thales (67%) and Leonardo (33%), is leading the industrial cooperation. Airbus Defence and Space brings its expertise in the efficient design and industrialization of satellite platforms. RADMOR, a subsidiary of the WB GROUP, provides secure ground infrastructure and cybersecurity components, leveraging its expertise in military-grade communication systems and integration into the Polish defense ecosystem.
Integration of Expertise and Technologies
The project combines expertise in military communication payloads, mission control, satellite platform design and industrialization, as well as secure ground infrastructures and cybersecurity. The system will integrate anti-jamming technologies and offer an end-to-end cyber-secured solution resistant to threats.
Net income: 2 005 millions d'euros (Résultat Net Ajusté, part du Groupe)
Free cash flow: 2 577 millions d'euros
Net debt: -1 618 millions d'euros
Dividend per share: 3,90 €
Payout ratio: 40 %
Guidance from the release
2025 a été une très bonne année avec des commandes records et une croissance du chiffre d’affaires, démontrant l’excellence opérationnelle du Groupe.
Communiqué indiquant des commandes records, un chiffre d’affaires en hausse et une rentabilité améliorée en 2025, avec des perspectives 2026 positives et un dividende soutenu.
Outlook / guidance
Expected revenue: Entre 23,3 et 23,6 milliards d'euros en 2026
Expected EBITDA: Non précisé publiquement
Expected net income: Non précisé publiquement
Management commentary: Pour 2026, Thales vise un book-to-bill supérieur à 1 et une croissance organique du chiffre d’affaires entre 6 % et 7 %, correspondant à un chiffre d’affaires entre 23,3 et 23,6 milliards d’euros, et une marge d’EBIT Ajusté entre 12,6 % et 12,8 %; le taux de conversion en cash devrait se situer entre 95 % et 100 %.
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