Israel Aerospace Industries nears $5 billion in sales in record-setting 2022
Israel Aerospace Industries nears $5 billion in sales in record-setting 2022
Following the war in Ukraine and the arms race around the world, the IAI saw its sales increase 11% on the previous record from 2021, with the net profit jumping by 44% to approximately $213 million
"The most successful year since the establishment of the company,” is how Israel Aerospace Industries is defining 2022, which ended with an all-time record in sales that amounted to just under $5 billion ($4.973 billion).
The amount is an 11% increase compared to the previous record in sales in 2021. The net profit jumped last year by 44% and amounted to about $213 million compared to $148 million at the end of 2021.
The extensive sales volume of the IAI in 2022 and the jump in net profit are evident in all areas of its activity and are attributed to countries from across the world equipping themselves with weapons systems. This is, in part, against the background of the war between Russia and Ukraine, the tensions in other conflict zones, and the increase in the potential for escalation which leads to the acquisition of attack, defense and warning systems.
Thus, there was a significant increase in the previous year in the scope of activities of the military division of the IAI, in the missile and space systems division, and in the aviation division - which converts aircrafts and manufactures executive planes. In addition, at the end of 2022, the advanced satellite Eros-C3, developed and manufactured by the IAI, was launched into space.
The company's order backlog at the end of 2022 amounted to $15.6 billion compared to a backlog of $13.4 billion at the end of 2021. About 80% of the backlog is for customers abroad and guarantees the company more than three years of activity in its current scope.
Alongside the increase in sales and net profit, IAI has a positive cash flow from current operations in an amount approaching $800 million, compared to a flow of $146 million in the corresponding period. Its EBITDA increased by 28% compared to last year, and amounted to $560 million.
