Israel’s Elbit Methods has posted a 13% year-on-year (YoY) enhance in annual income in 2021, capitalising on a sustained demand for its services and products.
Within the yr that ended on 31 December 2021, the corporate’s revenues totalled $5.28bn. The determine was $4.67bn in 2020.
The corporate’s Airborne methods and C4ISR methods companies primarily contributed to the rise in revenues.
Elbit Methods recorded a rise in gross sales of airborne precision guided munitions within the Asia-Pacific area whereas revenues generated by the C4ISR methods grew, following the addition of the Sparton enterprise.
GAAP gross revenue in 2021 was $1.36bn, in comparison with $1.17bn in 2020.
The corporate’s GAAP working earnings additionally elevated from $325.7m in 2020, to $418.5m in 2021.
GAAP internet earnings attributable to the corporate’s shareholders was $274.4m in 2021, up from $237.7m recorded in 2020.
The backlog of orders totalled $13.66bn, as of 31 December 2021.
The Israeli agency additionally launched the monetary outcomes for the fourth quarter of 2021.
Within the three-month interval to 31 December 2021, the corporate’s revenues have been $1.49bn. The determine represents an 8.7% enhance from the $1.37bn recorded in the identical interval a yr in the past.
Elbit Methods president and CEO Bezhalel (Butzi) Machlis stated: “2021 was a strong yr for Elbit Methods, and the monetary outcomes point out the sustained demand for our merchandise and methods from clients world wide.
“Revenues elevated by 13% yr over yr to $5.3bn, and a document backlog of $13.7bn offers us with good visibility.
“Elbit Methods’ 2021 outcomes are an consequence of the numerous investments we’ve made in recent times to develop main technological capabilities and increase our positions in key world defence markets, to maintain via cycle progress.”
Headquartered in Israel, Elbit Methods is a expertise firm related to an array of defence, homeland safety, and industrial programmes.
The corporate not too long ago secured a contract to ship ammunition for the Swedish Armed Forces’ Leopard essential battle tanks (MBTs).