IAI logs record H1 profits
The Arrow 4 interceptor is among the weapon systems IAI worked on in H1 2021. (Photo: IAI)
Israel Aerospace Industries (IAI) claims to have achieved the most profitable half year and financial quarter in its history, with a 22% leap in net profits for H1 2021 and a 21% increase in Q2 2021.
H1 revenues of $2.16 billion (4.1% higher than in H1 2020) generated net income of approximately $100 million, the Israeli defence and aerospace group announced on 17 August.
‘The growth in sales was primarily due to the increased sales in the Systems Missiles & Space Group, partly offset by reduced sales in the Aviation Group,’ IAI stated.
Military business accounted for $1.89 billion of H1 sales (a 10.6% year-on-year increase), while the Aviation Group in IAI saw sales fall by $566 million.
Exports reached 72% ($1.56 billion) of overall sales in H1 2021 – the same percentage as H1 2020.
Notably, in-house R&D spending at IAI in H1 2021 rose by 20% year on year to about $85 million.
More from Defence Notes
-
UK Chancellor commits £2 billion to make the country a “defence industrial superpower”
Rachel Reeves announced port upgrades, protected budgets for innovation and investment in novel technologies.
-
Launch of Gilat Defense targets DoD market
The communications company Gilat launched its new Gilat Defense division at the Satellite 2025 expo, with future solutions aimed at US military customers.
-
Collins MAPS Gen II to equip US DoD watercraft
US services have already conducted multiple tests with military maritime systems fitted with the system.
-
OCCAR expects substantial boost in programme numbers “in the coming months”
Europe’s Organisation for Joint Armament Cooperation (OCCAR) “has to establish itself…as a centre of excellence for cooperative Defence Equipment Programmes” in the face of growing threats and the need for rearmament, according to the organisation’s chairman.
-
MBDA CEO emphasises “moment of truth” for Europe as company sees €37 billion backlog
MBDA CEO Éric Béranger stressed the company’s role supporting European countries with complex weapon systems and focused on boosting production against the backdrop of “shifting” geopolitical alliances.