Elbit reports 11% revenue growth on the back of land division and war in Gaza
Contracts for ammunition have boosted Elbit Systems order book. (Photo: Elbit Systems)
Elbit Systems, reporting its first full quarter (1Q) since the Hamas attack on Israel and the latter’s invasion of Gaza, has recorded a major increase in revenue on the back of providing equipment and material to land forces, a movement reflected by other companies supplying equipment to Israel and to the Ukraine.
The company noted revenues for 1Q 2024 were US$1.5 billion, as compared to $1.4 billion in 1Q 2023, with land revenues increasing by 26%, from $301 million to $381 million due to the increase in ammunition and munition sales in Israel.
C4I and cyber revenues increased by 12%,
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