All-time high: Israel Aerospace Industries published its financial reports today (Wednesday) for the first nine months and the quarter ending September 30, 2024, from which it appears that the company has set new records with orders totaling $25 billion (approximately 94 billion shekels) compared to about $18 billion at the end of 2023.
The company's sales in the third quarter of 2024 amounted to approximately $1,541 million, compared to approximately $1,333 million in the corresponding quarter last year, an increase of about 16%. The increase is due to higher sales in the Missile and Space Systems Division and the Elta Division.
The sales share of the military divisions in the quarter increased by about 17% to approximately $1.3 billion, compared to approximately $1.11 billion in the same quarter last year. The sales share of the aviation division amounted to approximately $378 million, compared to approximately $351 million in the same period last year.
The export sales share for the quarter stood at approximately 62%, amounting to about 958 million dollars (about 583 million dollars, which constitute about 38%, were sold in Israel), compared to about 69% amounting to about 922 million dollars (about 411 million dollars, which constitute about 31%, were sold in Israel) in the corresponding quarter last year.
The gross profit for the quarter amounted to approximately $282 million (constituting about 18% of sales), compared to approximately $226 million (constituting about 17% of sales) in the corresponding quarter last year. The gross profit of the military divisions increased by approximately 23% to about $248 million, compared to about $201 million in the same quarter last year. The gross profit of the aviation division increased to approximately $41 million, compared to approximately $30 million in the same quarter last year.
"I am concluding the three best years of the Israel Aerospace Industries since its establishment." Following the successes of 2022 and 2023, we are concluding today three quarters of exceptional business activity, which continues the positive trend and solidifies the status of the Israel Aerospace Industries as a central player on the global stage," stated the Chairman of the Israel Aerospace Industries, Amir Peretz.
"We have expanded our international presence, increased the number of markets in which we operate, and continued to serve over a hundred countries worldwide." This activity is not only a strengthening of the economy and national security but also a significant contribution to Israel's political standing on the global stage, especially during this period when it is facing many challenges. As I conclude my term, I see a company that continues to grow, innovate, and break new ground, deepening its contribution to the economy, society, and security of the State of Israel. The Israel Aerospace Industries is not just a successful business; it is a national symbol representing the best values and capabilities of Israel. I am proud of what we have achieved and believe that we are facing an even brighter future.
The CEO of Israel Aerospace Industries, Boaz Levy, added: "We are proud to present, even at the end of the third quarter of the year, exceptional financial results that reflect the growth and expansion trend of Israel Aerospace Industries, both in service of the Israeli defense establishment and for the benefit of its diverse customers around the world."
"The unprecedented scope of the order backlog serves as a tangible expression of the current capabilities of the aerospace industry, and no less so for the years that lie ahead." The extensive contracts we have signed with our customers abroad indicate the strong bond and recognition of Israel's technological superiority despite the crisis it is undergoing, in the continuity of the supply chain and the maintenance of international relations.
