In the video: IAI sold a spy satellite to Singapore for about 200 million dollars/IAI
In 2023, the aerospace industry recorded record results of all time, against the background of the war in Ukraine and urgent orders from the Ministry of Defense in the last quarter of the year after the outbreak of the Iron Swords War.
The company's net profit jumped by 49% to $318 million (NIS 1.144 billion), and sales increased by 7% to $5.327 billion.
The order backlog increased by 15% to $18 billion.
How much the Ministry of Defense's purchases for the IDF have increased can be seen in the 12.3% increase in sales to the local market, which reached 1.535 billion dollars, and in the fact that despite the increase in sales, the share of exports in the company's activity decreased from 73% to 71%.
arrow missile
The most prominent transactions of the company in the past year were the sale of the Arrow-3 system to Germany for 3.6 billion dollars, and the sale of the Barak-8 system to a foreign customer, according to foreign publications it is Azerbaijan/one-time public relations of the Aerospace Industry
Most of the increase comes from the sales of the company's military divisions, which produces, in addition to the Arrow-3 and Barak 8 missiles for air defense, land and sea attack missiles, unmanned aerial vehicles, roving weapons, intelligence and electronic warfare systems, and more.
The share of sales of the military divisions increased in 2023 by about 9.4% to about 4.489 billion dollars, while the sales of the aviation division, which produces the executive jet Gulfaster G280, converts passenger planes to cargo and maintains planes, decreased by 1.2% to 1.387 billion dollars.
Accordingly, the military divisions registered a net profit of 387 million dollars, a jump of 38.2%.
The most prominent transactions of the company in the past year were the sale of the Arrow-3 system to Germany for $3.6 billion, and the sale of the Barak-8 system to a foreign customer, according to foreign publications this is Azerbaijan, which also purchased two spy satellites from the IAEA with a combined value of $120 million .
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Chairman Peretz and CEO Levy.
"The company worked around the clock to meet the operational requirements of the IDF, to supply all the required armaments"/IAI
The Chairman of the Aerospace Industry, Amir Peretz, said that "the international changes that affected the ability to carry out routine business in areas where stability was undermined, and in addition to the war in Israel, forced us to adapt company policy and prioritize the needs of the IDF and the defense system. The company worked around the clock to meet in the operational requirements of the IDF, for the supply of all the required armaments.
New systems that were in the final stage of development, entered into operational activity, including autonomous systems.
Despite the complexity, we maintained the upward trend of the business results, and the year 2023 ends as the best year since the establishment of the Aerospace Industry in all indicators."
The CEO of the Aerospace Industry, Boaz Levy, noted that "the entire last quarter was a war. The Israeli security system, and no less than that, activity on behalf of our clients abroad, brought groundbreaking results in this challenging year.
The considerable increase in research and development is noteworthy and the products are reflected every day even in the Iron Swords War." Levy's salary was $473,000, a low amount for a company with profits and sales of this magnitude, as was Amir Peretz's
salary
, $339,000.
In which the government approved a revised budget for 2024, replete with cuts to finance the war expenses, alongside increasing funding for the ultra-Orthodox sector, the Aerospace Industry states in its report that the state has not yet withdrawn approved dividends totaling $268 million, and that there is an additional $569 million in its coffers for distribution.
More on the same topic:
Israel Aerospace Industries
War of Iron Swords
Gaza war
Amir Peretz
Russia Ukraine war