Interceptions of the Iron Dome in the northern sky/Walla system!
The smallest of the three largest defense industries in Israel recorded the largest increase in sales and orders in 2023, and this is even before the effects of the Iron Swords War and special American aid.
In the past year, Rafael recorded a 21% increase in sales, which rose to $3.879 billion, an impressive 85% increase in new orders, which amounted to $8.177 billion, and a 17% increase in net profit, which climbed to $162 million.
Rafael's order backlog jumped 47% to $14.5 billion.
In all the figures, this is an all-time record, apart from the net profit.
These figures come when the bulk of the Ministry of Defense's expected procurement following the war will arrive only this year, after the approval of the special security assistance from the US, which includes a purchase of approximately $5 billion from Rafael, including approximately $3 billion for Iron Dome interceptors, approximately $1 billion for interceptor procurement David's slingshot and $1.2 billion for the Magen Or laser interception system.
Even so, Rafael recorded a strong last quarter during the war, while 20% of its employees are being drafted into the IDF, it delivers urgent orders to the Ministry of Defense, and that the company is forced to evacuate its factory in Shlomi in the Galilee, As part of the evacuation of the area due to Hezbollah attacks.
In the last quarter, Rafael registered a 2.5-fold increase in new orders, which jumped 2.5-fold to 3.998 billion dollars.
However, 61% of them were for customers abroad, following the signing of several large export deals.
Comparison table - Rafael, Elbit, IAI/Walla system
"Even before the war of iron swords, the effects of which on the company's reports will be seen mainly in 2024, Rafael realized important opportunities in various countries in the world with huge deals such as the historic sale of the David Slingshot to Finland, the deal to sell the Spike missiles to Greece, and more," said the chairman Raphael, Dr. Yuval Steinitz.
Yoav Turgeman, who assumed the position of CEO of Rafael in February in place of General (Res.) Yoav Har Even, after serving as CEO of the subsidiary of the aviation industry Elta, said that "Rafael is facing a challenging year of growth and development, the company was prepared ahead of time to these goals, and I am confident that thanks to the excellent human capital in the company and the proven operational experience of its systems, we will meet these challenges with great success."
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Launch of an iron dome./MDA, Raphael
In the past year, the heavy rocket and medium-range ballistic missile interception system David Skel scored its first operational interceptions and the Pierre Flyer attack drone, Maoz as it is called by the IDF, entered into operational use. Both systems were used significantly in the Iron Swords War.
With the outbreak of hostilities on October 7, Rafael accelerated the supply of Armaments and systems for the IDF, focusing on the production of interceptor missiles for the "Iron Dome" and "David's Sling" systems, various spike missiles, parts for the "Windbreaker" system as well as for dozens of other systems.
In addition to working around the clock, about 20% of Rafael employees were recruited into the reserves and the shifts on the production lines were also covered by engineers from among Rafael employees in the various divisions.
More on the same topic:
Raphael
Iron Dome
War of Iron Swords
Gaza war