RAFAEL Posts Record Sales of $ US 2.7 Billion

By Editor 01-Apr-2020

News

RAFAEL Advanced Defense Systems Ltd. posts its financial results for FY 2019, amid the COVID-19 global crisis, with record sales of $2.7 billion, an increase of 3.9 % compared to 2018. The company's orders totaled $2.8 billion , with record high export orders, and an order backlog of $7.2 billion (24.8 billion Shekels), equivalent to 2.5 sales years, despite the significant depreciation in the Dollar- and Euro-to-Shekel exchange rates. In addition, in 2019, the company handed over a dividend of some 500 million Shekels to the Israeli government.

In 2019, RAFAEL continued to press ahead with extensive marketing and business activities in Israel and around the world, including the acquisition of UAV manufacturer Aeronautics and other companies, as well as numerous other activities. 

RAFAEL PRESIEDNT & CEO, Maj. Gen. (Ret.) Yoav Har-Even said, "as RAFAEL concludes the 2019 fiscal year, in addition to its significant contribution to developing and providing defense technologies, it is also engaged in the effort to find solutions for the COVID-19 and against its spread. We are certain that the company's financial robustness will ensure its ability to face the coming uncertainties and challenges. These days, thanks to adequate preparation, we are able to carry out our work, while adhering to the Ministry of Health's directives, and to maintain our commitments, with the relentless hard work of our outstanding men and women who consider this effort their mission."  

In the past year, RAFAEL made several other significant achievements, including the sale of two Iron Dome batteries to the US Army, and an on-time delivery of the US Army's first TROPHY Active Protection Systems. In 2019, RAFAEL received an urgent order from India for the supply of SPIKE missile systems, and a major order for SPIKE from Germany, while expanding its SPIKE user-base to 34 nations. The company signed a number of important JV's, and posted an increase in the number of users of its Litening Pod. Domestically, RAFAEL won a strategic contract for a multi-domain project with the Israeli MOD, and was also awarded the Israel Defense Prize for its SPICE 1000 air-to-surface system.  

RAFAEL's investment in its manpower continued in 2019, recruiting over 800 new employees, primarily in technological fields, with 9% of its sales channeled to R&D of defense and civilian technologies, which also entailed vast cooperation with academic bodies in Israel and around the world.

Dr. Uzi Landau, Chairman of RAFAEL:

"Our human resource is the engine that propels us to achieve our mission and our vision, to find new solutions and breakthroughs, and to fulfill our goals, all while dealing with the newly-imposed reality. The dedication of our men and women, those at home and those who are still attending work, and the commitment that we as management have towards them, are the secret behind our force and our ability to cope with the impact of COVID-19."