IAI publishes financial statements for Q1 2022

Boaz Levy, IAI's President and CEO , noted that "This has been by far IAI's best quarter in company history, and a direct year-over-year continuation of the record results in 2021״

IAI publishes financial statements for Q1 2022

Photo courtesy IAI

Israel Aerospace Industries (IAI) published its financial statements for Q12022, which show impressive growth:

  • Net income in Q1 2022 leaps by 86% to approx. USD 78 million compared to approx. USD 42 million in Q1 2021
  • Increase of 34% in EBITDA to approx. USD 161 million compared with approx. USD 120 million in Q1 2021
  • Approx. 58% growth in operating income to approx. USD 106 million (approx. 8.8% of sales) compared with approx. USD 67 million (approx. 6.6% of sales) in Q1 2021
  • Gross profit grew by approx. 28% to approx. USD 213 million (about 18% of sales) compared with approx. USD 166 million (approx. 166% of sales) in Q1 2021
  • Sales in Q1 2022 rose to approx. USD 1,200 million compared with sales of approx. USD 1,015 million in Q1 2021
  • Positive cash flows from operating activities of approx. USD 284 million
  • The Company's order backlog increased to USD 14 billion, representing about 3.3 years of operation

 “The financial results of the first quarter are much more than numbers – they testify, best of all, to the dedication of the employees at IAI, home to some of the most advanced technologies in the world This is a company that guarantees our country’s ability to face the challenges of the future” said Amir Peretz, IAI's Chairman of the Board.

Boaz Levy, IAI's President and CEO , noted that "This has been by far IAI's best quarter in company history, and a direct year-over-year continuation of the record results in 2021. In view of growing worldwide demand for our advanced technological systems, we constantly adapt to new customer needs through innovation, including through the IAI Innovation Center.”

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