With 44% in net income, IAI calls 2022 “best year since company’s inception”
The company’s net income was $213 million | Positive cash flows from operating activities of approx. $797 million – 445% higher than last year
IsraelDefense
| 09/03/2023
Photo: IAI
Israel Aerospace Industries Ltd., a leader in the Israeli military and commercial homeland defense and aerospace markets, issues its consolidated financial statements for the year ended December 31, 2022.
The Company's revenues in 2022 amounted to about USD 4,973 million compared with about USD 4,477 million in 2021, an increase of about USD 496 million (about 11%), mainly deriving from increased sales in the Company's entire groups.
Additional data:
- 44% growth in net income to approx. USD 213 million compared with net income of approx. USD 148 million in 2021
- Positive cash flows from operating activities of approx. USD 797 million as opposed to positive cash flows from operating activities of approx. USD 146 million in 2021
- Growth in sales to approx. USD 4,973 million compared with approx. USD 4,477 million in 2021
- Leap in order backlog to approx. USD 15.6 billion, representing 3.1 years of operation, compared with approx. USD 13.4 billion at the end of 2021
- 28% growth in annual EBITDA to approx. USD 560 million compared with approx. USD 436 million last year
- Gross profit in 2022 increased by USD 128 million to approx. USD 824 million in 2022 compared with approx. USD 696 million in 2021
- 46% growth in annual operating profit to approx. USD 316 million compared with approx. USD 217 million last year
- 5% increase in in-house R&D activity in 2022 to approx. USD 215 million compared with approx. USD 204 million last year
- Free cash flow of some USD 1,061 million
The sales of the Military Groups (*) in 2022 increased by about 6.2% to about USD 4,105 million compared with about USD 3,867 million in 2021, an increase of about USD 238 million. The sales of the Aviation Group in 2022 increased by about 17.4% to about USD 1,404 million compared with about USD 1,196 million in 2021, an increase of about USD 208 million.
Sales for export in 2022 totaled about USD 3,607 million (about 73%) and sales to the local market totaled about USD 1,366 million (about 27%), compared with about USD 3,219 million (about 72%) and about USD 1,258 million (about 28%) in 2021, respectively.
Amir Peretz, Chairman of the Board of Directors of IAI: “Israel Aerospace Industries has this year achieved an all-time record both for new business and net profit, and above all, backlog, for the company’s systems, which both arouse considerable interest and demand around the world. This allows us to formulate work plans for the long-term, which are the basis of the company’s stability.
“Since we have no intention of resting on our laurels, IAI’s Board of Directors has set and continues to set, ambitious goals, to fully support and advance the professional and business activities of IAI’s Groups, which represent the heart of the company’s activity.”
“Developing advanced technological capabilities, to help preserve the IDF’s operational advantage and its ability to deal effectively with changing challenges, continues to lie at the center of our activities, and for that purpose we are increasing the resources dedicated to R&D,” said Boaz Levy, IAI’s President & CEO.
“The company continues to achieve pathbreaking advances, in a wide range of fields, thanks to its workers and managers, who continue to be at the heart of our company’s qualitative advantage.”
The company’s net income was $213 million | Positive cash flows from operating activities of approx. $797 million – 445% higher than last year
Photo: IAI
Israel Aerospace Industries Ltd., a leader in the Israeli military and commercial homeland defense and aerospace markets, issues its consolidated financial statements for the year ended December 31, 2022.
The Company's revenues in 2022 amounted to about USD 4,973 million compared with about USD 4,477 million in 2021, an increase of about USD 496 million (about 11%), mainly deriving from increased sales in the Company's entire groups.
Additional data:
- 44% growth in net income to approx. USD 213 million compared with net income of approx. USD 148 million in 2021
- Positive cash flows from operating activities of approx. USD 797 million as opposed to positive cash flows from operating activities of approx. USD 146 million in 2021
- Growth in sales to approx. USD 4,973 million compared with approx. USD 4,477 million in 2021
- Leap in order backlog to approx. USD 15.6 billion, representing 3.1 years of operation, compared with approx. USD 13.4 billion at the end of 2021
- 28% growth in annual EBITDA to approx. USD 560 million compared with approx. USD 436 million last year
- Gross profit in 2022 increased by USD 128 million to approx. USD 824 million in 2022 compared with approx. USD 696 million in 2021
- 46% growth in annual operating profit to approx. USD 316 million compared with approx. USD 217 million last year
- 5% increase in in-house R&D activity in 2022 to approx. USD 215 million compared with approx. USD 204 million last year
- Free cash flow of some USD 1,061 million
The sales of the Military Groups (*) in 2022 increased by about 6.2% to about USD 4,105 million compared with about USD 3,867 million in 2021, an increase of about USD 238 million. The sales of the Aviation Group in 2022 increased by about 17.4% to about USD 1,404 million compared with about USD 1,196 million in 2021, an increase of about USD 208 million.
Sales for export in 2022 totaled about USD 3,607 million (about 73%) and sales to the local market totaled about USD 1,366 million (about 27%), compared with about USD 3,219 million (about 72%) and about USD 1,258 million (about 28%) in 2021, respectively.
Amir Peretz, Chairman of the Board of Directors of IAI: “Israel Aerospace Industries has this year achieved an all-time record both for new business and net profit, and above all, backlog, for the company’s systems, which both arouse considerable interest and demand around the world. This allows us to formulate work plans for the long-term, which are the basis of the company’s stability.
“Since we have no intention of resting on our laurels, IAI’s Board of Directors has set and continues to set, ambitious goals, to fully support and advance the professional and business activities of IAI’s Groups, which represent the heart of the company’s activity.”
“Developing advanced technological capabilities, to help preserve the IDF’s operational advantage and its ability to deal effectively with changing challenges, continues to lie at the center of our activities, and for that purpose we are increasing the resources dedicated to R&D,” said Boaz Levy, IAI’s President & CEO.
“The company continues to achieve pathbreaking advances, in a wide range of fields, thanks to its workers and managers, who continue to be at the heart of our company’s qualitative advantage.”
