IAI published its financial statements today (Tuesday) showing that 2021 was the most profitable year in the company's history, with the highest median sales volume in the company's history - about $ 2.2 billion. The company's credit rating also rose and stands for the first time. On AA + according to the S&P rating company.
According to the report, the company's net profit showed a 22% increase in the first half of 2021 to about $ 100 million compared to about $ 82 million in the same period last year, making it the most profitable median in the company's history. 21% in net profit and it rose to about $ 58 million in the second quarter compared to about $ 48 million in the corresponding quarter last year - the most profitable quarter in the company's history.
Operating profit grew in the first half of 2021 to about $ 138 million (about 6.4% of sales) compared to operating profit of about $ 127 million (about 6.1% of sales) in the corresponding period last year.
An increase in operating profit in the second quarter to approximately $ 71 million (approximately 6.2% of sales) compared with an operating profit of approximately $ 66 million in the corresponding quarter last year (approximately 6.2% of sales).
Golfstream plane converted to the "Nachshon" intelligence plane by IAI // Photo: Dudu Greenspan,
In addition, there was an increase in gross profit in the first half of 2021 to approximately $ 351 million (approximately 16.2% of sales) compared to approximately $ 333 million in the corresponding period last year (approximately 16% of sales).
A 13.5% increase in gross profit in the second quarter of 2021 to approximately $ 185 million (approximately 16.1% of sales) compared to approximately $ 163 million (approximately 15.4% of sales), in the corresponding quarter last year.
There was a 4.1% increase in sales to $ 2,164 million in the first half of 2021, compared to about $ 2,078 million in the same period last year - the highest sales volume in the first half of the company's history.
An increase of about 8.4% in the company's sales in the second quarter of 2021 to about $ 1,149 million compared to about $ 1,060 million in the corresponding quarter last year.
Meanwhile, there was a 20% increase in self-research and development expenses in the first half of 2021 to about $ 85 million compared to about $ 71 million in the same period last year.
A 53% increase in research and self-development expenses in the second quarter of 2021 to about $ 49 million compared to about $ 32 million in the corresponding quarter last year.
Strategic drone in action // Photo: IAI,
Outgoing IAI Chairman Harel Locker: "Last week I ended my tenure as Chairman of the Company's Board of Directors after exactly four years. During these years, the company underwent a sharp business transformation. In the first half of 2021, the company achieved its best business results ever. I am proud of the privilege I was given to lead Israel's largest industrial, technological, and security company in this revolution. "We launched the" Genesis "spacecraft to the moon, the" Horizon 16 "satellite into space, the Arrow 3 missile in Alaska, and we reached many other groundbreaking technological achievements. The aerospace industry is a source of pride for the citizens of Israel for its technological and security achievements."
Experiment at sea in the "Laura" weapons system // Photo: IAI,
IAI CEO Boaz Levy: “We have concluded an excellent median and quarter for IAI. This is, among other things, thanks to the wide mix of technological and operational concepts, groundbreaking products and the variety of markets in Israel and in the world in which we operate. Along with the impressive performance of the military divisions, we see in the aviation division also signs of recovery from the corona crisis, an increase in contracts for executive jets and a positive effect of the volume of world trade flown on the field of cargo conversions. We have increased our investment in research and development from our own sources in the middle so that the aerospace industry systems will continue to lead the future battlefield. It should be noted that the company's products participated in Operation Wall Guard in the air, at sea, on land and in space and contributed significantly to the safety of Israeli residents. "