Rafael Reports Record-High Sales of $2.2B in FY 2017
The company concluded FY 2017 with a net profit of $124 million, as well as record-high sales ($2.2 billion), record-high orders ($3 billion) and record-high order backlog ($6.9 billion)
IsraelDefense |
Israeli Merkava tank equipped with a Trophy APS (Photo: Rafael)
Rafael Advanced Defense Systems has released its financial results for FY 2017. The company posted a net profit of 124 million dollars and record-high sales ($2.2 billion), record-high orders ($3 billion) and record-high order backlog ($6.9 billion)
Rafael, marking its 70th anniversary this year, develops and manufactures advanced defense systems for the IDF and the Israeli defense establishment as well as for many countries around the world, and conducts global partnerships. In 2017, the company continued to develop, manufacture and market its systems and capabilities, providing users with end-to-end solutions for various air, land, naval, space, and cyber requirements.
Approximately 46% of Rafael's sales are intended for export to many countries in Asia, Europe, North America, and South America. In FY 2017, the company was assigned the S&P 'A-' rating; outlook stable, and a local AAA ranking.
In the area of air defense, the company continued developing the combat-proven Iron Dome and delivered the David's Sling air defense system to the Israeli Air Force. The "C-Dome" system for naval air defense of ships, rigs and other assets, was declared operational by the Israeli Navy. The company also delivered new anti-drone capabilities.
In the land domain, Rafael continued its delivery of the Trophy APS, the world's only operational, combat-proven active defense system for armored fighting vehicles, for the IDF's "Merkava" tanks and "NAMER" AFVs. Rafael also unveiled the SPIKE LR, the new fifth-generation tactical EO missile, and sold it to the IDF and other customers. It also unveiled the laser interception capability of the Drone Dome anti-drone system and won Israel's National Credit Registry competition for cyber defense. In August 2017, Rafael marked the first-ever Israeli satellite electric propulsion on the Venus Satellite.
The company also continued its investment and professional development of its human capital, while maintaining its investment in R&D (8% of sales) and its significant cooperation with academic institutions, as well as the opening of new R&D facilities throughout the country, mainly dealing with cyber, intelligence, AI, and other emerging technologies. In 2017, it recruited some 700 new employees.
President and CEO of Rafael, Maj. Gen. (ret.) Yoav Har-Even said that the company's achievements in 2017 are a result of investment in those two main areas: human capital and R&D. He emphasized that together they enable Rafael to develop, produce, and market its advanced systems and capabilities that address the various needs and operational requirements in air, land, space, and cyber domains. "The talent, creativity, and professionalism, combined with tight company-client cooperation and understanding of the needs, are what enable us to make technological and operational breakthroughs and to carry out our strategy," he added.
Rafael's Chairman, Dr. Uzi Landau stated that Rafael continues to combine its role as a defense company and its service to the security of the State of Israel and its economy, with its position as a robust, vibrant, business-oriented company, with remarkable achievements. "These achievements are attributable to its 7500 employees who work to realize Rafael's vision of serving as a main pillar in the security of Israel," he said.
http://www.israeldefense.co.il/en/node/33629
The company concluded FY 2017 with a net profit of $124 million, as well as record-high sales ($2.2 billion), record-high orders ($3 billion) and record-high order backlog ($6.9 billion)
IsraelDefense |
Israeli Merkava tank equipped with a Trophy APS (Photo: Rafael)
Rafael Advanced Defense Systems has released its financial results for FY 2017. The company posted a net profit of 124 million dollars and record-high sales ($2.2 billion), record-high orders ($3 billion) and record-high order backlog ($6.9 billion)
Rafael, marking its 70th anniversary this year, develops and manufactures advanced defense systems for the IDF and the Israeli defense establishment as well as for many countries around the world, and conducts global partnerships. In 2017, the company continued to develop, manufacture and market its systems and capabilities, providing users with end-to-end solutions for various air, land, naval, space, and cyber requirements.
Approximately 46% of Rafael's sales are intended for export to many countries in Asia, Europe, North America, and South America. In FY 2017, the company was assigned the S&P 'A-' rating; outlook stable, and a local AAA ranking.
In the area of air defense, the company continued developing the combat-proven Iron Dome and delivered the David's Sling air defense system to the Israeli Air Force. The "C-Dome" system for naval air defense of ships, rigs and other assets, was declared operational by the Israeli Navy. The company also delivered new anti-drone capabilities.
In the land domain, Rafael continued its delivery of the Trophy APS, the world's only operational, combat-proven active defense system for armored fighting vehicles, for the IDF's "Merkava" tanks and "NAMER" AFVs. Rafael also unveiled the SPIKE LR, the new fifth-generation tactical EO missile, and sold it to the IDF and other customers. It also unveiled the laser interception capability of the Drone Dome anti-drone system and won Israel's National Credit Registry competition for cyber defense. In August 2017, Rafael marked the first-ever Israeli satellite electric propulsion on the Venus Satellite.
The company also continued its investment and professional development of its human capital, while maintaining its investment in R&D (8% of sales) and its significant cooperation with academic institutions, as well as the opening of new R&D facilities throughout the country, mainly dealing with cyber, intelligence, AI, and other emerging technologies. In 2017, it recruited some 700 new employees.
President and CEO of Rafael, Maj. Gen. (ret.) Yoav Har-Even said that the company's achievements in 2017 are a result of investment in those two main areas: human capital and R&D. He emphasized that together they enable Rafael to develop, produce, and market its advanced systems and capabilities that address the various needs and operational requirements in air, land, space, and cyber domains. "The talent, creativity, and professionalism, combined with tight company-client cooperation and understanding of the needs, are what enable us to make technological and operational breakthroughs and to carry out our strategy," he added.
Rafael's Chairman, Dr. Uzi Landau stated that Rafael continues to combine its role as a defense company and its service to the security of the State of Israel and its economy, with its position as a robust, vibrant, business-oriented company, with remarkable achievements. "These achievements are attributable to its 7500 employees who work to realize Rafael's vision of serving as a main pillar in the security of Israel," he said.
http://www.israeldefense.co.il/en/node/33629
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