Elbit posts Q2 sales and order growth
Elbit Seagull USV. (Photo: Elbit Systems)
The acquisition of Sparton Corporation helped to drive Elbit’s Q2 financial performance.
Elbit Systems reported a 26% increase in its order backlog for Q2 2021, as sales reached $1.3 billion and net profits totalled $102 million.
President and CEO Butzi Machlis described a 21% increase in sales compared with Q2 2020 ($1.08 billion), as the order backlog grew to $13.6 billion.
Net R&D expenses remained the same as a proportion of revenues (7.3%) but increased in real terms from $79 million in Q2 2020 to $95.4 million the following year.
Organic sales growth contributed to the bottom line Q2 2021 but another factor was the $380 million acquisition, completed in April 2021, of US-based Sparton Corporation.
Sparton develops, produces and supplies systems supporting undersea warfare programmes for the USN and allies.
More from Defence Notes
-
![Israel defence ministry pushes ambitious spending plans for tanks, drones and KC-46 aircraft]()
Israel defence ministry pushes ambitious spending plans for tanks, drones and KC-46 aircraft
The procurement and acceleration production plans – some of which still await approval – across the air and land domains will aim to strengthen the operational needs of the Israel Defense Forces.
-
![Australia’s Exercise Talisman Sabre concludes after a series of firsts]()
Australia’s Exercise Talisman Sabre concludes after a series of firsts
More than 40,000 military personnel from 19 participating nations took part in the 11th iteration of the biennial Exercise Talisman Sabre multi-domain event which was held across Australia and in Papua New Guinea.
-
![US Africa Command targets logistic solutions]()
US Africa Command targets logistic solutions
AFRICOM is seeking IT systems and supply chain management solutions to enhance interoperability and standardise logistical processes in its area of responsibility.
-
![Rheinmetall sales up by almost a quarter on wave of German spending]()
Rheinmetall sales up by almost a quarter on wave of German spending
Germany’s Rheinmetall released its 1H 2025 results on 7 August, continuing the strong growth of recent years. A particular highlight of the result’s presentation was the Skyranger air defence system for which the company is predicting sales of about US$8.2 billion from the German Government before the end of the year.
-
![Defence companies continue to ride procurement wave]()
Defence companies continue to ride procurement wave
Vehicle and technology companies are reporting substantial growth compared to the first half of 2024. Italy’s Fincantieri saw revenues jump 24% for the first half of the year compared to 2024 and Thales up 6.8% for the same period. General Dynamics reported second quarter revenue growth of 8.9% for the second quarter compared to last year and MilDef reported organic order intake growth of 58%.
