Welcome to Episode 37 of the third series of The Weekly Defence Podcast. Listen on Apple Podcasts, Google Podcasts, Spotify and more.
Elbit posts Q2 sales and order growth
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.
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