Welcome to Episode 37 of the third series of The Weekly Defence Podcast. Listen on Apple Podcasts, Google Podcasts, Spotify and more.
IAI logs record H1 profits
Israel Aerospace Industries (IAI) claims to have achieved the most profitable half year and financial quarter in its history, with a 22% leap in net profits for H1 2021 and a 21% increase in Q2 2021.
H1 revenues of $2.16 billion (4.1% higher than in H1 2020) generated net income of approximately $100 million, the Israeli defence and aerospace group announced on 17 August.
‘The growth in sales was primarily due to the increased sales in the Systems Missiles & Space Group, partly offset by reduced sales in the Aviation Group,’ IAI stated.
Military business accounted for $1.89 billion of H1 sales (a 10.6% year-on-year increase), while the Aviation Group in IAI saw sales fall by $566 million.
Exports reached 72% ($1.56 billion) of overall sales in H1 2021 – the same percentage as H1 2020.
Notably, in-house R&D spending at IAI in H1 2021 rose by 20% year on year to about $85 million.
More from Defence Notes
The MoD is allocating funds to co-finance new solutions under the 2021 Grant Project Competition.
After completion of a feasibility study, 2Excel is commencing design and build work on a Boeing 757 testbed aircraft to develop sensor capabilities for the UK's Tempest sixth generation fighter programme.
British Army must run fast to establish a credible advantage over our potential adversaries, says Gen Sir Mark Carleton-Smith.
An initial £10.5 million is being invested from the Middle East in helping Aeralis to progress its eponymous modular aircraft.
In this video, Shephard Media CEO Darren Lake speaks to Shaun Ormrod, CEO of the World Defense Show (WDS), about what to expect from this ...