Sales surge for BAE Systems in FY2019
BAE Systems confirmed that the company saw a 7% increase in sales throughout FY2019. This represents an increase of £1.7 billion ($2.18bn).
At the same time, operating profit increased to £1.89 billion with basic earnings per share also jumping 48% to 46.4p.
Charles Woodburn, CEO of BAE Systems said: ‘2019 has been a year of significant progress for BAE Systems. We delivered a good set of financial results in line with guidance, growing sales and earnings, with improved operational performance and increased investment in the business to underpin our growth outlook’.
A number of key contracts were awarded or renewed throughout the year including a £230m seven-year Torpedo repair and maintenance contract, increased demand for the Advanced Precision Kill Weapon System (APKWS)and a £352 million contract to upgrade various M88 vehicles.
In a statement released by the company on 20 February, the group reported that: ‘For the year ending 31 December 2020, the Group’s underlying earnings per share is expected to grow by mid-single digit percentage compared to the full-year underlying earnings per share in 2019 of 45.8p, assuming a $1.30 to sterling exchange rate.’
Related Equipment in Defence Insight
More from Defence Notes
-
![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%.
-
![Singapore plots a way forward with new technology and formation reform]()
Singapore plots a way forward with new technology and formation reform
Singapore spends about 3.5% of GDP on defence and the section’s budget sits on high on the proportion of national spending. The country is investing in uncrewed technology, medium- and long-range fires and new submarines and ships with the hunt also on for new maritime patrol aircraft.
-
![World Defense Show promises bigger and better event for 2026]()
World Defense Show promises bigger and better event for 2026
At this year's IDEF in Istanbul, Shephard spoke to World Defense Show (WDS) CEO Andrew Pearcey about his event's strategic role in Saudi Arabia, its themes and new features for 2026 and how it has grown since its launch in 2022.
