Rafael Earns $112M from Sales worth of $1.6B in 2009

Rafael  Advanced Defense Systems Ltd. ended the year 2009 with a record net profit of $112 million, orders totaling $1.9 billion, and an order backlog of $3.5 billion and sales of $1.6 billion.

The company released its financial report for 2009 on March 12, 2010. The record-breaking earning was mainly attributed to worldwide exports. Financing revenue - including interest, currency securities, conversion and management of investment portfolios - accounted for approximately one-third of the company’s net profit.  At the end of 2009, Rafael posted an order backlog of $3.5 billion, constituting about two years’ operations. Approximately 76% of the order backlog is intended for export to a variety of countries, especially in Europe, Latin America, and the Far East, as well as to the United States. 

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VADM (Ret.) Yedidia Yaari, CEO of Rafael, said that Rafael ended 2009 with very good financial results which are the economic outcome of massive investments in R&D, manufacturing capabilities, and effective business and marketing activities. "In 2009, Rafael continued to successfully adapt itself to its customers’ operational requirements and provide customers with the relevant solutions, both on a system-wide and on a specific scale, while adhering to budgetary and scheduling conditions.  Rafael's exceptional capabilities are a result of years of development efforts by outstanding people and by a culture of striving-without-compromise to meet the company’s commitment to customers in Israel and abroad."

Category

2009 Performance

2008 Performance

Net Profit

$112m

$46m

Sales

$1.6bn

$1.52bn

Orders

$1.86bn

$2.51bn

Order Backlog

$3.46bn

$3.17bn

According to Maj. Gen. (Ret.) Ilan Biran, Chairman of the Board at Rafael, the company always strives to combine its success and its vision - that is, to be the national laboratory in contributing to the security of the State of Israel, and at the same time to be a growing global company, developing and manufacturing defense systems at the forefront of operational requirements and on the cutting edge of technology. "The large order backlog and robust finances enable Rafael to continue investing extensive resources in research and development, as well as advancing the potential of the company’s human resources. Together, these constitute a stable foundation for the expansion and development, necessary to respond to the global changes occurring worldwide in the demand for security solutions." said Biran.

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