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Rafael • Following the war: sales volume of NIS 4.5 billion in the last quarter • a 36% increase from last year

(haipo) - Rafael presents record data in the third quarter of 2024 (July-September), in relation to sales, which is brought to you by Hai Pa News Corporation.

  • The volume of sales in the third quarter of 2024 (July-September) totaled NIS 4.5 billion, an increase of 36% compared to the corresponding period last year.
  • The backlog of orders rose to a record high and crossed the 60 billion NIS mark for the first time in history.
  • The net profit from the beginning of 2024 is more than half a billion NIS.

On Thursday, 28/11/24, Rafael Advanced Combat Systems Ltd publishes its financial results for the third quarter (July-September) of 2024, which ended on 30/09/2024, with sales amounting to 4.5 billion shekels, an increase of approximately 36 % of the corresponding period last year, the volume of orders in the third quarter (July-September) stands at 5,2 billion NIS, compared to NIS 4.7 billion in the corresponding period last year.

Dr. Yuval Steinitz (Photo: Raphael)

Raphael's chairman, Dr. Yuval Steinitz:

Amazing results! Especially in light of the intensification of the war in the north and the massive firing into the Western Galilee where the Rafael facilities operate. Rafale systems proved themselves operational in battle and Israel's technological superiority was reflected in the war in 7 different arenas at the same time. The financial strength of the company reflected in the excellent financial statements includes a significant increase in profit, orders and sales and reaching new records. About a month ago, we received an invitation from the Ministry of Defense expanding the equipping of the "Magan Or" system, which will be deployed in about a year and will significantly change Israel's concept of defense. Rafael employees work with determination and dedication to ensure the safety of the citizens of the State of Israel in projects that prove time and time again how to make the impossible possible. On behalf of myself and the board of directors, I congratulate that these achievements are also reflected in the company's financial results.

Additional data:

  • The total volume of orders for the first nine months of 2024 amounts to NIS 19,442 million.
  • This is a 27% increase compared to the corresponding period last year and the backlog of orders crossed the 60 billion NIS mark for the first time in history and stands at 60.08 billion NIS compared to 43.57 billion NIS in the corresponding period last year.
  • In the period of the months January-September 2024, the backlog increased by approximately NIS 7.6 billion compared to the end of 2023.
  • The net profit in the first three quarters of 2024 stands at 553 million NIS compared to 119 million NIS in the corresponding period last year.
  • The company's sales in the first three quarters of 2024 amounted to approximately NIS 12,368 million, compared to approximately NIS 9,449 million in the corresponding period last year, an increase of approximately 31%.
CEO of Rafael, Yoav Turgeman (Photo: Rafael)

Rafael CEO Yoav Turgeman added:

We conclude another quarter in which, despite the "Northern Arrows" operation and its effects on the area where Rafael operates, the company continues the trend of growth and presents excellent financial data and financial stability alongside intensive work in the development and production of the most advanced combat systems in the world. These systems contributed and contribute significantly in the "Iron Swords" war both in defense, with "Iron Dome", "David's Slingshot" and "Windbreaker" and in attack and the ability to gather intelligence.

Rafael shows an increase of about 31% in the company's sales this year and the backlog of orders crossed the NIS 60 billion mark for the first time thanks to a number of significant contracts from major customers in the world and the defense establishment.

The "Iron Swords" war has entered its second year and Rafael employees are all still being recruited into the war effort to continue providing the defense system with a decisive technological advantage.

As a result of the continuous increase in demand and activity and in order to meet our obligations to our customers, we have recruited approximately 1,800 new employees since the beginning of the year. In the coming months, we will continue to take on hundreds more employees, from the best minds, who will help us continue developing breakthrough technologies that give the security systems a significant advantage on the battlefield.

contact: At watsapBy email

Mia Zahavi
Mia Zahavi
Mia Zahavi - editor at Hai Pa - the news corporation

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