Rafael Advanced Defense Systems Ltd. today published its financial results for 2014, showing a slight decline in sales and net profit. Sales totaled $1.96 billion, compared with $2.04 billion in 2013, and net profit totaled $90 million, compared with $101 million in 2013.
At the same time, the figures published and approved by the company board of directors indicate that 2014 was a record breaking year at Rafael for new orders: NIS 10.5 billion, compared with NIS 6.5 billion in 2013. Rafael's orders backlog is NIS 19.5 billion. 55% of its orders are for exports to a large number of countries in Asia, Europe, and North and South America.
Senior companies sources said that efforts would be increased in the coming years to expand Rafael's global business, including overseas production of items and systems. Rafael's known developments include the Iron Dome missile interceptor system, the Trophy system for protection of tanks and APCs against anti-tank missiles, multi-purpose tactical missiles, and attack, navigation, and aerial photography systems.
According to Rafael CEO Gen. (res.) Yedidia Yaari, together with the extensive use of Rafael's products in Operation Protective Edge, the company's international marketing was increased last year, with penetration into new markets through cooperative efforts with other companies. "This year, Rafael has also bolstered its efforts in the cyber and intelligence fields, as well as in defense and security for civilian infrastructure and facilities," Yaari said. Rafael chairman Brig. Gen. (res.) Yitzhak Gat said, "Realizing our potential in the international markets is a key and substantial element in the continuation of Rafael's growth."
Published by Globes [online], Israel business news - www.globes-online.com - on March 19, 2015
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