28 March 2018
Rafael Advanced Defense Systems Ltd. has released its financial results for FY 2017. The company posted a net profit of 124 million dollars and an all-time high in sales ($2.2 billion), record-high orders ($3 billion) and record-high order backlog ($6.9 billion), equivalent to 2.5 years of activity.
|Category||2017 Results||2016 Results|
|Net Profits after taxes||$124M (446 M Shekels)||$100M (386M Shekels)|
|Sales||$2,258M (8,128M Shekels)||$2,030M (7,795M Shekels)|
|Orders||$3,095M (11,142M Shekels)||$2,680M (10,293M Shekels)|
|Order Backlog||$ 6,941M (24,065M Shekels)||$5,661M (21,767M Shekels)|
Rafael develops and manufactures advanced defense systems for the IDF and the defense establishment in Israel and for many countries around the world, and conducts global partnerships. This year Rafael is marking its 70th anniversary.
Rafael is the largest employer in Northern Israel with approximately 7,500 employees and numerous subcontractor and service suppliers, indirectly providing employment for some 20,000 households.
In 2017 Rafael continued to develop, manufacture and market its systems and capabilities, providing users with end-to-end solutions for various air, land, naval space and cyber requirements.
In the area of air defense, this past year the company carried on with its continuing development of the combat-proven Iron Dome, delivered the David’s Sling air defense system to the Israeli Air Force, and its “C-Dome” system for Naval air defense of ships, rigs and other assets, was declared operational by the Israeli Navy, and new capabilities against the threat of drones.
In the land domain, Rafael continued its delivery of the Trophy APS, the world’s only operational, combat-proven active defense system for armored fighting vehicles, for the IDF’s “Merkava” tanks and “NAMER” AFV’s. Rafael also unveiled the SPIKE LR, the new 5th generation tactical, EO missile, and its sale to the IDF and other customers. It also unveiled the laser interception capability of the Drone Dome anti-drone system, and it won Israel’s National Credit Registry competition for cyber defense. In August 2017, Rafael marked the first-ever Israeli satellite electric propulsion on the Venus Satellite. These join many other achievements throughout the year.
In addition, in 2017 Rafael continued its investment and professional development of its human capital, while maintaining its investment in R&D (8% of sales) and its significant cooperation with academic institutions, as well as the opening of new R&D facilities throughout the country, mainly dealing with cyber, intelligence, AI and other emerging technologies. In 2017 it recruited some 700 new employees.
Approximately 46% of Rafael’s sales are intended for export to many countries in Asia, Europe, North America, and South America.
In FY 2017 Rafael was assigned the S&P ‘A-‘ rating; outlook stable, and a local AAA ranking, the highest for an Israeli company.
President and CEO of Rafael, Major General (ret.) Yoav Har-Even stated: Rafael’s achievements in 2017 are a result of investment in two main areas: its human capital and its R&D. Together they enable Rafael to develop, produce and market its advanced systems and capabilities that address the various needs and operational requirements in air, land, space, and cyber domains. Har-Even added: “The talent, creativity and professionalism, combined with tight company-client cooperation and understanding of the needs, are what enable us to make technological and operational breakthroughs and to carry out our strategy.” Har-Even thanked the Board of Directors, the managers and the employees for working together and for contributing to the country’s security and to its economy.
Rafael’s Chairman, Dr. Uzi Landau stated that Rafael continues to combine its role as a defense company and its service to the security of the State of Israel and to its economy, with its position as a robust, vibrant, business-oriented company, with remarkable achievements. Dr. Landau added that “these achievements are attributable to its 7500 employees who work to realize Rafael’s vision of serving as a main pillar in the security of Israel.” Dr. Landau expressed his appreciation and gratitude to the CEO, to the Board of Executives, to the Board of Directors, and to the employees, for their contribution to the security of the State of Israel and to Rafael’s continuing success in Israel and around the world.