Israel Aerospace Industries marks profitability and growth for third quarter of 2021

Israel Aerospace Industries has issued its consolidated financial statements for the nine months ended September 30, 2021 (reporting period) and for the third quarter of 2021 (Q3 2021).

The company’s sales in the reporting period grew to approx. US$3,205 million compared with approx. US$3,084 million in the corresponding period of 2020, an increase of US$121 million, representing approx. 3.9%. The growth in sales mainly derives from the increased sales in the Systems Missiles & Space Group and the Military Aircraft Group, partly offset by reduced sales in the ELTA Group.

The company’s sales in Q3 2021 grew and amounted to approx. US$1,041 million compared with approx. US$1,006 million in Q3 2020, an increase of approx. US$35 million.

Net income in the reporting period increased by 17% to approx. USD$131 million (approx. 4.1% of sales), compared with net income of approx. US$112 million (approx. 3.6% of sales) in the corresponding period of 2020. Net income in Q3 2021 amounted to approx. US$31 million (approx. 3% of sales), compared with net income of approx. US$30 million (approx. 3% of sales) in Q3 2020.

EBITDA in the reporting period amounted to approx. US$361 million (approx. 11.3% of sales), compared with approx. US$311 million (approx. 10.1% of sales) in the corresponding period of 2020. EBITDA in Q3 2021 amounted to approx. US$109 million (approx. 10.5% of sales), compared with approx. US$88 million (approx. 8.7% of sales) in Q3 2020. (£1.00 = US$1.33 at time of publication)

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