IAI reports full-year 2021 net income of US$148 million

Israel Aerospace Industries (IAI) has reported a 2021 growth in sales to US$4,477 million, compared to US$4,184 million in 2020. The company reported an 11% increase in net income to US$148 million compared to net income of US$133 million in 2020 and 10% growth in annual EBITDA to US$436 million compared to US$397 million in 2020. Gross profit in 2021 increased by US$31 million, to US$696 million in 2021 compared to US$665 million in 2020.

Annual operating profit increased 11% to US$217 million compared to US$195 million in 2020. R&D activity (in-house and contracted) increased 5% in 2021 to US$1,083 million compared to US$1,036 million in 2020.

Order backlog at the end of 2021 was US$13.4 billion, representing three years of operation, compared to US$12.6 billion at the end of 2020. IAI reported free cash flow of approx. US$905 million. (£1.00 = US$1.31 at time of publication).

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