Israel Aerospace Industries (IAI) achieved record-breaking sales of about USD 5,327 million in 2023, with its order backlog soaring to approximately USD 18 billion.
According to IAI’s annual financial statements for the year, 2023 was its most successful year to date. The growth in the company’s sales amounted to a 49% increase in net income, reaching approximately USD 318 million, the highest ever recorded by the company.
“At this time, and more than ever, I am proud to be heading Israel’s largest government-owned defence company, which in 2023 faced unexpected challenges. The international changes that affected our ability to conduct business in a normal way in areas where stability was undermined, and in addition the fighting in Israel, forced us to adjust the company’s policy,” said Amir Peretz, Chairman of the Board of Directors of IAI.
“The company worked round the clock to meet the IDF’s operational requirements and supply all the needed munitions. New systems that were in the final stages of development were deployed operationally, including different autonomous systems. Despite the difficulties of the situation, we maintained the upward trend of the company’s business results, and 2023 ended as our best year since the establishment of IAI in all its business parameters,” he added.
“Israel Aerospace Industries’ financial report for 2023 well reflects a year of significant and varied activities – one in which the country was at war during the last quarter. The mobilization of our employees for wide-ranging and intense work in support of Israel’s defence establishment, and not least, our activities for our foreign clients, have brought about groundbreaking results in what has been a challenging year,” said Boaz Levy, CEO of IAI.
The financial report for 2023 reflects IAI’s commitment to innovation and excellence, with notable increases in research and development (R&D) expenditure. The company’s positive cash flows from operating activities reached approximately USD 1,545 million, indicating robust financial health and operational efficiency.
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