IAI has reported that sales in the first half (H1) of 2023 grew to about US$2,540 million compared with about US$2,359 million in H1 2022, an increase of about 8%, mainly deriving from the Systems Missiles & Space Group and the Military Aircraft Group.
The sales of the Military Groups in H1 2023 increased by about 7% to about US$2,136 million compared with about US$1,989 million in H1 2022, an increase of about US$147 million. The sales of the Aviation Group in H1 2023 increased to about US$675 million compared with about US$645 million in the corresponding period of last year.
The Company's sales in second quarter of 2023 (Q2 2023) amounted to about US$1,261 million compared with about US$1,159 million in Q2 2022, an increase of about 9%, deriving from the increased sales in the Systems Missiles & Space Group, the Military Aircraft Group and the ELTA Group.
The sales of the Military Groups in Q2 2023 increased by about 13% to about US$1,079 million compared with about US$959 million in the corresponding quarter of last year. The sales of the Aviation Group in Q2 2023 amounted to about US$319 million compared with about US$320 million in the corresponding quarter of last year.
Sales for export in H1 2023 accounted for about 73% of sales, totalling about US$1,850 million (about US$690 million, representing 27% of sales, to Israel), compared with about 71%, totalling US$1,684 million (about US$675 million, representing 29% of sales, to Israel) in the corresponding half of 2022.
Sales for export in Q2 2023 accounted for 73% of sales totalling about US$923 million (about US$338 million, representing 27% of sales, to Israel), compared with about US$848 million (about US$311 million, representing 27% of sales, to Israel) in Q2 2022.
Gross profit in H1 2023 amounted to about US$456 million (about 18% of sales), compared with about US$427 million (about 18% of sales) in H1 2022. Gross profit in Q2 2023 amounted to about US$215 million (about 17% of sales), compared with about US$214 million (about 18% of sales) in Q2 2022.
The operating income of the Aviation Group in Q2 2023 amounted to about US$9 million compared with operating income of about US$12 million in the corresponding quarter of last year.
Net income in H1 2023 increased by 28% to about US$165 million (about 6% of sales), compared with net income of about US$129 million (about 5% of sales) in the corresponding period of 2022. Net income in Q2 2023 amounted to about US$74 million (about 6% of sales), compared with net income of about US$51 million (about 4% of sales) in Q2 2022. (1.00 = US$1.27 at time of publication).
