Israel Aerospace Industries's (IAI) net income saw a surge of 48%, amounting to USD 135 million in the first fiscal quarter of 2024, compared with USD 91 million from the previous year's first quarter, according to financial statements published by the company on Sunday.
The company stated this renders it the most advantageous quarter in the company’s history,
IAI said its cash flow, money, or securities generated by a company totaled USD 1,780 million, while its sales had garnered USD 1,432 million.
The company also noted that its earnings before interest, taxes, depreciation, and amortization (EBITDA) had grown by 19%, amounting to USD 217 million.
The company’s operating income, or profit after expense deduction, amounted to USD 147 million, while its gross profit totaled USD 273 million,
IAI said the sums garnered from the sale value of the orders that have not yet been shipped to customers amounted to USD 19.1 billion. The company noted that its free cash flow, or leftover cash after it had paid expenses or expenditures, amounted to USD 3,200 billion.
IAI 'able to restore a sense of security'
Chairman of IAI, Amir Peretz, noted regarding the statements “that Israel Aerospace Industries is Israel’s leading and most successful defense and technological company, and we are committed to continuing this excellent performance in all our fields of activity.”
He addressed Iran’s attack on Israel in mid-April. He said, “On the night of April 14, when IAI-developed systems proved capable of providing a good operational response to protect the country's skies against extra-atmospheric ballistic missiles, we were able to restore a sense of personal security to Israel’s population and subsequently received many expressions of interest from countries around the world.”
CEO of the company, Boaz Levy added, “The excellent financial results presented by the company clearly reflect its pioneering work, both in Israel and internationally, and its extraordinary contribution to Israel's security, as is evident beyond any doubt even in the latest fighting.”
Levy continued, “The whole world is witnessing the impressive performance of IAI’s systems in the face of unprecedented threats, attacks from Iran and its proxies, and the increase in demand all over the world for our systems is also a result of the innovation and originality demonstrated by the company's employees.”