Elbit attributes revenues boost to 2018 acquisitions

19 March 2019

Elbit Systems has reported a 9% increase in revenues year on year in 2018, attributed to an uptick in the sales of land systems in Europe through both its existing business and that of the newly-acquired IMI, as well as a boost to its commercial avionics sales via its new US subsidiary.

As of 31 December 2018, revenues for the year totalled USD3.68 billion, up from the USD3.38 billion reported over the same period in 2017.

This was credited to the success of the acquisition of Universal Avionics in April 2018, through which Elbit has increased its sales of commercial avionics, as well as to an increase in sales of land-based electronic warfare and armoured vehicle systems in Europe, which included revenue from IMI.

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