European missile manufacturing consortium MBDA announced in its annual results that the firm’s order book had hit a record EUR17.4 billion (USD19.78 billion) following an absolute-terms increase of EUR600 million.
“This backlog is important as it provides us with important coverage and mid-term planning for us and provides us with confidence as management to continue with our planned investments in our capabilities and product development” Chief Financial Officer Peter Bols said.
The news came as the company recorded orders of EUR4 billion in 2018, a slight decline on 2017’s EUR4.2 billion. According to Bols, the firm’s book-to-bill ratio remained above 1.0x, demonstrating ongoing demand for the company’s platforms and systems.
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