Sales and profit increase in Elbit’s second quarter

16 August 2019

Israeli defence manufacturer Elbit Systems recorded revenues of USD1.06 billion in the second quarter of its 2019 financial year, results published on 15 August revealed. The sales figure, a 19.2% rise on the same period on 2018, was primarily driven by the company's acquisition of IMI Systems, which was completed in November 2018.

Elbit's operating income also increased significantly year on year, reaching USD89.6 million compared with USD73.1 million in 2018. The company's order backlog increased during the period to USD9.796 billion, around 60% of which accounted for by customers outside Israel.

President and CEO of Elbit Systems Bezhalel Machlis said, "We are also encouraged that, with the IMI consolidation, our ongoing focus on efficient operations enabled us to maintain a similar level of operating margins to that of the second quarter last year.

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