BAE Systems achieved a “good set of financial results” last year, including increased sales and earnings, according to the UK-based defense company.
Sales rose 7% to GBP20.1 billion (USD25.9 billion) in 2019, while underlying earnings before interest, taxes, and amortisation (EBITA) grew 5% to GBP2.1 billion (USD2.7 billion), BAE announced on 20 February.
BAE maintained a “strong balance” between production and aftermarket services, and the geographic mix of its business continued to evolve, the company said. While revenue from the UK and Saudi Arabia was stable, US and other international business expanded.
The US, BAE’s largest market, accounting for 43% of sales in 2019, followed by the UK at 22% and Saudi Arabia at 13%.
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