Defense solutions provider Elbit Systems records a climb in their Q2 results; secures a $1.635 billion contract from Europe for their defense solutions.
Israel-based military technology company, Elbit Systems Ltd. (ESLT), has been awarded a significant defense contract worth $1.635 billion by an unnamed European country [1][2][3][4]. The contract, spanning over a five-year period, includes a comprehensive range of advanced defense solutions.
The contract comprises two main groups of high-tech military systems:
- Long-range precision strike and unmanned aerial systems
- Tactical and operational long-range artillery-rocket systems with precision strike capability.
- A broad array of unmanned reconnaissance and loitering aerial combat systems, including personally operated drones, covering operational to tactical ranges.
- Advanced ISTAR (Intelligence, Surveillance, Target Acquisition, and Reconnaissance) and electronic warfare systems
- SIGINT (Signals Intelligence) and COMINT (Communications Intelligence) electronic warfare equipment.
- Intelligence collection and processing tools integrated with electro-optical (E/O) and night-vision systems.
- Upgrades for combat vehicles and protective systems.
In addition, the deal includes a military digitalization and Network Combat Solution that integrates C4ISR (Command, Control, Communications, Computers, Intelligence, Surveillance, and Reconnaissance) across all operational levels using cutting-edge software and hardware communication equipment enabled by embedded artificial intelligence [1][2].
The contract also features industrial cooperation to strengthen the buyer’s national industrial capabilities in these technological areas [1]. Elbit Systems emphasized the operational effectiveness of these integrated, multi-domain solutions and their importance in modern "battlefield-ready" defense forces [1][2].
In its second quarter, Elbit Systems reported higher profit and revenues. The increase in revenues was driven by sales in various regions, including Israel, Asia Pacific, and Europe. Aerospace revenues increased 12 percent, primarily due to increased Precision Guided Munition (PGM) sales in Israel and Asia Pacific, and UAS sales in Europe. C4I and Cyber revenues increased 21 percent, mainly due to radio systems and command and control systems sales in Israel and Europe [5].
The Company's order backlog as of June 30 totaled $23.8 billion, with approximately 68 percent attributable to orders outside of Israel [6]. A significant portion of the order backlog is scheduled for completion in the next two years [7]. The second quarter's net income attributable to the shareholders climbed to $125.70 million from $78.37 million last year [8].
Elbit Systems' Board of Directors also declared a dividend of $0.75 per share with a record date of October 14 and payable on October 27 [9].
References:
- Globes
- Ynet
- Reuters
- Calcalist
- Elbit Systems Q2 2021 Results
- Elbit Systems Q2 2021 Results
- Elbit Systems Q2 2021 Results
- Elbit Systems Q2 2021 Results
- Elbit Systems Q2 2021 Results
- The defense contract awarded to Elbit Systems includes the development and integration of advanced ISTAR (Intelligence, Surveillance, Target Acquisition, and Reconnaissance) and electronic warfare systems, such as SIGINT and COMINT equipment, intelligence collection and processing tools, and upgrades for combat vehicles and protective systems.
- The European country's partnership with Elbit Systems also involves industrial cooperation to strengthen its national industrial capabilities in technology areas like long-range precision strike, unmanned aerial systems, and military digitalization, which will integrate C4ISR (Command, Control, Communications, Computers, Intelligence, Surveillance, and Reconnaissance) across all operational levels.
