Revenues and Backlog Up in Challenging Year

Elbit Systems reported its full-year results for the financial year ended 31 December 2020 on 24 March.

Highlights of the year include revenues at $4.7 billion (€3.96 billion – an increase of $200 million over the previous year), net income of $319 million and an earnings-per-share figure of $7.20 (both latter figures reported to non-GAAP standards) – order backlog stood at over $11 billion (an increase of $1 billion over 2019), of which approx. 65% is attributable to export orders.

Commenting on the results, Bezhalel Machlis, President and CEO, stated “2020 saw our employees around the world successfully address the challenges presented by the global Covid-19 pandemic and enabled Elbit Systems to achieve positive results for both the fourth quarter and the year. Our year-end backlog increased by 10% relative to the end of 2019, demonstrating sustained demand for our systems and services from our customers around the world […] Our solid backlog, combined with ongoing worldwide demand for our broad portfolio of technologies and solutions, provides us with confidence in the company’s future prospects.”