The highest grossing year since the company’s inception

The Company’s order backlog leaped to about USD 18 billion and sales grew to about USD 5,327 million – the highest ever in Company history. 49% increase in net income to about USD 318 million – the highest ever. Positive cash flows from operating activities totaled about USD 1,545 million.

Amir Peretz, Chairman of the Board of Directors of IAI:“At this time, and more than ever, I am proud to be heading Israel’s largest government-owned defense company, which in 2023 faced unexpected challenges. The international changes that affected our ability to conduct business in a normal way in areas where stability was undermined, and in addition the fighting in Israel, forced us to adjust the company’s policy. The company worked round the clock to meet the IDF’s operational requirements, and supply all the needed munitions. New systems that were in the final stages of development were deployed operationally, including different autonomous systems. Despite the difficulties of the situation, we maintained the upward trend of the company’s business results, and 2023 ended as our best year since the establishment of IAI in all its business parameters.”

Boaz Levy, CEO of Israel Aerospace Industries:“Israel Aerospace Industries’ financial report for 2023 well reflects a year of significant and varied activities – one in which the country was at war during the last quarter. The mobilization of our employees for wide-ranging and intense work in support of Israel’s defense establishment, and not least, our activities for our foreign clients, have brought about groundbreaking results in what has been a challenging year. The considerable increase in R&D is noteworthy and its results can be seen every day, even during the current Iron Swords conflict. We are proud that this year too our partners and customers abroad are expressing their confidence in IAI’s advanced systems, solutions which express the spirit of innovation, professional commitment and dedication that characterizes the men and women employees of the company.”