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Yesterday Rafael Advanced Defense Systems Ltd. announced its financial results for FY 2019, amid the COVID-19 global crisis, with record sales of $2.7 billion, an increase of 3.9% compared to 2018.

The company’s orders totaled $2.8 billion (10 billion Shekels), with record high export orders, and an order backlog of $7.2 billion (24.8 billion Shekels), equivalent to 2.5 sales years, despite the significant depreciation in the Dollar- and Euro-to-Shekel exchange rates. In addition, in 2019, the company handed over a dividend of some 500 million Shekels to the Israeli government.

Rafael President & CEO, Maj. Gen. (Ret.) Yoav Har-Even said during the presentation: “As Rafael concludes the 2019 fiscal year, in addition to its significant contribution to developing and providing defense technologies, it is also engaged in the effort to find solutions for the COVID-19 and against its spread. We are certain that the company’s financial robustness will ensure its ability to face the coming uncertainties and challenges. These days, thanks to adequate preparation, we are able to carry out our work, while adhering to the Ministry of Health’s directives, and to maintain our commitments, with the relentless hard work of our outstanding men and women who consider this effort their mission.”

In the past year, Rafael was able to announce the sale of two Iron Dome batteries to the U.S. Army, and an on-time delivery of the U.S. Army’s first TROPHY Active Protection Systems. In 2019, Rafael received an urgent order from India for the supply of SPIKE missile systems, and a major order for SPIKE from Germany, while expanding its SPIKE user-base to 34 nations.

Julian Hoffmann