Rafael ended 2023 with record sales of NIS 14 billion, a 21% increase compared to the previous year. The company's orders for the year totaled NIS 52 billion, up by 47% from the previous year, with 57% of the orders coming from international clients and the remaining 43% from Israel.
Notably, the company secured new orders worth NIS 30 billion in 2023, including NIS 17 billion from overseas clients. The net profit for the year amounted to NIS 588 million, marking a 17% increase, while the gross profit totaled NIS 2.9 billion, up by 19% compared to the previous year.
The fourth quarter of 2023, coinciding with the outbreak of the Iron Sabers war saw a peak in activity. During this quarter alone, Rafael received new orders totaling 14.5 billion shekels, compared to 5.7 billion shekels in the same quarter of the previous year. Over 61% of these orders were from international clients, following the completion of major export deals. Sales in the fourth quarter reached 4.5 billion shekels, marking a 19% increase compared to the same quarter last year.
Rafael's CEO, Dr. Yuval Steinitz, reflected on 2023 as a groundbreaking year for the company, characterized by unparalleled professional and business activity, marked by cutting-edge technological breakthroughs. He noted that the impact of the Iron Sabers war on Rafael's outcomes would primarily manifest in 2024.
Meanwhile, Rafael's CEO, Yoav Turjeman, outlined the company's readiness to face a challenging year of growth and development. He emphasized Rafael's continued global leadership in air defense systems and its efforts to strengthen its presence in various markets. Looking ahead, he announced plans to onboard approximately 2,000 new employees in the coming year.
In June, the company unveiled the "Sky Sonic" missile interceptor, the world's first of its kind designed to counter hypersonic missiles. Towards the end of the year, complex testing was conducted on the new configuration of the Spider AiO system, serving as a crucial defense mechanism in challenging scenarios. Additionally, Rafael continued its development of the "Magen-Or" system, a high-intensity laser defense system against aerial threats, marking a global technological breakthrough in land-based defense.
Defense Ministry: Record breaking $12.5b sold in 2022.
