Tel Aviv. Rafael Advanced Defense Systems Ltd. (RADS) has released its financial results for the 2020 fiscal year. Rafael develops and manufactures advanced defense systems for the Israel Defense Forces (IDF) and the defense establishment in Israel and for many countries around the world, with over 100 global partnerships.
In 2020, Rafael recorded sales totaling US$2.7 billion, and a net profit of US$94 million.
Its orders were US$2.3 billion, and its order backlog was US$7.1 billion, equivalent to 2.3 years of sales activity.
In 2020, Rafael continued to develop, manufacture and market its systems and capabilities, providing users with end-to-end solutions for various air, land, naval, space and cyber requirements. Despite COVID-19 limitations, Rafael continued to stand by its commitment of on-time delivery to its customers around the world, while remaining active in forging new industrial alliances with its global partners to facilitate domestic production, transfer of technology and support of local economies.
In addition, in 2020 Rafael continued its investment and professional development of its human capital, while maintaining its significant investment in R&D (9.3 per cent of sales) and its cooperation with academic institutions, opening new R&D facilities throughout the country, mainly dealing with cyber, intelligence, AI, space, and other emerging technologies.
Rafael is one of Israel’s three largest defense companies, with 8,000 employees and numerous subcontractors and service suppliers, indirectly providing employment for some 20,000 households.
Rafael’s President & CEO, Maj. Gen. (Ret.) Yoav Har-Even said: “In the past year we have continued to carry out a wide variety of activities to address the security needs of Israel and of our customers and partners around the world. Our performance has been widely affected by the global COVID-19 crisis, lack of a national budget in Israel, and the erosion of the Shekel-to-Dollar exchange rates.
However, our foresight and planning, through careful marketing, operational activities, and above all, the commitment of all of our employees, have been effective in reducing the impact of these factors, and meet all of our deadlines and delivery commitments, while expanding our business activity in areas such as M&A, penetration into new markets, and development of new domains of activity.”
-The writer is an International Roving Correspondent of the publication
-The writer is an Israel-based freelance journalist. The views expressed are of the writer and do not necessarily reflect the views of Raksha Anirveda
