Israel Aerospace Industries President and CEO Boaz Levy told The Jerusalem Post in August that the profits for the recent year, half-year, and quarter for the company were off the charts.
He emphasized that the mix of profits from prior sales and new orders jumped to $19 billion, marking the best period ever for the company.
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This included an increase in net income of 28% in comparison to the same period in 2022.
Standard and Poor’s raising IAI’s rating to AAA was a first-ever for the company, and made it clear that its growth is highly reliable not just in the near future but beyond, said the CEO.
In addition, he stated that due to Russia’s ongoing attacks on Ukraine, European countries now feel that war is closer to their borders and that the threat they face is more constant. This has translated into their thinking more about security needs, from companies like IAI, as more of a long-term investment.
Likewise, IAI Chairman Amir Peretz referenced that the Russia-Ukraine war is unlikely to end soon, and that this would keep European defense spending – and likely that of other countries, such as Japan – much more elevated than in prior decades. Peretz was also thrilled about IAI’s recent deal with Germany moving forward on the sale of the Arrow 3 missile defense system, the largest defense deal in the country’s history.