company Raphael – Advanced Combat Systems published over the weekend the financial report for the first quarter of 2024, from which it seems that the company, which specializes in advanced combat systems, reached total sales of NIS 3.9 billion, almost a billion NIS more than the corresponding period last year – an increase of 31.5 percent, despite, and perhaps because of, the war.
The company reported a net profit of NIS 232 million, which is about 5.9 percent of sales, while in the same quarter last year, the net profit was only NIS 48 million. The number of orders in the summary of the first quarter of this year is up to 7.8 billion shekels in total – an increase of 16 percent compared to the first quarter of 2023, when the number of orders was 6.7 billion shekels. In addition, this is an increase of approximately three billion shekels compared to the end of 2023, which is the result of receiving orders from Israel and abroad.
Rafael’s Chairman, Dr. Yuval Steinitz, said that this was “an outstanding quarter for Rafael and a significant contribution to Israel’s security.” an improvement of tens and hundreds of percent compared to last year in most Quarter parameters with unique technological advances also towards the international markets”.
“Raphael is growing rapidly and consistently and shows significant growth in its financial results, this is due to the reputation of its systems and their operational success,” said Raphael’s CEO, Yoav Turgeman, “Also in the This quarter, we saw Rafael systems saving lives, day by day, hour by hour and the decisive contribution to combat. We were told that the Minister of Defense and the Israeli Defense Prize Committee have selected two Rafael projects to receive the Israel Defense Prize -year, so we will mention 61 Israeli Defense Awards, each one more important than the other and the honor is great. The year 2024 is a challenging year for Rafael ambitious goals for growth and development, the company has been prepared in advance for these goals, and I am confident that we will meet them with great success.”
