Record-Breaking Profits for Rafael in 2009

Thursday, March 18, 2010
VADM (Ret.) Yedidia Yaari (Photo courtesy Rafael Advanced Defense Systems Ltd.)

Rafael develops and manufactures advanced defense systems for the Israel Defense Forces and armed forces around the world, operating from a strong financial foundation resulting from exports to international markets. Rafael is the largest employer in Northern Israel, with more than 6,000 employees, contractors and service suppliers. 

2009 produced a record-breaking year for Rafael, earning net profits of $112 million, mainly attributed to worldwide exports. Financing revenue—including interest, currency securities, conversion and management of investment portfolios—accounts for approximately one-third of the company’s net profit. 

At the end of 2009, Rafael posted an order backlog of $3.5 billion, constituting about two years’ operations. Approximately 76% of the order backlog is intended for export to a variety of countries, especially in Europe, Latin America, and the Far East, as well as to the United States. 

In 2009 Rafael continued to supply customers in Israel and abroad with solutions, both on a system-wide scale and for specific needs, while continuing to advance and expand international markets by cooperative agreements and subsidiary activities, developing the company’s human resources and performing investment in R&D.

In 2009 Rafael completed the development of the Iron Dome mobile anti-missile defense system, designed to intercept short-range rockets. As such, Rafael marked another substantial achievement in meeting its responsibilities and its commitment to being a major building block in Israel's national security effort.

VADM (Ret.) Yedidia Yaari, CEO of Rafael, said that Rafael ends 2009 with very good financial results which are the economic outcome of massive investments in R&D, manufacturing capabilities, and effective business and marketing activities. "In 2009, Rafael continued to successfully adapt itself to its customers’ operational requirements and provide customers with the relevant solutions, both on a system-wide and on a specific scale, while adhering to budgetary and scheduling conditions.  Rafael's exceptional capabilities are a result of years of development efforts by outstanding people and by a culture of striving-without-compromise to meet the company’s commitment to customers in Israel and abroad."

Maj. Gen. (Ret.) Ilan Biran, Chairman of the Board at Rafael, said that the company’s wide array of capabilities and products are the fruit of the dedication and brainpower of the company’s employees. "Their ongoing efforts have led to the technological breakthroughs that have enabled Rafael’s continuing achievements, evidenced by this year’s commendable financial results", said Biran. Biran also noted that Rafael strives to combine its success and its vision - that is, to be the national laboratory in contributing to the security of the State of Israel, and at the same time to be a growing global company, developing and manufacturing defense systems at the forefront of operational requirements and on the cutting edge of technology. 

"The large order backlog and robust finances enable Rafael to continue investing extensive resources in research and development, as well as advancing the potential of the company’s human resources. Together, these constitute a stable foundation for the expansion and development, necessary to respond to the global changes occurring worldwide in the demand for security solutions." 

  • Maj. Gen. (Ret.) Ilan Biran (Photo courtesy Rafael Advanced Defense Systems Ltd.)

    Maj. Gen. (Ret.) Ilan Biran (Photo courtesy Rafael Advanced Defense Systems Ltd.)

Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Kurdistan Says Crude Cargo Near Texas Legally Sold

A $100 million cargo of crude oil in a tanker near Texas was legally shipped and sold by Kurdistan, lawyers for the autonomous region in Iraq told a U.S. court in a letter seen on Thursday,

Kirby Reports Record Q2 2014

Record 2014 second quarter earnings per share of $1.31 compared with $1.11 in the 2013 second quarter, which included a $0.07 benefit due to the reduction of the United earnout liability.

UK Oil Imports Exceed Exports for First Time in 30 Years

Britain imported more oil products than it exported last year for the first time in 30 years, an official report shows, and analysts say the country is likely to

 
 
Maritime Security Maritime Standards Offshore Oil Pipelines Port Authority Salvage Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2024 sec (5 req/sec)