Record-Breaking Profits for Rafael in 2009
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."