Revenue grows at BAE Systems
BAE Systems has reported increased sales and revenue through 2020, with a healthy order book boosted by a £1.2bn request for 38 Typhoon aircraft by the German Air Force.
Revenue for the year totalled £19.28bn, up from £18.31bn in 2019. Total sales grew to £20.86bn, up from £20.11bn. Operating profit was £1.9bn, with an order book of £36.3bn.
In addition to the production order from the German Air Force, which will create work for BAE's two Lancashire sites, the PHASA-35 solar-electric powered unmanned aircraft successfully completed its maiden flight and the company completed the production of 126 F-35 rear fuselage assembles, with more set for 2021.
Charles Woodburn, chief executive, BAE Systems, said: “Thanks to the outstanding efforts of our employees and close cooperation with our customers, suppliers and trades unions, we have delivered a strong set of results against a challenging backdrop of the global pandemic. Throughout 2020, we focused on keeping our people safe and supporting our communities, whilst continuing to deliver for our customers.
“In 2021, we will continue to drive operational performance, progress our sustainability agenda and invest in high-end discriminating technologies to meet our customers’ priorities, which will ensure we are well positioned to grow the business and contribute to the economic prosperity of the countries in which we operate.”
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