Israel Aerospace Industries (IAI) has published its full year 2023 results, highlighting a 49% increase in net income ($318 million) – the highest ever in company history. Elevated sales of $5,327 million also set a new record for the company.
Despite the conflict ongoing in the area, Boaz Levy, CEO of IAI described a “year of significant and varied activities” across both military and commercial areas, with an overall gross profit for 2023 rising $143 million to $967. The company reported a 19% growth in EBITDA as well as a similar increase in operating income.
Sales in IAI’s aviation group decreased 1.2% in 2023 to $1,387 million compared to $1,404 million in 2022. The net income of the aviation group amounted to $40 million, compared with $45 million the previous year. Gross profit decreased to about $126 million (around 9% of total sales).
IAI civilian sales down amid record highest grossing year
