Rafael: in 2021 sales amounted to almost NIS 10 billion and net profit to NIS 431 million


by Ifi Reporter Category:Financial Mar 30, 2022

Rafael announces its financial results for 2021, as approved at the company's board meeting, with sales of NIS 9.931 billion ($ 3.075 billion) and a net profit of NIS 431 million. For the first time, the company consolidated the reports of its subsidiaries Aeronatics and Controp.
At the end of the 2021 work year, Rafael CEO Yoav Har-Even said: "2021 was a very successful year in all areas of the company's operations, which were also reflected in the impressive financial results despite objective challenging parameters, such as the continued effects of the corona plague on the economy. Global, the global supply chain crisis, the erosion of the exchange rate and other factors that have affected our operations and economic data. Continued investment in reclamation, conservation and recruitment, investment in research and development along with proper preparation for marketing and operational issues, have helped us realize the national and international goals and challenges we face, and will certainly help us face expected challenges following the current political-security events. But most of all, Rafael is a key anchor in the national security of the State of Israel, with a significant contribution to the economy, society and employment, especially in the north of the country. "
Last week, Rafael received an order from the Ministry of Defense to develop the production and supply of the "Shield-Light" system - a powerful laser system for intercepting aerial threats that will be a complementary capability to the "Iron Dome". The development of the system is a technological breakthrough at the world level and will join other Raphael systems with the only technology of its kind in the world, such as the Iron Dome, the David Sling, the Windbreaker and more. In addition, Raphael won three Israeli Security Awards this year.
During the past year, Rafael continued to be a significant factor in employment, society and the economy, especially in the northern region - and even inaugurated a new production branch in the city of Shlomi, along with doubling its activity in the Tel Aviv, Jerusalem and Beer-Sheva branches. Raphael, like the entire economy, experienced significant challenges in the field of manpower retention this year, but at the same time a record year was set in recruitment - Raphael recruited about 1,000 new employees this year - an all-time record. Rafael is the largest industrial employer in the north of the country, with about 8,000 employees directly and another 20,000 households indirectly and an annual purchase of more than NIS 4 billion from external subcontractors, mainly in the north of the country. Since becoming a business company, Rafael has transferred over NIS 2 billion in dividends to the state.
Approximately 9.3% of the company's total sales are allocated to investment in research and development. The investment also includes joint activities with academic institutions in Israel and around the world and is involved in various civic activities, including collaborations with startups and innovation centers.



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