Elbit Systems will provide the European country with intelligence systems for $ 660 million

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by Ifi Reporter Category:Hitech Jul 13, 2022

Elbit Systems reports another huge deal, in which it will provide the European country with intelligence systems for $ 660 million. The contract will be performed over a period of four years and includes a maintenance period of an additional ten years. Most of the revenue will be recognized over the four years of delivery of the orders, and some will be recognized throughout the maintenance period.
This is the fifth transaction in a chain of transactions reported by Elbit (+ 3.3% 79200) in the last month, with a combined volume of about $ 1.6 billion, and compared to its predecessors, Elbit maintains ambiguity. The three previously reported deals were made with countries in the Asia-Pacific. The details about them were more extensive - they were then systems for the protection of aircraft, laser-guided armament systems and a system for synchronization between the arms of the army during combat.
The fourth transaction, for the supply of a system for electronic warfare, was carried out in front of an international customer. This time, apparently because it's intelligence systems, the report to Connie. The latest deal in Europe that Elbit reported was a $ 21 million order for rockets for the Swedish military. Elbit has a subsidiary operating in Sweden.
It is the largest of the five deals, surpassing the $ 550 million order to supply multidimensional network warfare capabilities to the Asia-Pacific country.
In the past month, the share of Elbit added about 13.5%, while at the close of trading yesterday (Tuesday) in Tel Aviv, the company was worth NIS 34.6 billion. The company also trades on Wall Street, where it closed yesterday's trade worth $ 9.7 billion. Since the beginning of the year alone, the stock has risen about 43%, mainly since Russia's invasion of Ukraine, which has increased geopolitical tensions in the world and led to increased defense budgets. Investors, for their part, expect Elbit to take advantage of the opportunities.

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