Elbit presents record results: 13% increase in revenue last year and crossed the $ 5 billion a year mark

Elbit presents record results for 2021. The company recorded a 13% increase in revenue last year and crossed the $ 5 billion a year mark for the first time, to $ 5.28 billion. Elbit posted a gross profit of $ 1.4 billion, an increase of 17%, and a net profit of $ 274.4 million, an increase of 16%, and a new record for the company.
The reports also show that the company's backlog increased by 24% to $ 13.7 billion and that Kielbit recorded a positive cash flow of $ 417 million, partly due to the closure of debts by the Ministry of Defense following the approval of the state budget.
Elbit also recorded a 40% increase in revenues from civilian areas to $ 193 million, mainly medical equipment and systems for civilian aircraft, but still relatively small from its operations.
In the fourth quarter, Elbit recorded revenue of $ 1.49 billion, operating profit of $ 107.3 million and a net profit of only $ 8.2 million, following a jump in the company's tax expenses, from $ 1.9 million in the corresponding quarter last year to $ 92.2 million this year, following tax on Confined spaces.
Elbit states in the report that the jump in its share price will have a significant effect on the company's expenses for the employees' compensation plans. Elbit's CFO, Yossi Gasper, said that Not only senior executives but also middle-ranking officials. We will reflect the expenditure every quarter and in any case it will be spread over three to five years. "The jump in the share price has done good for our ability to retain employees and prevent departures. We have recruited hundreds of employees in the last year, and I estimate that we will recruit 1,800 new employees this year. "It should be noted that Elbit currently has 19.5 thousand employees in Israel and around the world.