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BAE SYSTEMS (LSE: BA).

Head Office

Stirling Square, 6 Carlton Gardens, London, SW1Y 5AD United Kingdom

Tel: +44 (0) 1252 373232

Website

www.baesystems.com

The Company

BAE Systems is a global defence, aerospace and security company employing around 88,200 people worldwide in Australia, India, Saudi Arabia, UK and USA. Products and services cover air, land and naval forces, as well as advanced electronics, security, information technology, and support services. Defence product areas are:

Advanced Materials

Amphibious

Artillery

Avionics

Combat Aircraft

Combat Vehicles

Commercial Aircraft

Communications Intelligence

Communications

Critical Infrastructure

21 February 2019

Preliminary Announcement 2018

Financial highlights

Financial performance measures as defined by the Group1

--Order intake increased by [pounds sterling]8.0bn to [pounds sterling]28.3bn.

--Order backlog increased by [pounds sterling]9.7bn to [pounds sterling]48.4bn following this year's record order intake.

--Sales decreased [pounds sterling]0.1bn to [pounds sterling]18.4bn with the expected reduction in Typhoon production activity being largely offset by growth in our US businesses.

--Underlying EBITA decreased by [pounds sterling]46m to [pounds sterling]1,928m. There was an adverse exchange translation impact of [pounds sterling]34m.

--Underlying earnings per share increased by 2% to 42.9p.

--Operating business cash flow decreased by [pounds sterling]759m to [pounds sterling]993m.

--Net debt increased by [pounds sterling]152m compared with 31 December 2017.

Financial performance measures defined in IFRS2

--Revenue decreased by [pounds sterling]0.4bn to [pounds sterling]16.8bn, a 1% decline on a constant currency basis5 .

--Operating profit increased by [pounds sterling]186m to [pounds sterling]1,605m. There was an adverse exchange translation impact of [pounds sterling]31m.

--Basic earnings per share increased to 31.3p.

--Net cash flow from operating activities decreased by [pounds sterling]697m to [pounds sterling]1,200m.

Other financial highlights

--Group's share of the pre-tax accounting net pension deficit reduced by [pounds sterling]0.1bn compared with 31 December 2017 to [pounds sterling]3.9bn.

--Final dividend of 13.2p per share making a total of 22.2p per share for the year, an increase of 2% over 2017.

https://investors.baesystems.com/~/media/Files/B/Bae-Systems-Investor-Relations-V3/PDFs/results-and-reports/results/2019/2018-pre-result-statement.pdf

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Title Annotation:Leading Companies in the Industry
Publication:United Kingdom Armaments
Geographic Code:4EUUK
Date:Jul 24, 2019
Words:360
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