Rafael Advanced Defense Systems reported record earnings in 2024 with a 64% surge in its net profit for 2024, the state-owned defense contractor announced on Wednesday.
The Haifa-based Rafael said it reached NIS 17.8 billion ($4.84 billion) in sales, a growth of 27% from the previous year.
“Rafael’s advanced systems, such as ‘Iron Dome,’ ‘David’s Sling,’ and ‘Windbreaker,’ saved thousands of lives and at the same time made it possible to conduct a war routine and provided breathing space for maneuvering forces,” said Rafael Chairman, Dr. Yuval Steinitz. “At the same time, this year we also continued the development of Rafael’s laser system, which is the only one of its kind in the world.”
Sales increased by 27%, reaching a total of NIS 17.8 billion ($4.84 billion) , compared to NIS 14 billion ($3.82 billion) in 2023. Rafael also saw a 64% surge in its net profit, which climbed to NIS 950 million ($259 million).