The Israeli state defense concern Rafael published its financial report for 2023, reporting record sales in its history of 14 billion shekels, which is 21% more than in 2022.
The concern’s order portfolio reached 52 billion shekels, of which 57% came from foreign customers, and 43% from the Israeli Ministry of Defense.
Rafael ended 2023 with a net profit of NIS 588 million, an increase of 17% compared to the previous year.
The largest deal of the year for Rafael was the sale of the David’s Sling missile defense system to Finland for a total of 1.3 billion shekels.
In the past year, the concern presented the world’s first interceptor missile for supersonic missiles, Sky Sonic, and made significant progress in the development of the Shield of Light laser missile defense system.