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Sunday, June 16, 2024

BAE Systems announces half-year results report 2017

Commenting on the results, Charles Woodburn, Chief Executive, BAE Systems said: “BAE Systems’ performance in the first half was consistent with our expectations and guidance for the year. We have a sound platform for medium-term growth underpinned by a clear and consistent strategy. Strong programme execution, technology and enhanced competitive positions will be key in driving the business forward, and we will continue to focus on efficiency and meeting our customers’ affordability challenges. With the expected improvement in the defence budget outlook in a number of our markets, the Group is well placed to continue to generate good returns for shareholders.”

BAE Systems Military Air and Information highlights

BAE Systems Military Air & Information employs around 13,000 people across more than 30 locations, including Warton and Samlesbury in the North West of England, Brough, RAF Coningsby and RAF Marham in the East of England, and Christchurch, Frimley and Yeovil across the South of England.

Highlights for the first half of 2017:

  • Good progress has been made on the construction of engineering and training facilities at RAF Marham in Norfolk, following a £32.6m contract to support the arrival of the UK’s first F-35 Lightning II aircraft in 2018.
  • A further £146.6m order intake has been received for the delivery of 94 aircraft sets to Lockheed Martin.
  • Delivery of the first two of 12 Typhoon to the Royal Air Force of Oman at a ceremony held at Adam Air Base, Oman. Two Hawk aircraft have completed manufacture in readiness for acceptance by the Omani Royal Air Force.
  • Typhoon’s capabilities continue to be enhanced with a further series of flight trials to mature the delivery of the Storm Shadow and Meteor weapons systems enhancements.
  • £48m worth of order intake was received relating to the support of the global Hawk fleet, £15m of which is from the Ministry of Defence in support of the UK Hawk Advanced Jet Trainer fleet.  An additional £7m for the provision of Officer and Aircrew Training in the Kingdom of Saudi Arabia.
  • First flight of Advanced Hawk demonstrator, a concept of a future variant of the successful jet training aircraft equipped with new pilot display and redesigned wing.
  • Within Defence Information, we have received £3.5m to enhance the capability of Falcon, our secure broadband for the battlespace, for the UK Army and Royal Air Force.
  • A new £2.3m state of the art Training and Simulation Integration Facility was opened at Warton providing an immersive environment for pilots, customers and engineers to analyse evaluate and experiment with the next generation of military aircraft cockpits and future training solutions.
  • Continued to support to the readiness of HMS Queen Elizabeth Class for flight trials in 2018 through the integration trials of the 35B Lightning II, within a new £2m simulation facility in Warton.
  • A contract extension for the Anglo-French unmanned combat air system feasibility phase for £16m was received in January.
  • An agreement in principal was reached for a £119m contract for collaboration on the first design and development phase of an indigenous fifth-generation fighter jet for Turkish Air Force.

Chris Boardman, Managing Director, BAE Systems Military Air & Information said: “We have made good progress on our key programmes in the first half of 2017 with Typhoon deliveries for our UK and export customers as well as production rates on F-35.

“We have continued to support operational commitments for our Typhoon and Tornado customers and have mobilised our long term partnership with the Ministry of Defence to support the UK Typhoon fleet, helping them to safeguard our borders.

“Our work to support the integration of the F35B aircraft with the new Queen Elizabeth Class aircraft carriers is an important step in delivering carrier strike capability to the Royal Navy and we are  proud of the unique role we play on this programme of national importance.”



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