Israel-Gaza war, European tensions yield record sales for Elbit

JERUSALEM - Israel’s Elbit Systems released its financial statements for the second quarter of 2025 on Wednesday, presenting record revenue and profit.

The public defense company brought in $1.97 billion in this year’s second quarter, for a total of $3.86 billion over the first half of the year. Its GAAP net income stood at $125.7 million for the second quarter and $233.4 million for the first six months of 2025.

The majority of Elbit’s sales were to Israel, which accounted for 34% of its revenue in the second quarter and 33.1% for the first half of the year.

Behind Israel, Europe made up 27% and 26.4% of Elbit’s second quarter and half-year totals, respectively, while North America accounted for 21.9% of sales in the second quarter and 20.6% over the first half of 2025.

Sectors that accounted for the bulk of Elbit’s revenue were land warfare, which contributed $583.1 million in the second quarter of 2025 and $1.14 billion in the first half of the year, followed by the aerospace sector, which brought in $536.8 million in the second quarter and $1.04 billion in the first half of 2025.

The company’s aerospace revenues went up primarily due to increased precision guided munition sales in Israel and the Indo-Pacific, as well as UAS sales in Europe, the company announced.

Elbit’s C4I and cyber revenues, meanwhile, increased due to radio systems and command and control systems sales across Israel and Europe; ISTAR and EW revenues surged via electro-optic systems sales in Israel and electronic warfare systems sales in Europe; and land-based earnings spiked due to increased ammunition sales.

Elbit Systems of America revenue also increased after a surge in sales around maritime and warfighters systems.

The company’s order backlog as of June 30, 2025 totaled $23.8 billion. Approximately 68% of that is attributable to orders outside of Israel.

Elbit states that about 46% of its orders are scheduled to be performed during the remainder of 2025 and 2026.

Its financial statements were published shortly after the company announced a deal to sell a variety of defense systems to an undisclosed European country for approximately $1.65 billion.

The total marks the second highest deal in the company’s history after its $1.7 billion contract with the Greek air force to upgrade the service’s flight school.

The latest deal with the yet-to-be-named European country is expected to last for a period of five years. The Israeli company stated in its announcement that it will be supply attack and intelligence systems as part of the contract.

“The first group includes long-range precision strike artillery-rocket systems and a broad-spectrum of unmanned reconnaissance and loitering aerial combat systems, from operational to tactical ranges, including personally operated drones,” the release stated.

“The second group includes ISTAR capabilities, including SIGINT, COMINT and electronic warfare systems. Enabled intelligence collection and processing systems will also be delivered, along with advanced electro-optical and night-vision systems, combat vehicle upgrade and protective systems.”

Elbit officials also stated that the company will pursue delivery of “comprehensive military digitalization” and network combat solutions, including intelligence solutions from the C4ISR suite.

Tzally Greenberg is the Israel correspondent for Defense News. He has experience reporting on economic affairs as well as defense and cyber companies.

耶路撒冷——以色列埃尔比特系统公司周三发布了2025年第二季度的财务报表，显示其收入和利润均创历史新高。

这家公共国防公司今年第二季度收入为19.7亿美元，上半年总收入为38.6亿美元。其2025年第二季度GAAP净利润为1.257亿美元，2025年上半年GAAP净利润为2.334亿美元。

Elbit 的大部分销售额来自以色列，以色列市场占其第二季度收入的 34%，占上半年收入的 33.1%。

在以色列之后，欧洲分别占埃尔比特第二季度和上半年总销售额的 27% 和 26.4%，而北美在第二季度占销售额的 21.9%，在 2025 年上半年占销售额的 20.6%。

埃尔比特公司收入的主要来源是陆地战争领域，该领域在 2025 年第二季度贡献了 5.831 亿美元收入，在上半年贡献了 11.4 亿美元收入；其次是航空航天领域，该领域在第二季度带来了 5.368 亿美元的收入，在 2025 年上半年带来了 10.4 亿美元的收入。

该公司宣布，其航空航天收入增长主要得益于以色列和印太地区精确制导武器销售额的增长，以及欧洲无人机系统销售额的增长。

与此同时，由于以色列和欧洲的无线电系统和指挥控制系统销售，Elbit 的 C4I 和网络收入有所增长；由于以色列的光电系统销售和欧洲的电子战系统销售，ISTAR 和 EW 收入大幅增长；由于弹药销售增加，陆基业务收入也大幅增长。

由于海事和作战系统方面的销售额激增，美国埃尔比特系统公司的收入也有所增长。

截至2025年6月30日，该公司订单积压总额为238亿美元。其中约68%的订单来自以色列以外的地区。

Elbit公司表示，其约46%的订单计划在2025年剩余时间和2026年期间执行。

该公司宣布与一个未公开的欧洲国家达成协议，以约 16.5 亿美元的价格出售各种国防系统，随后不久便公布了其财务报表。

该交易总额是该公司历史上第二大单，仅次于其与希腊空军签订的价值 17 亿美元的合同，该合同用于升级希腊空军的飞行学校。

与这个尚未公布名称的欧洲国家达成的最新协议预计将持续五年。这家以色列公司在公告中表示，根据合同，它将提供攻击和情报系统。

新闻稿称：“第一组包括远程精确打击火炮火箭系统和各种无人侦察和巡飞空中作战系统，涵盖作战和战术范围，包括个人操作的无人机。”

“第二组包括情报、监视、目标获取和侦察（ISTAR）能力，包括信号情报（SIGINT）、通信情报（COMINT）和电子战系统。还将交付已启用的情报收集和处理系统，以及先进的光电和夜视系统、作战车辆升级和防护系统。”

Elbit 的官员还表示，该公司将致力于提供“全面的军事数字化”和网络作战解决方案，包括来自 C4ISR 套件的情报解决方案。

扎利·格林伯格是《防务新闻》的以色列记者。他拥有丰富的经济事务以及国防和网络安全公司报道经验。