TEL AVIV: Israel’s largest defense firm Elbit Systems reported higher first-quarter profit on Tuesday, boosted by sales to Israel’s military during its war against Palestinian militant group Hamas in Gaza and as global defense spending rises.
Elbit said it earned $2.57 per diluted share excluding one-time items in the first quarter of 2025, up from $1.81 a year earlier.
The results were boosted by a 20 percent increase in aerospace sales, largely of precision guided munitions from which revenue rose 22 percent to $1.9 billion.
More than 32 percent of Elbit’s revenue came from Israel, where the country has been fighting Hamas since October 7, 2023. The company has supplied munitions, drones, guided rocket systems, reconnaissance capabilities and other systems.
As numerous global conflicts boosted national defense budgets, Elbit’s backlog of orders reached $23.1 billion. Some 66 percent of the backlog is from outside Israel, while 51 percent of the orders are scheduled to be fulfilled during 2025 and 2026.
“Elbit is well positioned to capture and benefit from the opportunities of increasing defense budgets globally and particularly in Europe,” said CEO Bezhalel Machlis. “We are continuing to invest in increasing our production capacity and optimizing our supply chains in order to address our backlog and the high demand for our products.”
Elbit said it would pay a quarterly dividend of 60 cents a share, the same as in the fourth quarter.
Israel’s Elbit Systems posts profit jump on Gaza war, rising defense budgets
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Israel’s Elbit Systems posts profit jump on Gaza war, rising defense budgets
- More than 32 percent of Elbit’s revenue came from Israel, where the country has been fighting Hamas
UN-sanctioned migrant smuggler killed in western Libya
- In June 2018, the UN Security Council imposed sanctions on Al-Dabbashi, along with another five Libyan traffickers
CAIRO: A notorious militia leader in Libya, sanctioned by the UN for migrant trafficking across the Mediterranean Sea, was killed on Friday in a raid by security forces in the west of the country, according to Libyan authorities.
Ahmed Oumar Al-Fitouri Al-Dabbashi, nicknamed Ammu, was killed in the western city of Sabratha when security forces raided his hideout. The raid came in response to an attack on a security outpost by Al-Dabbashi’s militia, which left six members of the security forces severely wounded, according to a statement issued by the Security Threat Enforcement Agency, a security entity affiliated with Libya’s western government.
Al-Dabbashi, who was also sanctioned by the US Treasury for trafficking, was the leader of a powerful militia, the “Brigade of the Martyr Anas Al-Dabbashi,” in Sabratha, the biggest launching point in Libya for Europe-bound African migrants.
Al-Dabbashi’s brother Saleh Al-Dabbashi, another alleged trafficker, was arrested in the same raid, added the statement.
In June 2018, the UN Security Council imposed sanctions on Al-Dabbashi, along with another five Libyan traffickers. At the time, the UN report said that there was enough evidence that Al-Dabbashi’s militia controlled departure areas for migrants, camps, safe houses and boats.
Al-Dabbashi himself exposed migrants, including children, to “fatal circumstances” on land and at sea, and of threatening peace and stability in Libya and neighboring countries, according to the same report.
Al-Dabbashi was also sanctioned by the US Treasury for the same reason.
Libya has been a main transit point for migrants fleeing war and poverty in Africa and the Middle East. The country was plunged into chaos following a NATO-backed uprising that toppled and killed longtime autocrat Muammar Qaddafi in 2011.
The country has been fragmented for years between rival administrations based in the east and the west of Libya, each backed by various armed militias and foreign governments.
