BAE Systems Says Opportunities Pipeline Strong, Backs 2021 Guidance
November 08 2021 - 2:52AM
Dow Jones News
By Anthony O. Goriainoff
BAE Systems PLC said on Monday that its opportunities pipeline
was strong and backed its guidance for the year.
The London-listed defense company said that it has mitigated and
managed supply chain pressures and had thus far avoided any
material impacts on its performance.
It added that its portfolio was well positioned to benefit from
increased spending in defense in Asia Pacific through its Australia
business, and that the recent AUKUS announcement was strategically
significant for the company.
AUKUS refers to the trilateral security pact between the U.S.,
Australia and the U.K.
In July the company said it expected group sales to grow in the
3% to 5% range over 2021, based on a strong pound-to-dollar
exchange rate. The company reported sales of 20.86 billion pounds
($28.15 billion)in 2020. The company said it expects underlying
earnings before interest and taxes--a metric which strips out
exceptional and other one-off items--to grow in the 6% to 8% range.
For 2020 BAE reported underlying Ebit of GBP2.04 billion.
"Demand for our capabilities remains high and we have a strong
pipeline of opportunities across our broad geographic portfolio,"
Chief Executive Charles Woodburn said.
Write to Anthony O. Goriainoff at
anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
November 08, 2021 02:37 ET (07:37 GMT)
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