BAE Systems: underlying EPS up 7% in H1

(CercleFinance.com) - BAE Systems announces that its sales reached £13.
4 billion in the 1st half of 2024, up 13% on the previous year.

Underlying EBIT was up 13% to £1.39 billion, with underlying EPS of 31.4 pence, up 7% on the same period a year earlier.

FCF was £219 million, compared with £1,070 million twelve months ago.

Finally, BAE Systems booked £15.1 bn of orders in H1, bringing the order book to a total of £74.1 bn.

'Thanks to the exceptional efforts of our people around the world, we have delivered a solid operational and financial performance in the first half of the year, enabling us to increase our year-end guidance on all our key indicators', says CEO Charles Woodburn.

Thus, sales forecasts have been revised upwards by 200 bp, expected to be between +12% and +14% (vs. from +10% to +12% previously), and underlying EBIT forecasts have been revised upwards by 100 bp, from +12% to +14% (vs. from +11% to +13% previously)

Underlying earnings per share forecasts have also been revised upwards by 100 bp, from +7% to +9% (vs. from +6% to +8% previously).


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