Slide 1: Investor Conference 2025 Financial Results
Investor Conference 2025 yuuuuuddaséeé, FINANCIAL RESULETS&
Slide 2: 2024 Financial Highlights
// 2 2024 FINANCIAL HIGHLIGHTS 14% Revenues +$393M Free Cash Flow 23% Non-GAAP (*) Operating profit $6.8Bn $320M $550M $6.0Bn (2023) $(73)M (2023) $449M (2023) 31% Non-GAAP EPS (**) 370% Operating cashflow 27% Backlog $8.76 $535M $22.6Bn $6.70 (2023) $114M (2023) $17.8Bn (2023)
Slide 3: Q4 2024 Financial Highlights
// 3 Q4 2024 FINANCIAL HIGHLIGHTS 19% Revenues 42% Free Cash Flow 50% Non-GAAP (*) Operating profit $1.9Bn $404M $158M $1.6Bn (Q4 2023) $284M (Q4 2023) $105M (Q4 2023) 70% Non-GAAP EPS (**) 44% Operating cashflow 27% Backlog $2.66 $452M $22.6Bn $1.56 (Q4 2023) $314M (Q4 2023) $17.8Bn (Q4 2023)
Slide 4: 2024 Results | Revenues and New Business
// 4 2024 RESULTS | REVENUES AND NEW BUSINESS 3% BACKLOG INCREASES BOTH IN ISRAEL AND IN THE RoW 2% OTHER 22% LATAM NORTH 44% AMERICA 5,115M$ 17% ISRAEL APAC 2024 New Orders 2024 Revenues by 11,689M$ Geography 56% 6,574M$ 27% 29% REST OF THE WORLD EUROPE ISRAEL MAINTAINING BALANCE AND DIVERSE GLOBAL
Slide 5: Business Segments | Annual Revenues $M
// 5 BUSINESS SEGMENTS | ANNUAL REVENUES $M 2021 2022 2023 2024 21% 27% +9% 1,586 2,036 2,036 ESA AEROSPACE +29% 1,873 +8% 1,733 1,679 1,583 +12% 1,586 1,318 1,306 1,4931,4571,465 2024 1,179 1,169 Revenue 1,117 +11% 1,0261,046 23% Split 11% CAGR 1,679 800 800 2% 721 CAGR CAGR 678 625 9% 15% LAND C4I
Slide 6: Business Segments | Annual Operating Income GAAP
// 6 BUSINESS SEGMENTS | ANNUAL OPERATING INCOME GAAP 2022 2023 2024 11.4% 9.0% 7.8% 7.3% 7.2% 7.0% 7.3% 6.7% 6.2% 6.2% 5.1% 4.7% 3.5% 2.4% (0.3%) Aerospace C4I & Cyber ISTAR & EW Land ESA ON TRACK TO EXPAND POFIT MARGINS
Slide 7: EPS Non-GAAP 2024 Over 2023
// 7 EPS NON-GAAP 2024 OVER 2023 EPS YOY INCREASE 2.8 2.66 2024 2.6 10.00 +31% 9.00 8.76 2.4 2.21 8.00 2.2 2.08 7.00 6.70 2 6.00 1.81 1.8 5.00 1.78 4.00 1.6 1.71 1.65 2023 3.00 1.4 1.56 2.00 1.2 1.00 1 0.00 Q1 Q2 Q3 Q4 EPS 2023 EPS 2024
Slide 8: Free Cash Flow $M
// 8 FREE CASH FLOW $M 535 215 417 189 320 279 132 FCF 228 228 240 205 147 147 Purchase of PP&E 114 187 35 35 Net Cash provided by operating activities 2020 2021 2022 2023 2024 -73 FCF GENERATION IMPROVED ALONGSIDE INCREASED CAPEX INVESTMENT TO SUPPORT GROWTH
Slide 9: Book to Bill | Quarterly $M
// 9 BOOK TO BILL | QUARTERLY $M LOCAL INTERNATIONAL BOOK TO BILL 4,500 2.7 3.0 Elbit Vs. Peers 2024 B2B 4,000 4,174 US Peers Average 1.33 1.7 2.0 1.5 1.6 3,500 1.5 Elbit Systems 1.71 1.3 1.3 1.2 3,000 1.0 2,768 64% 2,658 2,704 2,500 2,378 2,433 2,103 - 1,997 47% 2,000 58% 1,263 1,746 1,594 52% 58%
Slide 10: Net Debt / EBITDA - GAAP
// 10 NET DEBT / EBITDA - GAAP 1.6 1.4 1.3 0.9 0.9 861 NET DEBT/EBITDA 702 683 685 550 592 544 486 442 476 EBITDA NET DEBT* 2020 2021 2022 2023 2024 LOW FINANCIAL LEVERAGE * Inc luding s wap der ivatives
Slide 11: Order Backlog & Revenues | Accelerated Growth $M
// 11 ORDER BACKLOG & REVENUES | ACCELERATED GROWTH $M 2020-2024 20% Backlog CAGR 10% Revenue CAGR 3.31 22,617 Backlog to Revenue Ratio 17,756 15,118 2.36 13,661 Backlog 11,024 6,828 5,511 5,975 Revenues 5,279 4,663 2020 2021 2022 2023 2024
Slide 12: Capital Allocation Framework
// 12 CAPITAL ALLOCATION FRAMEWORK INVEST IN CONSISTENTLY MAINTAIN A STRONG ORGANIC GROWTH RETURN CASH TO BALANCE SHEET SHAREHOLDERS R&D $466m in 2024 $89m dividends CAPEX distributed to NET DEBT/EBITDA $215m in 2024 shareholders in 2024 0.9X
Slide 13: Summary
// 13 SUMMARY ELBIT BOASTS A STRONG SET OF 2024 FINANCIAL RESULTS DOUBLE DIGIT REVENUE, CASHFLOW, BACKLOG AND EPS GROWTH IMPROVED PROFITABILITY SIGNIFICANT FREE CASH FLOW GENERATION
Slide 14: Reconciliation of GAAP to Non-GAAP: Supplemental Financial Data
// 14 RECONCILIATION OF GAAP TO NON-GAAP (Unaudited) SUPPLEMENTAL FINANCIAL DATA