BAE SYSTEMS PLC S/ADR - BAESY STOCK NEWS

BAE Systems plc reported its Half-yearly Report for 2022, showcasing sales of £10,581m and revenue of £9,739m, marking increases of 2.8% and 4.3% respectively. The underlying EBIT rose to £1,112m, a 4.4% growth, while the basic earnings per share decreased to 19.6p. The order backlog stands at £52.7bn, with a strong order intake of £17,985m. An interim dividend of 10.4p per share was declared, alongside a new £1.5bn share buyback program.

The U.S. Army has awarded BAE Systems a five-year contract extension valued at up to $1.3 billion for operations at the Radford Army Ammunition Plant. This extension, effective through December 31, 2026, reinforces the partnership between BAE Systems and the Army in producing critical munitions for the U.S. Department of Defense. The contract encompasses management, maintenance, and modernization of the plant, where BAE Systems has been operational since 2012, demonstrating its commitment to safety and quality.

BAE Systems and GE announced a technical collaboration focused on next-generation adaptive power management systems for Combat Air technologies. This collaboration builds upon their existing relationship within the Tempest program. GE is providing electrical power demonstration equipment to BAE Systems to investigate the use of solid-state power controllers, which enhance operational capabilities in combat aircraft. GE has been a major supplier to BAE Systems for the Typhoon program since 2004.

The U.S. Army has awarded BAE Systems a $699 million, five-year contract to manage operations at the Defense Supercomputing Resource Center (DSRC), supporting high-performance computing (HPC) users. This contract enhances the DoD's supercomputing capabilities, providing advanced technology for research and development. BAE Systems will also support various DSRC locations, including those in Mississippi, Ohio, and Maryland. This award highlights BAE's expertise in systems integration and technology solutions for military applications.

BAE Systems has successfully delivered advanced M-Code GPS receivers to Germany through the Foreign Military Sales process. The Miniature Precision Lightweight GPS Receiver Engine – M-Code (MPE-M) enhances geolocation and positioning for military applications. This marks Germany as the first recipient of M-Code GPS capabilities, which aims to improve positioning and timing in contested environments. BAE Systems produces these receivers in Cedar Rapids, Iowa, where they are also developing a modern production facility. This delivery underscores the commitment to provide allies with reliable navigation solutions.

The Bright Initiative hosted a significant meeting in London on June 28, 2022, gathering senior data leaders and experts to address the issue of violence against women and girls. The event, on behalf of Women in Data, aimed to utilize data for preventative interventions and improve cross-agency data sharing. Attendees included CDOs from various UK government departments and businesses like Microsoft and IBM. The collaboration will culminate in a report to be presented at the Women in Data Annual Conference on March 9, 2023.

BAE Systems successfully tested its Robotic Technology Demonstrator (RTD), which fired laser-guided rockets at ground targets during the U.S. Army's EDGE 22 exercise. This was the first time APKWS rockets were fired from a robotic combat vehicle. The RTD features a hybrid electric drive and can carry various advanced payloads, including electronic warfare sensors and loitering munitions. BAE Systems aims to enhance the Army's capabilities with this technology, supporting multiple missions in modern warfare.

BAE Systems' Robotic Technology Demonstrator (RTD) successfully fired laser-guided rockets at the EDGE 22 exercise, marking the first instance of an APKWS rocket launched from a robotic combat vehicle. This autonomous RTD showcases versatility with a hybrid electric drive and advanced payloads, meeting U.S. Army requirements for medium RCV solutions. The APKWS rockets enable mounted units to strike targets effectively within a six-kilometer range, enhancing battlefield capabilities. BAE Systems continues to focus on modernizing defense technologies through its Future Tech Works organization.

Slovakia has chosen the CV90MkIV as its new Infantry Fighting Vehicle (IFV), submitted by a joint bid from the Government of Sweden and BAE Systems. This decision follows a feasibility report and positions the CV90 in the top two for the IFV program. The Slovak Army will acquire advanced variants, including various turreted models, while local industry collaboration is emphasized for production. This selection strengthens defense relationships and includes a commitment to local content. Negotiations for a production contract are set to finalize by year-end.