BAE announces their preliminary 2021 results
BAE Systems PLC (BAE) announced their preliminary 2021 results on February 24, 2022. The company's Chief Executive stated that their strong results reflect their diverse portfolio, focus on program execution, cash generation and efficiencies helped them to navigate the challenging operating environment. Specifically, their financial performance measures as defined by the company includes, sales increased 5.0% and earnings before interest and taxes increased 13.0% in 2021 compared with 2020. Additionally, net debt and order backlog decreased while order intake increased.
ESG|Discontinued ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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