BAE Systems: H1 underlying EPS up 7%

(CercleFinance.com) - BAE Systems announces that its sales reached £13.
4bn in H1 2024, up 13% on the previous year.

Underlying EBIT was up 13% to £1.39bn, with underlying EPS of 31.4 pence, up 7% y-o-y.

FCF was £219m, a fraction of the £1,070m posted twelve months ago.

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

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, it said.

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

Underlying EPS growth forecasts have also been raised by 100 bp, from +7% to +9% (vs. from +6% to +8% previously).


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