BAE Systems said the record volume of order backlog is high as revenues grow 14%.
The largest defense company in the UK BAE system Its order backlog rose 11% at the end of 2024, reaching record highs Report Annual revenue increased by 14% in 2024.
Operating profit rose 4% during this period to £2.69 billion (US$3.39 billion).
“Based on the outstanding visibility of our record order backlog and the sustainability of our value-based business model, we are confident in the positive momentum of our business in the future,” CEO Charles Woodburn said in a statement. ”
BAE Systems and Other European Defense Corporations Share earnings were released this week Expectations on higher government spending.
BAE system.
Matt Dorset, an equity analyst at Quilter Cheviot, said in a comment in an email that the results exceeded comprehensive consensus expectations, including earnings per share, organic sales and basic earnings.
“We continue to see structural backlash supporting BAE driven by increased global defense spending,” Dorset said.
“Not only will a larger defense budget drive demand, but Europe may also focus on strengthening its own defense production capacity rather than relying on U.S. exports.”
“Bae Systems is a pure British defence company with a lot of demand in Europe and can take advantage of this well.”
– Jenni Reid
UK inflation jumped to expected 3% in January
January’s annual inflation rose to 3% in January, higher than analysts’ expectations, according to data released by the National Bureau of Statistics on Wednesday.
Reuters surveyed economists and is expected to read 2.8%.
– Holly Ellyatt
Philips CEO says Chinese consumer recovery is a story that was “not at the time”
Philips CEO Roy Jakobs said Wednesday that the recovery of Chinese consumer demand was a story that was “not at the time” after the healthcare tech giant reported a double-digit decline in Chinese sales.
“We believe (China’s demand) will come back, and it’s attractive in the long run, but we’re just not sure when it will happen and when it will reach that inflection point.”Squawk Box Europe.“
Jacob said the importance of healthcare to the country’s aging population means people will start building demand and he expects North America’s strength to continue.
Regarding corporate risks of tariff threats by U.S. President Donald Trump, Jakobs said Philips has reduced its exports from China to the U.S. and included in its current guidance Influence.
He added that the “uncertainty of tariffs” is why the company offers extensively adjusted earnings ahead of its 30-80 basis points interest, tax, depreciation and amortization (EBITDA) profit outlook for 2025.
Philips reported that sales growth in the fourth quarter and full year on Wednesday could be comparable to sales growth by 1%. Its net loss will expand from €463 million (€463 million) to €698 million (US$729 million) a year, and its annual performance declines from €38 million in profits to €333 million in losses. The weaker annual losses are partly due to nearly €1 billion in providing Settling in a long-running U.S. case on its respiratory device.
Jacobs said 2024 was a “critical” year for Philips, which lowered responsibility and improved fundamentals, including expansion of margins and strong cash generation.
– Jenni Reid
Philips’ sales are slightly higher, but missed expectations due to China’s weakness
Dutch Medical Technology Group Philips Wednesday Report Sales grew 1% in the fourth quarter and 1% in full year 2024 as North America’s strength was offset by a double-digit decline in China.
According to Reuters, the quarterly quantity was lower than market expectations.
Sales in its diagnostic and treatment and personal health sectors saw sales decline, with its connected care business up 7%.
The company said its outlook was 1%-3% comparable sales growth in 2025, with the median digit decline in China.
Philips shares the price.
European stocks outperform their U.S. stocks, but how long?
European Market: The following is the opening call
European markets are expected to open on Wednesday.
UK FTSE 100 The index is expected to drop by 5 points at 8,763 points in Germany. Dax 9 points up 22,868 points in France CAC 12 points fell in 8,209 and Italy FTSE MIB According to IG data, it was 58 points higher at 38,686.
Income from BAE system,,,,, Glencore,,,,, Red River,,,,, Royal Philips and Carrefour.
The data released on Wednesday includes the latest UK inflation data. Reuters predicted the UK’s consumer price index to rise to 2.8% in January, up from 2.5% last month, Reuters said.
– Holly Ellyatt
