Ankündigung • Jun 29
BAE Systems plc Appoints Derek Kilmer to its Board of Directors BAE Systems Inc. announced that the Honorable Derek Kilmer has been appointed to its Board of Directors. Kilmer currently serves as the senior vice president of U.S. Program and Policy for The Rockefeller Foundation, where he leads the Foundation's new economic opportunity agenda - helping communities navigate economic and technological disruption, connect more people to good jobs, and shape economic opportunity. He also leads the Foundation's global and domestic policy teams, engaging leaders, civil society, businesses, and institutions to advance the Foundation's mission. Before joining The Rockefeller Foundation, Kilmer represented Washington's Sixth Congressional District for six terms in the U.S. House of Representatives. During his tenure, he served as Chairman of the Select Committee on the Modernization of Congress and as a member of the Appropriations, Armed Services and Science, Space Technology committees. Prior to his congressional service, Kilmer served as state senator in the Washington State Senate and a state representative in the Washington State House of Representatives. He also dedicated his efforts to a nonprofit organization focused on regional economic development, and as a consultant for McKinsey Company, where he advised global organizations on critical business operations. Kilmer earned a bachelor's degree from Princeton University and holds a doctorate from the University of Oxford. Ankündigung • Jun 26
BAE Systems' Endura processor demonstrates strategic radiation-hardened capability for space missions BAE Systems has successfully demonstrated the ability of its Endura™ system-on-chip (Soc) space processor to operate resiliently in natural space and the most severe strategic radiation environments. The Endura SoC was developed with BAE Systems' commercial radiation-hardened 45 nanometer (RH45 nm) technology, built on GlobalFoundries' (GF) commercial, 45nm silicon-on-insulator platform with secure manufacturing through GF's New York fab. RH45® technology brings a qualified library of advanced, commercially licensed capabilities and proven application-specific integrated circuit (ASIC) design and manufacturing methods. The strategic radiation-hardened testing further demonstrates that this technology can increase survivability of other space system elements, including single board computers (SBC). The SoC is being integrated into BAE Systems' next-generation Endura product line, which will include general purpose processing, networking, secure boot and other functionality. Endura products provide a powerful processor core with integrated Level 1 and 2 caching. They also include advanced FPGA components enabling mission specific acceleration and hardware accelerated input/output to deliver exponential improvements in size, speed, power and processing efficiency. As a platform-agnostic supplier, BAE Systems develops and produces high-reliability space electronics, from standard components and SBCs to complete system payloads. The company will continue to provide products for High Reliability Class A missions as well as Class C/D lower mission assurance requirements with associated price points. BAE Systems is currently accepting orders with rapid delivery for Software Development Units featuring the Endura SoC. Work is performed by the company's Space Systems group in Manassas, Virginia. This facility is a U.S. Department of War Category 1A Microelectronics Trusted Source, covering design, aggregation, broker, packaging, assembly, and test services. Board Change • May 20
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 8 experienced directors. 3 highly experienced directors. 3 independent directors (9 non-independent directors). Independent Non-Executive Director Jane Griffiths was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Ankündigung • May 09
BAE Systems plc Maintains Earnings Guidance for the Year 2026 BAE Systems plc maintained earnings guidance for the year 2026. Full-year guidance remains unchanged from the preliminary results announcement published on 18 February 2026. Sales in the range of +7% to +9% (2025: £30.7 billion). Ankündigung • Apr 29
BAE Systems Enters Production and Begins Initial Deliveries of NavGuide GPS Receiver BAE Systems had entered production and begun initial deliveries of its NavGuide GPS receiver. This portable, field-installable M-Code GPS receiver provides secure positioning, navigation, and timing (PNT) for vehicle, handheld, and sensor applications. NavGuide is the drop-in M-Code upgrade to BAE Systems' proven predecessor, the Defense Advanced GPS Receiver (DAGR), which has concluded production after more than 20 years in the field. NavGuide is backwards compatible with existing DAGR installations and is designed for rapid integration into existing DAGR mounts and accessories without mission interruption. It is available to all U.S. armed forces and to allies via foreign military sales. NavGuide leverages the advanced M-Code GPS signal to improve protection against modern jamming and spoofing threats, while delivering dependable PNT in the harshest environments. The compact, lightweight receiver features an intuitive, full-color user interface with waypoint navigation and a moving-map display for enhanced situational awareness. More than 650,000 DAGR units have been deployed across the globe since 2004. NavGuide builds on that legacy by providing customers with the same form, fit, and function, while adding enhanced M-Code security and performance. BAE Systems has integrated NavGuide on over 30 existing vehicle platforms with an average installation time of under two minutes, with no changes required to existing cables, mounts, or vehicle software. This approach enables vehicles to immediately take advantage of M-Code's improved resiliency against modern threats without a lengthy platform integration. The company will continue to provide support for all legacy DAGR units. BAE Systems has delivered selective-availability anti-spoofing modules to more than 45 countries and has begun fielding M-Code GPS receivers in various form factors and capability levels for U.S. armed forces and allied nations. Work on BAE Systems' military GPS products is conducted at the company's modern engineering and manufacturing facility in Cedar Rapids, Iowa. Ankündigung • Apr 02
BAE Systems plc announced that it has received $88.262592 million in funding On April 2, 2026, BAE Systems plc closed the transaction. The transaction included participation from 296 investors. Ankündigung • Mar 03
BAE Systems Introduces Silver Link™ Conformal Antenna Aperture Solutions BAE Systems has introduced Silver Link™, a new line of modular, adaptable antenna solutions to support air dominance programs and deliver airborne-assured communications. The new Silver Link™ portfolio of conformal antennas is designed to meet customer cost requirements and is built to rapidly advance from prototype design to full fleet integration. Silver Link™ solutions build on more than three decades of conformal antenna design and production by BAE Systems to meet the needs of the next generation of air dominance defense programs. Designed to integrate seamlessly with any host platform, Silver Link™ antennas conform to platform curvatures to preserve aerodynamic and structural integrity. The Silver Link™ antenna line caters to expedited customer schedules and cost parameters, eliminating the need for lengthy and expensive custom design and prototyping processes. Silver Link™ solutions deliver high performance, cost-effective operations with low maintenance requirements for customers. Ankündigung • Feb 13
BAE Systems plc to Report First Half, 2026 Results on Jul 30, 2026 BAE Systems plc announced that they will report first half, 2026 results on Jul 30, 2026 Ankündigung • Feb 12
BAE Systems, Inc. Appoints Mona Bates as Senior Vice President and Chief Information and Digital Officer, Effective February 23, 2026 BAE Systems Inc. has appointed Mona Bates senior vice president and Chief Information and Digital Officer, effective February 23, 2026. In this role, Bates will be a member of the BAE Systems Inc., senior leadership team, reporting to President and Chief Executive Officer Tom Arseneault. She will be responsible for leading and executing the company’s technology and digital strategies to advance business priorities and enhance user experience. Bates will also lead the BAE Systems Inc. IT function. Bates has more than 20 years of IT and business expertise across industry and government, 15 years of which was with RTX (formerly Raytheon Technologies) companies where she most recently served as the Chief Digital Officer for Collins Aerospace. Bates received her bachelor’s degree in computer networking from Regis University and her master’s of business administration in information technology management from the University of Colorado, Colorado Springs. Ankündigung • Dec 05
Bae Systems Launches Bae Systems Onearc BAE Systems Inc. announced the launch of BAE Systems OneArc (OneArc), a defense technology innovator, delivering commercial products and solutions in synthetic training, simulation, interoperability, geospatial, data analytics, and artificial intelligence (AI). OneArc unites the strategic acquisitions of Bohemia Interactive Simulations, TerraSim, and Pitch Technologies to advance complementary mission-ready capabilities that better prepare and protect the warfighter for a rapidly changing threat landscape. OneArc is a trusted commercial partner, designed for speed, agility, and accessibility. Its impact extends beyond disrupting the pace of development to create new solutions that provide sustainable, long-term value. It delivers trusted, ready-now products and modular solutions at scale to empower U.S., NATO, allied militaries, integrators, and partners. The company builds on 30-plus years of experience that has redefined U.S. and NATO defense training benchmarks by helping to establish NATO interoperability standards and earning the trust of more than 60 nations. OneArc will continue to offer products and solutions, including VBS, Mantle, BlueIG, Pitch, and TerraTools, as well as launch next-generation products and solutions. Ankündigung • Nov 19
BAE Systems Advances RH12 Storefront with New Radiation-Hardened Circuit Technology for Space Community BAE Systems added new capabilities to its next-generation, radiation-hardened 12 nanometer (nm) Storefront. The RH12™ Storefront is an advanced and accessible integrated circuit development capability with a vast technology library to support a wide range of space applications. The Storefront enables the development of application-specific integrated circuits (ASICs) to execute critical missions in the most extreme and challenging conditions in space. Through simplified intellectual property (IP) licensing and proven ASIC design and manufacturing methods, the RH12 Storefront now allows customers to rapidly develop their own system-on-chip (SoC) 12nm designs with new features to meet those demands. The IP cores, ranging from basic logic elements to complex processing and interface functions, comprise a comprehensive library of proven design elements readily available for use by Storefront customers. The smaller, lower power 12nm transistors provide higher function and performance, an important factor in space where resources are limited. BAE Systems applies its radiation-hardening and reliability enhancement techniques to circuit building blocks developed internally and licensed from third-party IP providers. GlobalFoundries provides the commercial 12nm foundry manufacturing for the Storefront. IP based on technology from several providers including BAE Systems, Cadence, Rambus Inc., and Spectral Design and Test Inc. delivers new functionality with robust radiation protection. Advanced data conversion (analog-to-digital and digital-to-analog) capabilities and embedded field programmable gate array IP to program logic function after manufacturing are also being evaluated for Storefront integration. Ankündigung • Oct 15
Bae Systems Introduces Horizon Solutions Aftermarket Services and Support BAE Systems introduced Horizon Solutions Aftermarket Services and Support at the MRO Europe conference, the new name for its expanded product offerings in commercial avionics repair and support. The Horizon Solutions lineup reflects BAE Systems' commitment to innovation and growth to meet the industry's evolving demands. The newly named Horizon Solutions™? product line is rolling out value-added services designed to keep fleets running longer and more efficiently. As a result, customers can now take advantage of an expanded catalog that includes: Flexible trade-in programs that make updates or replacements easier; Overhaul offerings that extend equipment life and performance; Package reliability upgrades to increase fleet uptime; Fleet harmonization programs to help streamline inventory and reduce costs. Ankündigung • Oct 13
BAE Systems's Scorpio-XR Extended Range Art Artic projectile Strike a Decisive Blow BAE Systems and the U.S. Army Combat Capabilities Development Command Armaments Center (DEVCOM AC) successfully tested the Scorpio-XR artillery projectile from a 155mm howitzer. With multiple shots significantly exceeding test objective requirements by guiding to and impacting the target, the tests demonstrated the compatibility of the Scorpio-XR rounds with 155mm 52-caliber Joint Ballistics Memorandum of Understanding howitzers. This major program milestone shows BAE Systems' ability to partner with the Army to advance guided-projectile technology to deliver key innovations at the round. When combined with advanced sensors, the Scorpio-XR will have the ability to achieve precision at ranges more than doubling existing cannon artillery munitions and improve lethality of division-level 155mm artillery weapon systems in contested environments. Formerly referred to as the XM1155-SC, the advanced long-range precision fires munition is now known as Scorpio-XR - a name that reflects its enhanced capability, extended range, and lethality overmatch for the U.S. Army brigade and division artillery units. Previously, the Scorpio-X R has successfully guided to and engaged targets at record setting distances from a variety of 155mm artillery weapon systems ranging from 39-caliber up to 58-caliber. Ankündigung • Sep 25
BAE Systems plc Announces Stepdown of Elizabeth Corley as Non-Executive Director, Effective November 30, 2025 Schroders plc confirms that Elizabeth Corley, Chair of the Company, will step down as a Non-Executive Director of BAE Systems plc, effective 30 November 2025. Ankündigung • Sep 24
BAE Systems plc Announces Board Changes BAE Systems plc announced the appointment of John Pettigrew as a non-executive director of the Company with effect from 23 February 2026. Mr. Pettigrew will also become a member of the Audit and Risk Committee from the same date. Mr. Pettigrew is currently the Chief Executive Officer at National Grid plc, having been appointed in 2016. He is scheduled to step down from that role on 16 November 2025. Mr. Pettigrew joined National Grid as a graduate trainee in 1991 and during his time there held a variety of senior roles, including UK Director of Engineering, Chief Operating Officer and Executive Vice President for the US Electricity Distribution & Generation business, Chief Operating Officer for UK Gas Distribution, and UK Chief Operating Officer. He joined the National Grid Board as Executive Director, UK in 2014. John is also the Senior Independent Director of Rentokil Initial plc. The Company further announces that Dame Elizabeth Corley will step down from the Board on 30 November 2025, having completed more than nine years' service. Ankündigung • Sep 18
BAE Systems plc announced that it has received $1.577561 million in funding On September 18, 2025, BAE Systems plc closed the transaction. Ankündigung • Sep 04
U.S. Army Begins Fielding BAE Systems' Mission-Critical Software-Defined Radios Across Rotary-Wing Aviation Fleet BAE Systems' AN/ARC-231A Multi-mode Aviation Radio Set (MARS) has completed initial installation and is operationally ready for use on select U.S. Army rotary-wing aircraft. This fielding marks a major step forward in equipping warfighters with an advanced, secure, and fast-operating communications solution to inform key decisions in the field. The AN/ARC-231A MARS system is the newest generation of multi-band, multi-mission, airborne communications systems with Type 1 crypto modernization. BAE Systems designed the system to enable U.S. Army secure waveform upgrades across its rotary-wing fleet or tailored to specific mission needs. MARS' programmability supports evolving communication needs, special mission modifications, and performance enhancements. The software communications architecture and software-defined radio design enables deployment of new capabilities as software-only upgrades. The AN/ARC-230A MARS system is comprised of the RT-1987 radio with associated ancillaries, including amplifiers and mounting bases. It serves as a drop-in replacement for the original ARC-231 radio currently fielded across U.S. armed forces and allies. MARS focuses on configurability and allows for flexible integration and mission deployment options that ensure interoperability for joint force operations. Available through foreign defense sales, it provides international compliant air traffic control communications and a full range of mandatory U.S. and NATO capabilities. With more than 100,000 radios deployed globally, BAE Systems' battle-proven communications products offer significantly increased capability of legacy products. The company's compact radio sets also offer multi-band, secure anti-jam voice, data imagery transmission, and network-capable communications. The MARS system is manufactured at BAE Systems' facility in Fort Wayne, Indiana with engineering support in Largo, Florida. Ankündigung • Aug 14
Ursa Major Develops Extended Range Rocket Motor for APKWS®? Laser-Guidance Kit Ursa Major, in collaboration with BAE Systems, has completed a series of successful static fires for a new extended range variant of the solid rocket motor used for the APKWS laser-guidance kit. This next-generation rocket motor incorporates Ursa Major's Highly Loaded Grain propellant technology, delivering enhanced range and performance without increasing the motor's size. The milestone marks significant progress toward a flight test demonstration planned for fall 2025, underscoring Ursa Major's ability to rapidly develop, test, and deliver propulsion systems that meet urgent warfighter needs. BAE Systems' APKWS guidance kit transforms unguided 2.75-inch rockets into smart laser-guided rockets for precision strikes. The guidance kit redefines precision munitions by hitting targets with pinpoint accuracy and minimal collateral damage, delivering critical lethality when it matters most. The kits are available to all U.S. armed forces, as well as allies via Foreign Military Sales. By combining proven hardware, rapid production, and a mission-agnostic manufacturing line, Ursa Major is reshaping the solid rocket motor landscape, unlocking urgently needed capacity for the U.S. and its allies. This successful static fire comes after the announcement validating similar capabilities of both 10" diameter and 5" diameter SRMs. Ankündigung • Jun 18
BAE Systems' Electric Drive System Demonstrates High Fuel Economy in Federal Testing BAE Systems' innovative Gen3 electric drive system has successfully completed testing at the Federal Transit Administration's (FTA) Bus Research and Testing Center (BRTC), demonstrating best-in-class fuel economy and emissions results. Equipped with BAE Systems propulsion and accessory power controls, the bus produced an average fuel economy of 6.6 miles per gallon during testing, setting a new benchmark for a hybrid-electric bus in North America. Fuel savings also contributed to significant reductions across emissions categories. The Gen3 system was developed to enhance power delivery, improve acceleration, cut replacement and maintenance time, and significantly reduce fuel consumption and emissions on hybrid buses. For several months, the bus was tested with the company's Gen3 drive train system across various duty cycles to monitor fuel economy and emissions performance. BRTC staff also evaluated the bus for maintainability and noise levels. With testing completed, FTA grant funding for the system is now available for transit agencies around the country. BAE Systems' Gen3 system includes a traction motor, onboard energy-storage system, and smart-power electronics to create a clean, integrated electric propulsion and accessory power system for buses. The modular power control system and electric motor also use fewer components, connections, and cables compared to previous iterations. This increases reliability and makes it easier to service, while still delivering a smooth and quiet ride for passengers. The system builds on proven components with next-generation developments, incorporating advanced materials such as silicon carbide with a lightweight, compact design to maximize electrical efficiency, improve fuel economy, and decreased emissions. BAE Systems has nearly 30 years of experience developing and integrating electric drive systems for buses and heavy-duty vehicles. The company has more than 19,000 systems in service on transit buses worldwide, including on hybrid-electric, battery-electric, and hydrogen fuel cell applications. Its electric propulsion technology is developed and serviced at the company's facilities in Endicott, New York and Rochester, U.K. Ankündigung • Jun 10
BAE Systems, Inc. Names Tara Olivet Senior Vice President of Finance, Effective June 7 BAE Systems Inc. has named Tara Olivet as its Senior Vice President of Finance, effective June 7. Olivet will lead financial operations for the company’s U.S.-based businesses. She will also serve as a member of the BAE Systems Inc. senior leadership team, reporting to President and CEO Tom Arseneault. Olivet joined BAE Systems in 2005 and has held numerous roles across the global enterprise, most recently serving as BAE Systems Inc.’s Deputy Senior Vice President of Finance, and prior to that, as Vice President of Finance for the Platforms & Services sector. Before that, she spent six years with BAE Systems Inc.’s headquarters team as the Vice President of Internal Audit and Controller. Olivet also served as the Finance and Controls Director for the U.K. Aircraft Carrier Alliance, which built and delivered the Queen Elizabeth Class Carriers to the Royal Navy, among other roles. Olivet succeeds Dan Sallet, who will support special projects until his retirement in January. Olivet holds a Master of Business Administration from Georgetown University; a Bachelor of Business Administration in Finance and Marketing from Ithaca College; and a Certificate in Accounting from the University of California, Berkeley. She is also a Certified Public Accountant (CPA). Ankündigung • Jun 03
BAE Systems plc Unveils Comprehensive Line of M-Code Gps Receives At Joint Navigation Conference BAE Systems unveiled a diverse line of M-Code Global Positioning System (GPS) receiver solutions at the Joint Navigation Conference in Cincinnati this week, rounding out an extensive line of products that ensure U.S. warfighters have the most dependable GPS systems available across sea, land, and air. BAE Systems' security-certified Common GPS Modules (CGMs) leverage the robust M-Code signal across an all-inclusive GPS receiver line. The portfolio scales from the world's smallest and lowest-power M-Code GPS for size, weight, and power (SWaP)-challenged applications, to highly robust receivers with integrated anti-jam antenna electronics for exceptionally challenging environments. BAE Systems' diverse line of M-Code receivers are next-generation GPS solutions for airborne, weapon, and ground platforms, including handheld form factors. This includes: Airborne Modernized Receiver (AMR) DIGAR™?-300M, MPE™?-M, MicroGRAM™?-M, NavFire™?-M, NavGuide™?, NavStrike™?-M, NavStorm™?-M, SABR™?-M. The company anticipates deliveries of the NavGuide™? handheld to customers will begin this year. BAE Systems is also set to deliver a future generation of GPS products based on Military GPS User Equipment (MGUE) Increment 2 technology, developed as part of the MGUE Increment 2 Miniature Serial Interface (MSI) program. The technology will improve the performance of military position, navigation, and timing (PNT) equipment and provide resilience against attacks on GPS signals. BAE Systems has provided selective availability anti-spoofing module products to more than 45 countries and has begun delivering M-Code GPS receivers in multiple form factors and levels of capability to the U.S. armed forces and its allies through foreign military sales. Ankündigung • Mar 28
BAE Systems plc, Annual General Meeting, May 07, 2025 BAE Systems plc, Annual General Meeting, May 07, 2025. Ankündigung • Dec 12
BAE Systems plc to Report Fiscal Year 2024 Results on Feb 19, 2025 BAE Systems plc announced that they will report fiscal year 2024 results on Feb 19, 2025 Ankündigung • Dec 02
BAE Systems, Inc. Completes Environmental Testing and Helps Advance NASA's Spherex Observatory Mission BAE Systems Inc. has completed environmental testing of NASA's Spectro-Photometer for the History of the Universe, Epoch of Reionization and Ices Explorer (SPHEREx) Observatory. This mission will conduct all-sky spectral surveys for the first time and provide scientists with new insights into the formation of the universe and the galaxies that inhabit it. Over the course of its minimum two-year mission, SPHEREx will utilize an advanced imager to survey the entire sky in near-infrared light four times, providing the most high-resolution color maps of the universe ever created and gathering data on more than 450 million galaxies, along with million of stars in solar system. These surveys will help to shed light on fundamental questions about the cosmos, map the 3D distribution of galaxies to study the expansion of the universe since the Big Bang, track the faint glow of ancient galaxies for clues as to how they formed and grew over time, and seek out how life-sustaining ingredients like water play a role in the development of planets. In addition to its primary science missions, SPHEREx will also work to identify targets of interest for more detailed observation by other satellites, such as the James Webb Space Telescope, and help lay a foundation for future missions like the Nancy Grace Roman Space Telescope.BAE Systems built the satellite bus for the mission, along with the instrument's telescope and cover. The other instrument elements were developed by the California Institute of Technology (Caltech) and NASA'sJet Propulsion Laboratory. Caltech's Dr. Jamie Bock is serving as the principal investigator for the mission.BAE Systems also led the observatory's integration and environmental testing program, which includes thermal vacuum chamber tests that simulate temperature and conditions in space, vibration and acoustic tests that mimic launch conditions, and electromagnetic interference and compatibility tests to ensure the spacecraft isn't vulnerable to electrical disruptions. With testing completed, BAE Systems will now enter final preparations for shipment and launch.SPHEREx is scheduled to launch no earlier than February 2025. Ankündigung • Oct 28
BAE Systems Demonstrates Next-Generation M-Code Increment 2 Global Navigation Satellite System User Equipment Technology BAE Systems successfully demonstrated M-Code signal tracking with an Increment 2 Global Navigation Satellite System (GNSS) receiver powered by the company's Next-Generation Application Specific Integrated Circuit (ASIC). This technological breakthrough is part of the Military GPS User Equipment (MGUE) Increment (Inc) 2 Miniature Serial Interface (MSI) program, the result of a $247 million contract received by BAE Systems in 2020 from U.S. Space Force Space Systems Command. Increment 2 is a significant leap forward in core signal processing capability and supports advanced signal processing, including support for additional satellite networks. The program will develop and qualify a small form factor receiver for use in applications requiring low size, weight, and power. This allows for easier integration into a wider range of platforms, such as battery-powered handheld receivers. This builds upon the flexibility offered by BAE Systems' current Selective Availability Anti-Spoofing Module (SAASM) and M-Code Increment 1 products. It provides more capability to outpace the threat, including field reprogramming and a flexible software configuration to meet mission needs. BAE Systems' extensive portfolio of M-Code GPS and anti-jam products provides flexible, efficient, and reliable navigation and guidance solutions for airborne systems, precision munitions, handheld receivers, and embedded applications. Development of the Increment 2 MSI program is conducted at the company's facility in Cedar Rapids, Iowa, where its team is unlocking the future power of this Next-Generation capability. Ankündigung • Oct 14
BAE Systems Presents Two Armored Multi-Purpose Vehicle Prototype Equipped with Different Mission Capabilities at AUSA 2024 BAE Systems is showcasing two Armored Multi-Purpose Vehicle (AMPV) prototypes at AUSA 2024. A new AMPV prototype equipped with a 30mm turret will be featured alongside the AMPV Modular Turreted Mortar System (MTMS), which just completed U.S. Army evaluations at the Yuma Test Center. BAE Systems' common top plate is what enables the seamless incorporation of these mission equipment packages onto the AMPV and is adaptable to more than 30 different turret systems. BAE Systems' common top plate is adaptable to more than 30 different turret systems. The latest configuration – which is the fifth in a series of AMPV prototypes that BAE Systems has unveiled in the last year – features the KONGSBERG Medium Caliber Turret (MCT), a compact and light weight remote turret system the U.S. Marine Corps has selected to field on the 30mm variation of their Amphibious Combat Vehicle program. One of those options the Army is currently evaluating is the AMPV MTMS. The prototype integrates the AMPV and common top plate with the KONGSBERG/Patria NEMO remote-controlled 120mm turreted mortar system. BAE Systemsdelivered the prototype to the Army in January 2024 for a full battery of field evaluations. After completing those evaluations, the AMPV MTMS participated in a successful live fire demonstration on September 10, 2024 at the Maneuver Warfighter Conference in Fort Moore, Georgia before AUSA. The three other systems that have been configured onto the AMPV over the last year include a C-UAS turret, an unmanned 30mm turret and a medium caliber 30mm weapon system-all adapted to the hull using the same common top plate. In addition to prototyping efforts, BAE Systems is close to completing its efforts to expand the AMPV production line in York, Pennsylvania. Continued investment in AMPV production ensures the company maintains the capacity and technology necessary to deliver capability to the Army at a faster pace and with higher volumes. Ankündigung • Oct 01
BAE Systems' RAD510 Software Development Unit Now Available for Order BAE Systems' RAD510 software development unit (SDU) is now available for order to the space community. The SDU enables initial software implementation and testing as customers prepare to convert from the RAD750 single-board computer (SBC) to the next-generation RAD510 SBC. Currently in qualification, the RAD510 SBC offers three times the performance capability of its predecessor, supporting critical space missions. By offering the RAD510 SDU in parallel to SBC qualification, it enables users to develop, integrate, and test with their own applications. The approach mitigates risk and enables easier adoption of the new solution. To further prepare customers, the RAD510 SBC will launch in industry-standard 3U form factor and use software compatible with both BAE Systems' RAD750 and RAD5545 SBCs. This design commonality reduces user software development costs. The RAD510 SBC is designed to withstand the challenging environment of radiation and extreme temperatures of space. It is built on the demonstrated success of BAE Systems' RAD750 SBC that has enabled more than 100 satellites, carrying out a variety of missions. The next-generation SBC provides increased processing capability and interface connectivity while maintaining the similar size, weight, and power as the RAD750 SBC. It employs a system-on-chip to serve as the primary processing component and has the radiation advantages of rad-hard 45 nanometer silicon-on-isolator technology. The SBC is a complete, functioning computer in which the microprocessor, input/output functions, memory, and other features are all built on a single circuit board. Ankündigung • Sep 10
BAE Systems plc Announces Lord Mark Sedwill Steps Down from His Role as Non-Executive Director BAE Systems plc announced that Lord Mark Sedwill has stepped down from his role as Non-Executive Director with immediate effect. At Lord Robertson's request, Lord Sedwill has agreed to chair a Review and Challenge Panel for the UK Government's Strategic Defence Review. Because of this, and his evolving parliamentary and other commitments, he has decided to leave the Board. Ankündigung • Aug 14
BAE Systems Completes Testing, Ships Primary Instrument for Roman Space Telescope BAE Systems has successfully shipped the Nancy Grace Roman Space Telescope's Wide Field Instrument (WFI) to NASA's Goddard Space Flight Center in Greenbelt, Maryland, signaling the completion of integration and testing of the instrument. The WFI is the primary scientific instrument for the Roman Space Telescope, NASA's next astrophysics mission. The instrument is an advanced visible-to-near-infrared imager with additional spectral capabilities that will capture highly detailed images over wide swaths of the sky, offering a field of view at least 100 times greater than its predecessor, the Hubble Space Telescope, with a similar resolution. This instrument will dramatically improve the speed and scale of astronomical surveys, unlocking new insights into the mysteries of dark matter and dark energy, discovering distant galaxies and exoplanets, and studying how the structure of the universe has formed over billions of years. BAE Systems designed and built the instrument's opto-mechanical assembly, which includes the optical bench, element wheel, thermal control system, alignment compensation mechanism, and associated subsystem control electronics. NASA Goddard build the instrument's focal plane system, relative calibration system, diffraction elements for the element wheel, and the instrument command and data handling electronics. BAE Systems also led the integration of the WFI's components, along with environmental testing to ensure it can withstand the stresses of a launch and the conditions it will face in space. With the instrument delivered, the Goddard team will lead the effort to integrate the WFI into the instrument carrier and mate it to the spacecraft bus later this year. The Roman Space Telescope is scheduled to launch by May 2027. The work on the Roman Space Telescope continues the BAE Systems Space & Mission Systems' legacy of contributing to all of NASA's astrophysics missions, including the James Webb Space Telescope and the Great Observatories: the Hubble Space Telescope, Spitzer Space Telescope, Chandra X-ray Observatory, and the Compton Gamma-Ray Observatory. BAE Systems was also recently selected to conduct a research effort for NASA's planned Habitable Worlds Observatory, called the Ultra-stable Large Telescope Research and Analysis Program – Critical Technologies (ULTRA-CT). Ankündigung • Aug 01
BAE Systems plc (LSE:BA.) acquired Callen Lenz Associates Limited. BAE Systems plc (LSE:BA.) acquired Callen Lenz Associates Limited on May 2, 2024.
BAE Systems plc (LSE:BA.) completed the acquisition of Callen Lenz Associates Limited on May 2, 2024. Ankündigung • Jun 18
BAE Systems Showcases Modularity of Armored Multi-Purpose Vehicle with New Prototype At Eurosatory BAE Systems’ fourth Armored Multi-Purpose Vehicle (AMPV) prototype is being showcased at Eurosatory this week. Configured with a common top plate, also known as the External Mission Equipment Package (ExMEP), the prototype showcases the vehicle’s ability to integrate capabilities and equipment packages internationally. This AMPV prototype features Oshkosh Defense’s Medium Caliber Weapon System (MCWS), a 30mm weapon system with planned fielding to the U.S. Army’s Stryker Brigade Combat Teams. The vehicle’s ExMEP can adapt to more than 30 different turret systems and builds on the vehicle’s modularity. This creates a seamless path for international customers to address various mission needs with the AMPV platform. BAE Systems integrated and successfully demonstrated a C-UAS prototype in November 2023, while also integrating and delivering a 120mm unmanned Turreted Mortar capability to the U.S. Army in January 2024. The AMPV NxT prototype was debuted with a 30mm turret at AUSA Global Force in March 2024—all three prototypes using the common top plate. The five variants currently in production provide enhanced survivability and performance over the legacy M113 FoV. The modular chassis and commonality of the AMPV have proven it to be a low-risk and cost-effective solution that rapidly delivers continued combat overmatch solutions to troop, ready for the battlefield. The AMPV prototype will be on display in Hall 5A at stand B369. To view the full range of BAE Systems’ capabilities featured at Eurosatory. Upcoming Dividend • Apr 11
Upcoming dividend of UK£0.18 per share Eligible shareholders must have bought the stock before 18 April 2024. Payment date: 03 June 2024. Payout ratio is a comfortable 49% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of British dividend payers (6.0%). Higher than average of industry peers (2.0%). Ankündigung • Feb 27
BAE Systems plc to Report First Half, 2024 Results on Aug 01, 2024 BAE Systems plc announced that they will report first half, 2024 results on Aug 01, 2024 Declared Dividend • Feb 23
Final dividend increased to UK£0.18 Dividend of UK£0.18 is 11% higher than last year. Ex-date: 18th April 2024 Payment date: 3rd June 2024 Dividend yield will be 2.4%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (49% earnings payout ratio) and cash flows (32% cash payout ratio). The dividend has increased by an average of 4.3% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 22% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 22
Full year 2023 earnings released: EPS: UK£0.61 (vs UK£0.51 in FY 2022) Full year 2023 results: EPS: UK£0.61 (up from UK£0.51 in FY 2022). Revenue: UK£23.1b (up 8.6% from FY 2022). Net income: UK£1.86b (up 17% from FY 2022). Profit margin: 8.0% (up from 7.5% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Aerospace & Defense industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Feb 22
Now 20% undervalued Over the last 90 days, the stock has risen 15% to UK£12.34. The fair value is estimated to be UK£15.49, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.4% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to grow by 8.2% per annum. Earnings are also forecast to grow by 5.5% per annum over the same time period. Ankündigung • Feb 02
BAE Systems plc (LSE:BA.) acquired Malloy Aeronautics Ltd. BAE Systems plc (LSE:BA.) acquired Malloy Aeronautics Ltd. on February 2, 2024. Malloy Aeronautics will be part of FalconWorks, the research and development business within BAE Systems’ Air sector.BAE Systems plc (LSE:BA.) completed the acquisition of Malloy Aeronautics Ltd. on February 2, 2024. Ankündigung • Feb 01
Baes Systems, Inc. Completes Critical Design Review Program to Design and Manufacture Advanced Military Gps Receives $247 Million Contract from the U.S. Space Force BAESystems' program to design and manufacture an advanced military GPS receiver and next-generation semiconductor has completed Critical Design Review (CDR). The Military GPS User Equipment (MGUE) Increment 2 Miniature Serial Interface (MSI) program is part of a $247 million contract received in 2020 from the U.S. Space Force. The MSI includes a Next-Generation Application Specific Integrated Circuit (NG ASIC) which will provide enhanced security and performance of M-Code technology. It can also be easily transitioned into future BAE Systems M-Code GPS receivers. The MGUE Increment 2 program has two goals. The first is to develop an advanced, security certified M-Code NG ASIC, which provides assured Position, Navigation and Timing (PNT) in GPS jamming and spoofing environments, incorporates multi-Global Navigation Satellite System (GNSS) robustness, and reduces power consumption. This capability will support military users and weapon systems in airborne, maritime, and ground domains. The second is to develop and qualify a small form-factor MSI GNSS receiver for use in applications requiring low size, weight, and power. This allows for easier integration into a wider range of platforms, including battery-powered dismounted applications. The program is scheduled for completion in 2025 and will then be deployed to the U.S. and its allies. Work on the MGUE Increment 2 program is conducted at BAE Systems' facility in Cedar Rapids, Iowa. Ankündigung • Dec 08
BAE Systems plc Announces Changes to Membership of Board Committees, Effective January 1, 2024 BAE Systems plc announced the following changes to the membership of Board committees, effective 1st January 2024. Stephen Pearce will join the Environmental, Social and Governance Committee and Dr. Jane Griffiths will join the Audit Committee. Additionally, Angus Cockburn will join the Remuneration Committee and Nicole Piasecki will step down from the Environmental, Social and Governance Committee. Accordingly, the membership of each Board Committee, effective as at 1st January 2024 will be as follows: Nominations Committee: Cressida Hogg - Chair, Nick Anderson, Crystal E. Ashby, Angus Cockburn, Dame Elizabeth Corley, Dr. Jane Griffiths, Dr. Ewan Kirk, Stephen Pearce, Nicole Piasecki, Lord Sedwill. Audit Committee: Stephen Pearce - Chair, Angus Cockburn, Dame Elizabeth Corley, Jane Griffiths. Remuneration Committee: Nicole Piasecki - Chair, Angus Cockburn, Dame Elizabeth Corley, Ewan Kirk. Environmental, Social and Governance Committee: Jane Griffiths - Chair, Nick Anderson, Crystal Ashby, Stephen Pearce, Lord Sedwill. Innovation and Technology Committee:Ewan Kirk - Chair, Nick Anderson, Dame Elizabeth Corley, Nicole Piasecki. Ankündigung • Nov 29
BAE Systems Unveils ADAPT Virtual Environment to Advance Mission Outcomes BAE Systems unveiled its advanced digital analysis and prototyping testbed, also known as ADAPT, at the annual I/ITSEC in Orlando, Florida. ADAPT is an integrated virtual environment designed to provide comprehensive analysis across multiple warfighting domains, improving the ability of decision-makers to predict, adapt, and win in contested, evolving environments. ADAPT models and simulates complex scenarios, encompassing platforms, sensors, networks, data, and processing algorithms in real-time--a capability that is not achievable with high-level simulators or operations analysis tools. The virtual environment's high-fidelity platform can simulate real-world combined joint all domain command and control (C-JADC2) scenarios. In addition to mission and information analysis, ADAPT provides system of systems analysis through the integration of model-based system engineering in which it can assess, trade, and optimize architecture and requirements in a digital environment. Ankündigung • Nov 14
Bae Systems plc Reaffirms Group Earnings Guidance for the Year Ending 31 December 2023 BAE Systems plc reaffirmed group earnings guidance for the year ending 31 December 2023. For the year, the group expects sales of 5% to 7%. Underlying EBIT of 6% to 8%. Underlying earnings per share of 10% to 12%. Ankündigung • Nov 13
BAE Systems plc to Report Fiscal Year 2023 Results on Feb 21, 2024 BAE Systems plc announced that they will report fiscal year 2023 results on Feb 21, 2024 Ankündigung • Nov 10
BAE Systems plc Announces Board Changes BAE Systems plc announced the retirement of Chris Grigg as a non-executive director and Senior Independent Director, effective 31 December 2023, having served for more than 10 years. Nicole Piasecki will succeed Chris as Senior Independent Director with effect from 1 January 2024. Ankündigung • Oct 27
BAE Systems plc Appoints Angus Cockburn as A Non-Executive Director, Effective 6 November 2023 The board of BAE Systems plc announced the appointment of Angus Cockburn as a non-executive director of the company with effect from 6 November 2023. Angus Cockburn is currently Chair of James Fisher & Sons plc and the Senior Independent Director of Ashtead Group plc. He is also a non-executive director of STS Global Income & Growth Trust plc but will step-down from that board at the company's AGM in 2024. Until his retirement in 2021, he served for six years as Group Chief Financial Officer of Serco Group plc, during which he helped manage a major transformation of the business. Prior to that, he was Chief Financial Officer of Aggreko plc. He is also a former non-executive director of GKN plc and Howdens Joinery Group PLC. Angus holds an MBA from the IMD Business School in Switzerland. He is also an Honorary Professor at the University of Edinburgh and a member of the Institute of Chartered Accountants of Scotland. Upcoming Dividend • Oct 13
Upcoming dividend of UK£0.12 per share at 2.6% yield Eligible shareholders must have bought the stock before 19 October 2023. Payment date: 30 November 2023. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of British dividend payers (6.5%). In line with average of industry peers (2.4%). Ankündigung • Sep 12
Bae Systems plc Announces Debut of the Armored Multi-Purpose Vehicle At DSEI BAE Systems plc announced that the Armored Multi-Purpose Vehicle (AMPV) will make its international debut at DSEI 2023 this week, showcasing the vehicle's capability and future growth potential to U.S. allies and NATO partners. As the foundation of the future for the U.S. Army, the AMPV provides significant improvements in power, mobility, interoperability, and survivability. Now approved for full-rate production, the AMPV family of vehicles (FoV) was created to address the needs of Soldiers on the modern battlefield. The AMPV platform was engineered to be flexible, versatile, and agile. The five variants currently in production provide enhanced survivability and performance over the legacy M113 family of vehicles while incorporating inbound network and other future technologies. The platform also maintains commonality with the AMPV FoV and the Armored Brigade Combat Team to minimize operating costs and logistic burdens as capability needs evolve. Reported Earnings • Aug 03
First half 2023 earnings released: EPS: UK£0.32 (vs UK£0.20 in 1H 2022) First half 2023 results: EPS: UK£0.32 (up from UK£0.20 in 1H 2022). Revenue: UK£11.0b (up 13% from 1H 2022). Net income: UK£965.0m (up 57% from 1H 2022). Profit margin: 8.8% (up from 6.3% in 1H 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Aerospace & Defense industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Ankündigung • Aug 03
BAE Systems plc, Annual General Meeting, May 09, 2024 BAE Systems plc, Annual General Meeting, May 09, 2024. Location: 6 Carlton Gardens, London,SW1Y 5AD London United Kingdom Ankündigung • Jul 15
BAE Systems' PHASA-35 Completes First Successful Stratospheric Flight BAE Systems have successfully completed a stratospheric flight trial of BAE Systems' High Altitude Pseudo Satellite (HAPS) Uncrewed Aerial System (UAS) - PHASA-35. Over a 24-hour period, PHASA-35 soared to more than 66,000 feet, reaching the stratosphere, before landing successfully. The trial, completed last month in New Mexico in the USA, allowed engineers to assess the performance of the experimental solar-electric drone within the outer-reaches of the planet's atmosphere. The flight marks a significant milestone in PHASA-35's development which began in 2018. Designed by BAE Systems' subsidiary Prismatic Ltd. to operate above the weather and conventional air traffic, it has the potential to provide a persistent and stable platform for various uses including ultra-long endurance intelligence, surveillance and reconnaissance, as well as security. It also has the potential to be used in the delivery of communications networks including 4G and 5G and could be used in a wide range of applications, such as disaster relief and border protection, as an alternative to traditional airborne and satellite systems. The PHASA-35 programme sits within FalconWorks, a new centre for advanced and agile research and development within BAE Systems' Air sector, designed to deliver a range of cutting-edge combat air capabilities to the UK and its allies. PHASA-35, which has a 35-metre wingspan and carries a 15kg payload, uses a range of technologies including advanced composites, energy management, solar electric cells and photo-voltaic arrays to provide energy during the day which is stored in rechargeable cells to maintain flight overnight. The successful trial assessed the performance of the experimental system across a range of areas. It is the first in a series of trials planned to confirm system performance, support development activities and validate test points to enable PHASA-35 to be made available in defence and commercial markets internationally. New Risk • Jul 02
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.4% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. This is currently the only risk that has been identified for the company. Ankündigung • Jun 01
BAE Systems Launches Technology Partner Program for Core National Security Missions BAE Systems is launching Mission Advantage™, a new technology partner program that facilitates collaboration between BAE Systems’ Intelligence & Security sector and companies in the program to deliver cutting-edge technologies to accelerate mission readiness. Through the Mission Advantage™ program, Intelligence & Security will work with companies and organizations that align to their customers’ digital modernization objectives, to integrate and deliver advanced mission engineering, or offer disruptive, dual-use commercial, technologies that impact national security missions. Beyond leveraging the trusted mission expertise of BAE Systems, Mission Advantage™ will deliver a number of benefits to partner companies including driving business growth and acceleration through collaboration, mentorship opportunities, scalablity, and access to mission critical customer opportunities. It will also allow Intelligence & Security to advance industry standards as a leading systems integrator by providing expanded capabilities in the areas of advanced radar, cybersecurity, digital engineering, and modeling and simulation to current and future customers. Ankündigung • May 25
BAE Systems plc Appoints Elaine Luria to Its Board of Directors BAE Systems Inc. announced that former U.S. Representative and retired U.S. Navy commander Elaine Luria has been appointed to its Board of Directors. From 2019 to 2023, Luria represented Virginia’s Second Congressional District in the U.S. House of Representatives, where she served as vice chair of the Armed Services committee and as a member of the Veterans’ Affairs and Homeland Security committees. Prior to her time in Congress, Luria completed a 20-year active duty career in the U.S. Navy, serving as a nuclear-trained Surface Warfare Officer, with six deployments to the Middle East and Western Pacific. Her final tour was as commanding officer of Assault Craft Unit TWO. Luria holds a bachelor’s in Physics and History from the U.S. Naval Academy, and is a graduate of the Naval Nuclear Power School and Naval War College. Luria also holds a master’s in engineering management from Old Dominion University. During her military service, Luria earned numerous awards and decorations including the Defense Meritorious Service medal, Meritorious Service Medal, Navy/Marine Corps Commendation medal (multiple awards) and Navy/Marine Corps Achievement medal. Ankündigung • May 12
BAE Systems plc announced that it has received $1.553591 million in funding On May 11, 2023, BAE Systems plc closed the transaction. The transaction included participation from a single investor. Ankündigung • May 04
BAE Systems plc Announces Final Dividend for the Full Year 2023, Payable on 1 June 2023 BAE Systems plc announced that The 2022 final dividend of 16.6 pence per share will be paid, subject to shareholder approval, on 1 June 2023. Upcoming Dividend • Apr 13
Upcoming dividend of UK£0.17 per share at 2.6% yield Eligible shareholders must have bought the stock before 20 April 2023. Payment date: 01 June 2023. Payout ratio is a comfortable 53% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of British dividend payers (5.9%). In line with average of industry peers (2.6%). Reported Earnings • Mar 31
Full year 2022 earnings released: EPS: UK£0.51 (vs UK£0.55 in FY 2021) Full year 2022 results: EPS: UK£0.51 (down from UK£0.55 in FY 2021). Revenue: UK£21.3b (up 8.9% from FY 2021). Net income: UK£1.59b (down 9.5% from FY 2021). Profit margin: 7.5% (down from 9.0% in FY 2021). Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Aerospace & Defense industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Feb 25
Full year 2022 earnings released: EPS: UK£0.51 (vs UK£0.55 in FY 2021) Full year 2022 results: EPS: UK£0.51 (down from UK£0.55 in FY 2021). Revenue: UK£21.3b (up 8.9% from FY 2021). Net income: UK£1.59b (down 9.5% from FY 2021). Profit margin: 7.5% (down from 9.0% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Aerospace & Defense industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Ankündigung • Oct 21
BAE Systems plc to Report Q4, 2022 Results on Feb 23, 2023 BAE Systems plc announced that they will report Q4, 2022 results on Feb 23, 2023 Upcoming Dividend • Oct 13
Upcoming dividend of UK£0.10 per share Eligible shareholders must have bought the stock before 20 October 2022. Payment date: 30 November 2022. Payout ratio is a comfortable 59% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of British dividend payers (6.4%). Higher than average of industry peers (2.8%). Reported Earnings • Jul 29
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (down UK£1.00b from profit in 1H 2021). Profit margin: (down from 11% in 1H 2021). Over the next year, revenue is forecast to grow 15%, compared to a 13% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Buying Opportunity • Jul 16
Now 21% undervalued Over the last 90 days, the stock is up 4.0%. The fair value is estimated to be UK£10.03, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.2% over the last 3 years. Earnings per share has grown by 14%. For the next 3 years, revenue is forecast to grow by 6.1% per annum. Earnings is also forecast to grow by 1.4% per annum over the same time period. Upcoming Dividend • Apr 14
Upcoming dividend of UK£0.15 per share Eligible shareholders must have bought the stock before 21 April 2022. Payment date: 01 June 2022. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of British dividend payers (4.6%). In line with average of industry peers (3.1%). Reported Earnings • Apr 01
Full year 2021 earnings released: EPS: UK£0.55 (vs UK£0.41 in FY 2020) Full year 2021 results: EPS: UK£0.55 (up from UK£0.41 in FY 2020). Revenue: UK£19.5b (up 1.3% from FY 2020). Net income: UK£1.76b (up 35% from FY 2020). Profit margin: 9.0% (up from 6.7% in FY 2020). The increase in margin was primarily driven by higher revenue. Over the next year, revenue is forecast to grow 14%, compared to a 12% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 13% per year. 
