Defence News – Late February 2025
Estimated reading time 2 minutes
British aerospace and defence giant, BAE Systems, has announced its full year financials for 2024, reporting a 14% increase in revenue and record profits for the period.
For the first time, BAE Systems made an annual profit of more than £3bn (before tax and interest) in 2024, with strong performance reported across all of its divisions. Mergers and acquisitions, such as the purchase of Ball Aerospace in February 2024, were also cited as drivers behind the FTSE 100 company’s success last year.
BAE Systems says it expects sales to rise by 7%-9% in 2025, which would see the company’s revenue top £30bn this year. https://www.themanufacturer.com/articles/bae-systems-announces-14-revenue-increase-and-record-profits-for-2025/
UK defence organisations are making progress against their environmental, social and governance (ESG) goals, a new report has found.
According to the inaugural UK Defence ESG Charter Report, defence organisations are sourcing 50% of their energy from renewable sources, have increased employment diversity by a third and have made a significant reduction in the intergenerational STEM skills gap.
Published by trade association ADS, founders of the UK Defence ESG Charter, the report outlines how the seven defence companies who have signed the charter — Airbus, Babcock, BAE Systems, Leonardo, MBDA, QinetiQ, and Thales — have seen a one-third reduction in their combined Scope 1 & 2 GHG emissions.
