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A proactive focus on costs and enhanced competitiveness protected our margins across the majority of the business and we secured further contract wins in the US, Saudi Arabia and internationally. We have started 2014 with good momentum with a settlement on Salam pricing, US budgets in place and a well-defined UK Maritime sector plan. Budget pressures in some of the Group's larger markets are expected to prevail but BAE Systems has a broad-based portfolio. Our strong order backlog and robust balance sheet provide a solid basis for growth over the medium term.

Ian King, Chief Executive, BAE Systems



  • Sales increased by 2% to £18.2bn
  • Underlying EBITA increased by 3% to £1.9bn and underlying earnings per share increased by 9% to 42.0p
  • Equitable conclusion reached on price escalation negotiations with the Kingdom of Saudi Arabia
  • Order backlog of £42.7bn maintained at 2012 levels with non-UK/US order intake of £9.3bn
  • Robust, investment grade balance sheet, with net debt of £699m at year end
  • Full year dividend increased by 3% to 20.1p per share
  • £850m returned to shareholders in 2013

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For more information, please contact:

Lindsay Walls, BAE Systems
Tel: + (0) 44 1252 383074 / Mob: + 44 (0) 7793 427582

Leonie Foster, BAE Systems
Tel: + (0) 1252 383777 / Mob: + 44 (0) 7525 080099

Issued by:

BAE Systems plc
Tel: +44 (0) 1252 384719
24 hour media hotline: +44 (0)7801717739

Ref: 161/2014

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Simon Astley
Head of Communications Asia
Head Office

Mobile: +44 (0) 7801 717778

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Lindsay Walls
Director, Media Relations

+44 (0)1252 383074
+44 (0)7793427582

12 Default Profile Image
Lindsay Walls
Director, Media Relations

+44 (0)1252 383074
+44 (0)7793427582