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BAE Systems PLC on Monday said its recent trading has been in line with its upgraded guidance from its interim results.
The London-based defence company said it is delivering ‘another year of good sales and earnings growth’, as well as ‘strong cash flow generation’.
It continues to expect sales growth of 5% to 7% in 2023 from the $23.26 billion sales achieved in 2022, with underlying earnings before interest and tax to grow 6% to 8% from $2.48 billion. BAE Systems anticipates a free cash flow of over £1.8 billion versus £1.95 billion in 2022.
The company pointed to a strong opportunity pipeline, as well as strong order flow on new and existing programmes, and renewals on incumbent positions.
Chief Executive Officer Charles Woodburn said: ‘These underpin our confidence and visibility for good top line growth in the coming years, and we continue to reinforce our value compounding model with a sharp focus on operational performance and disciplined capital allocation.’
BAE Systems shares were 0.6% higher at 1,110.50 pence each on Monday morning in London.
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