Market Performance - The Tel Aviv Stock Exchange experienced an overall increase, with the Tel Aviv 35 Index rising by 0.28% to 3,395.10 points, the Tel Aviv 125 Index increasing by 0.20% to 3,438.32 points, and the BlueTech Global Index up by 0.38% to 583.16 points [1] - The All Bond corporate bond index saw a slight increase of 0.02% to 419.46 points, with total turnover in equities reaching NIS 4.30 billion and NIS 4.08 billion in bonds [1] Foreign Exchange Rates - The shekel-dollar exchange rate was set at NIS 3.266/$, reflecting a decrease of 0.122% from the previous day, while the shekel-euro rate was set at NIS 3.783/€, down by 0.158% [2] Company Highlights - Bezeq Israel Telecommunications Company Ltd. led the market with a rise of 2.07% following the sale of its controlling stake for NIS 2.7 billion, resulting in the highest trading turnover of the day [3] - Camtek experienced a significant increase of 6.33%, marking the largest rise on the Tel Aviv 35 Index, while Tower Semiconductor rose by 3.72% [3] - Bank Leumi and Bank Hapoalim saw increases of 2.62% and 1.72% respectively, with Mizrahi Tefahot Bank up by 1.67% and Israel Discount Bank rising by 0.23% [4] - Conversely, Elbit Systems Ltd. faced the largest decline on the Tel Aviv 35 Index, falling by 5.23%, followed by Nice with a decrease of 4.35%, NextVision down by 2.93%, and Azrieli Group falling by 1.58% [4]

The Tel Aviv Stock Exchange rose today after strong gains in a late rally. The Tel Aviv 35 Index rose 0.63% to 3,199.10 points, the Tel Aviv 125 Index rose 0.69% to 3,277.02 points; and the BlueTech Global Index rose 0.23% to 581.57 points. The All Bond corporate bond index rose 0.09% to 418.85 points. Turnover totaled NIS 3.07 billion in equities and NIS 5.90 billion in bonds. On the foreign exchange market, the representative shekel-dollar rate was set 0.334% higher from Wednesday, at NIS 3.309/$, and t ...

Market Performance - The Tel Aviv Stock Exchange experienced an overall increase, with the Tel Aviv 35 Index rising by 1.07% to 3,208.01 points, and the Tel Aviv 125 Index increasing by 0.80% to 3,281.66 points [1] - The BlueTech Global Index saw a modest rise of 0.15% to 584.68 points, while the All Bond corporate bond index fell by 0.07% to 418.40 points [1] - Total turnover in equities reached NIS 3.27 billion, and in bonds, it totaled NIS 4.20 billion [1] Currency Exchange Rates - The shekel-dollar exchange rate decreased by 0.391% to NIS 3.324/$, and the shekel-euro rate fell by 0.838% to NIS 3.858/€ [2] Notable Company Movements - Bank Hapoalim led the market with a significant rise of 3.86%, accompanied by the highest trading turnover [2] - Other banks also saw increases: Bank Leumi rose by 3.03%, Mizrahi Tefahot Bank by 2.57%, and Israel Discount Bank by 2.97% [2] - Tower Semiconductor Ltd. recorded the largest increase on the Tel Aviv 35 Index, rising by 4.92% [3] - Phoenix Financial and Elbit Systems Ltd. also saw gains of 1.27% and 0.58%, respectively [3] - Conversely, Delek Group experienced the largest decline on the Tel Aviv 35 Index, falling by 2.32% [3] - Teva Pharmaceutical Industries Ltd. decreased by 0.92%, Nice fell by 0.43%, and Azrieli Group dropped by 1.43% [3]

Market Performance - The Tel Aviv Stock Exchange experienced a significant rise, with the Tel Aviv 35 Index increasing by 2.70% to 3,116.75 points, and the Tel Aviv 125 Index rising by 3% to 3,161.33 points, following positive news regarding a potential deal to return hostages and end the Gaza conflict [1] - The All Bond corporate bond index rose by 0.19% to 413.19 points, with total turnover in equities reaching NIS 1.91 billion and NIS 4.08 billion in bonds [1] Currency Exchange Rates - The shekel-dollar exchange rate was set 0.658% higher at NIS 3.366/$, while the shekel-euro rate increased by 0.107% to NIS 3.929/€ [2] Leading Companies - Bank Leumi led the market with a rise of 4.59%, followed by Bank Hapoalim at 4.48%, Mizrahi Tefahot Bank at 4.79%, and Israel Discount Bank at 5.53% [2] - Phoenix Financial saw the largest increase on the Tel Aviv 35 Index, rising by 9.78%, while Menora Mivtachim rose by 6.21%, Harel Finance and Investments by 8.13%, and Clal Insurance Enterprise Holdings by 6.56% [3] Declining Companies - Nice experienced the largest decline on the Tel Aviv 35 Index, falling by 2.43%, followed by Nova Ltd. at 1.61% and Teva Pharmaceutical Industries at 2.02% [4]

Market Overview - The Tel Aviv Stock Exchange experienced a significant decline, with the Tel Aviv 35 Index falling 1.88% to 2,996.85 points, and the Tel Aviv 125 Index dropping 1.99% to 3,041.18 points. The BlueTech Global Index decreased by 0.79% to 549.76 points. The All Bond corporate bond index also fell by 0.10% to 410.84 points. Total turnover reached NIS 4.22 billion in equities and NIS 4.98 billion in bonds [1]. Currency Exchange Rates - In the foreign exchange market, the shekel-dollar rate was set 0.09% lower at NIS 3.34/$, while the shekel-euro rate increased by 0.147% to NIS 3.954/€ [2]. Company Performance - Bank Leumi led the market decline, falling 2.71% with the highest trading turnover. Other banks also saw significant drops: Bank Hapoalim decreased by 3.36%, Mizrahi Tefahot Bank fell by 3.16%, and Israel Discount Bank dropped by 3.29% [2]. - Clal Insurance Enterprise Holdings experienced the largest decline on the Tel Aviv 35 Index, falling 5.58%. Harel Finance and Investments decreased by 4.17%, and Phoenix Financial fell by 4.49%. Elbit Systems Ltd. also saw a decline of 5.23% [3]. - In contrast, Nice rose by 4.18%, marking the largest increase on the Tel Aviv 35 Index. Tower Semiconductor Ltd. increased by 1.41%, while Camtek fell by 0.93% [3]. - Outside the Tel Aviv 35 Index, El Al Israel Airlines Ltd. fell by 5.5%, while Aryt Industries rose by 1.37% [4].

Market Performance - The Tel Aviv Stock Exchange experienced a decline, with the Tel Aviv 35 Index falling 0.13% to 3,054.16 points, the Tel Aviv 125 Index down 0.39% to 3,102.85 points, and the BlueTech Global Index decreasing by 1.05% to 554.12 points [1] - The All Bond corporate bond index also fell by 0.03% to 411.25 points, with total turnover in equities reaching NIS 3.69 billion and NIS 4.72 billion in bonds [1] Currency Exchange Rates - The shekel-dollar exchange rate was set 0.06% higher at NIS 3.343/$, while the shekel-euro rate increased by 0.53% to NIS 3.948/€ [2] Notable Stock Movements - Bank Hapoalim led the market with a rise of 0.49%, while Bank Leumi increased by 0.73% [2] - NewMed Energy saw the largest gain on the Tel Aviv 25 Index, rising 2.92%, followed by Energean plc at 2.72%, Elbit Systems Ltd. at 1.99%, and Nova Ltd. at 1.64% [3] - Teva Pharmaceutical Industries Ltd. experienced the largest decline on the Tel Aviv 35 Index, falling by 3.6%, with Camtek down 1.32% and Azrieli Group down 0.81% [3] Additional Company Movements - Mizrahi Tefahot Bank fell by 1.51%, and Israel Discount Bank decreased by 1.29% [4] - NextVision Stabilized Systems dropped 4.49% after announcing a $400 million capital raise [4]

Market Overview - The Tel Aviv Stock Exchange experienced a decline following Prime Minister Benjamin Netanyahu's comments on Israel's need for self-sufficiency, which overshadowed previous gains. The Tel Aviv 35 Index decreased by 0.27% to 3,058.22 points, the Tel Aviv 125 Index fell by 0.55% to 3,114.92 points, and the BlueTech Global Index dropped by 0.50% to 560.02 points. The All Bond corporate bond index also fell by 0.12% to 411.38 points. Total turnover in equities was NIS 2.80 billion and in bonds was NIS 3.83 billion [1]. Currency Exchange Rates - In the foreign exchange market, the shekel-dollar rate increased by 0.421% to NIS 3.341/$, while the shekel-euro rate rose by 0.522% to NIS 3.927/€ [2]. Company Performances - Bank Hapoalim led the market with a slight increase of 0.05% and the highest trading turnover. Mizrahi Tefahot Bank rose by 0.62%. Nova Ltd. recorded the largest gain on the Tel Aviv 35 Index, rising by 2.61%. Camtek increased by 1.44%, Bezeq Israel Telecommunications Company rose by 1.16%, and Ormat Technologies saw a rise of 1.56% [3]. Declines in Company Stocks - Clal Insurance Enterprise Holdings experienced the largest decline on the Tel Aviv 35 Index, falling by 3.97%. Phoenix Financial dropped by 3.22%. Other notable declines included Teva Pharmaceutical Industries, which fell by 1.68%, Elbit Systems decreased by 0.54%, and Delek Group saw a decline of 2.09% [4].

Company Overview - Elbit Systems is a leading global defense technology company that develops, manufactures, integrates, and sustains advanced solutions across multiple domains [3] - The company employs approximately 20,000 people in dozens of countries across five continents [4] Financial Performance - For the fiscal year ended December 31, 2024, Elbit Systems reported revenues of $6.8 billion [4] - The company has an order backlog of $22.6 billion as of the same date [4] Reporting and Accessibility - On March 20, 2025, Elbit Systems filed its annual report on Form 20-F for the fiscal year ended December 31, 2024, with the U.S. Securities and Exchange Commission, the Israel Securities Authority, and the Tel Aviv Stock Exchange [1] - The 2024 Annual Report is available for viewing or downloading on the company's website, and hard copies can be requested by shareholders free of charge [2]

Core Insights - Elbit Systems reported strong financial results for the fourth quarter and full year of 2024, with a backlog of orders totaling $22.6 billion and revenues of $6.8 billion, reflecting a 14% increase from 2023 [1][15][31]. Financial Performance - Fourth quarter revenues reached $1,930.2 million, up from $1,625.8 million in the same quarter of 2023, marking a significant year-over-year growth [4][15]. - Non-GAAP net income for the fourth quarter was $119.3 million (6.2% of revenues), compared to $69.7 million (4.3% of revenues) in the fourth quarter of 2023 [13][31]. - GAAP net income for the fourth quarter was $90.0 million (4.7% of revenues), up from $30.0 million (1.8% of revenues) in the fourth quarter of 2023 [13][31]. - For the full year 2024, non-GAAP net income attributable to shareholders was $391.5 million (5.7% of revenues), compared to $298.8 million (5.0% of revenues) in 2023 [31]. - GAAP net income for the full year was $321.1 million (4.7% of revenues), an increase from $215.1 million (3.6% of revenues) in 2023 [31]. Revenue Segmentation - Aerospace revenues increased by 27% in Q4 2024, driven by higher UAS revenues in Israel and Europe, and increased Precision Guided Munition (PGM) revenues [5]. - C4I and Cyber revenues rose by 7%, primarily due to sales of radio systems and command and control systems [5]. - Land revenues surged by 29%, mainly due to increased sales of ammunition and munitions in Israel [5][16]. - Elbit Systems of America revenues increased by 6%, attributed to higher sales of night-vision systems and medical instrumentation [5]. Operational Highlights - The company generated $320 million in free cash flow during the fourth quarter [3]. - Research and development expenses for Q4 2024 were $131.2 million (6.8% of revenues), compared to $117.4 million (7.2% of revenues) in Q4 2023 [7][19]. - Marketing and selling expenses for Q4 2024 were $107.2 million (5.6% of revenues), up from $91.3 million (5.6% of revenues) in Q4 2023 [7][20]. - General and administrative expenses decreased to $85.4 million (4.4% of revenues) in Q4 2024, down from $105.9 million (6.5% of revenues) in Q4 2023 [8][20]. Backlog and Future Outlook - The order backlog as of December 31, 2024, was $22.6 billion, an increase from $17.8 billion at the end of 2023, with approximately 65% of the backlog from international orders [33]. - About 57% of the current backlog is scheduled for execution in 2025 and 2026 [33]. - The company has experienced increased demand for its products from the Israel Ministry of Defense due to the ongoing conflict, with contracts awarded totaling over $5 billion during 2024 [34][35].