BAE Systems: this is how well Lancashire's aerospace giant performed in the past year

The company, which employs nearly 13,000 people in its Air Sector, including around 10,000 people at its Warton and Samlesbury sites, has today published its 2022 full year results.

READ here how BAE has reached a major milestone for the world’s largest defence programme

What are the main points?

Figures show that in the year ending December 31, 2022, sales were £23.256m, up 4.4 per cent on the year before.

Revenue was also up 8.9 per cent on 2021 to £21.258m, and the order book jumped from £35.5bn in 2021 to £48.9bn in 2022.

However, operating profit was slightly down from £2.389m to £2.384m.

"Another year of strong results”

Charles Woodburn, BAE Systems Chief Executive, said: “We’ve delivered another year of strong results across the Group. Our employees have done an outstanding job to effectively manage supply chain and inflationary pressures whilst delivering critical capabilities and driving efficiencies for our customers.

“Our diverse geographic footprint, deep customer relationships and highly relevant, leading defence technologies mean we’re well positioned to support national security requirements in an elevated threat environment.

“Our record orders and financial performance give us confidence in delivering long-term growth and to continue investing in new technologies, facilities and thousands of highly skilled jobs, whilst increasing shareholder returns.”

Who are BAE Systems?

Teams in the Company’s Air business provide vital frontline military capabilities to UK and international customers, making an important contribution to safeguarding national defence and security. This includes playing a key role developing the future combat air system, Tempest, as well as providing training and support for the Royal Air Force Typhoon, F-35 Lightning and Hawk fleets.

The company’s workforce accounts for around one in ten of all manufacturing jobs in Lancashire and reflects the region’s role as a hub for advanced engineering.The remaining employees its Air sector are based at sites across the UK including Brough, RAF Coningsby and RAF Marham in the East of England, Frimley and Yeovil in the South of England, RAF Valley in Wales and Prestwick and RAF Lossiemouth in Scotland.

In December, it announced plans to take on more than 2,600 apprentices in 2023 – more than half of them from the North West.