BAE SYSTEMS ANNOUNCES 2025 HALF YEAR RESULTS: LANCASHIRE HIGHLIGHTS
BAE Systems has today published its 2025 half year results. The Company, which employs around 12,000 people at its Warton and Samlesbury sites, has experienced significant success across its combat air business in the region.
The Company’s Air sector workforce in Lancashire provides vital frontline combat air capabilities to UK and international customers, making an important contribution to safeguarding national defence and security. This includes providing around-the-clock support to the Royal Air Force Typhoon fleets, as well as leading the UK’s industrial contribution to the Global Combat Air Programme (GCAP) to deliver a next generation combat aircraft.
Charles Woodburn, BAE Systems Chief Executive, said:
“Our teams have delivered another strong operational and financial performance in the first half of the year, giving us the confidence to upgrade our guidance. In this heightened global threat environment, we continue to deliver mission critical capabilities to armed forces around the world and invest in our people, technologies and facilities to drive the improved efficiency, capacity and agility needed to meet the increasing demand for our highly relevant products and services. The breadth and depth of our geographic and product portfolio, together with our trusted track record of delivery, strengthen our confidence in the positive momentum of our business.”
Results in brief
| Financial performance measures as defined by the Group1 | Six months ended 30 June 2025 |
Six months ended 30 June 2024 |
Variance2 |
| Sales | £14,621m | £13,399m | +11% |
| Underlying earnings before interest and tax (EBIT) | £1,550m | £1,393m | +13% |
| Underlying earnings per share (EPS) – basic | 34.7p | 31.4p | +12% |
| Free cash flow | £(368)m | £219m | £(587)m |
| Order intake | £13.2bn | £15.1bn | £(1.9)bn |
| As at 30 June 2025 |
As at 31 December 2024 |
Variance | |
| Order backlog | £75.4bn | £77.8bn | £(2.4)bn |
| Financial performance measures as derived from IFRS | Six months ended 30 June 2025 |
Six months ended 30 June 2024 |
Variance2 |
| Revenue | £13,571m | £12,477m | +9% |
| Operating profit | £1,327m | £1,296m | +2% |
| EPS – basic | 32.3p | 31.4p | +3% |
| Net cash flow from operating activities | £74m | £757m | £(683)m |
| Dividend per share | 13.5p | 12.4p | +9% |
| As at 30 June 2025 |
As at 31 December 2024 |
Variance | |
| Order book | £57.0bn | £60.4bn | £(3.4)bn |
So far in 2025, BAE Systems’ Air sector has:
- secured £1 billion further funding for the UK assessment phase of the next generation combat aircraft;
- unveiled the design of the UK’s combat air flying demonstrator, with two thirds of its structural weight now in manufacturing;
- launched Edgewing, a new joint venture with our international industry partners in Italy and Japan, to design and develop the next generation combat aircraft under GCAP;
- commenced flight trials on the new Typhoon radar, ECRS Mk2, for the Royal Air Force from the Company’s flight-testing facility in Warton, Lancashire;
- partnered on the launch of a precision munition from a modified Malloy T-150 multi-rotor Uncrewed Air System (UAS) which successfully destroyed both air and ground targets during trials in the US, marking a major step forward in the development of a low-cost strike and counter UAS option for frontline troops*;
- seen the Royal Navy deploy a fleet of its Malloy T-150 UAS on the UK Carrier Strike Group to transport vital supplies between the ships for the first time during its ongoing deployment to the Indo-Pacific;
- recruited 590 people to work at the Company’s Warton and Samlesbury sites; and
committed to investing more than £570,000 in community
