BAE Systems has confirmed it is expecting its underlyings earnings to be in line with 2017, and is anticipating to add to its order backlog with contracts in Australia and the US.
Ahead of its annual shareholder meeting, BAE Systems said in a statement that key decisions by governments will be made in the coming months, with lucrative contracts on the horizon.
"In Australia, we’ve secured the 10-year JORN upgrade contract. Whilst we weren’t down selected for Australia’s LAND 400 Phase 2 program, we expect a decision by the mid-year on the preferred tenderer for Australia’s nine-ship SEA 5000 Future Frigate program," chief executive Charles Woodburn said before the shareholder meeting.
In the US, the company is hopeful of securing contracts for amphibious combat vehicles, while in the Middle East discussions are progressing with Saudi Arabia for its plans to buy Typhoon fighter jets.
"In the air sector, discussions to finalise the financing conditions within the contract signed with Qatar in December 2017 are progressing," Woodburn said.