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BAE Systems (BA)

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idpickering
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Re: BAE Systems (BA)

#449882

Postby idpickering » October 13th, 2021, 4:53 pm

ESG Event and Post 2021 AGM Update

BAE Systems (the Company) will hold an ESG event later today. Investors have been invited to join this online event, in which we will provide an update on ESG matters. The briefing will be led by the Chairman, Sir Roger Carr, with additional presentations from the Chair of the Environmental, Social and Governance Committee, the Chief Executive and members of the Executive Team.

The Chairman will update investors on the work the Board has undertaken in this area, including progress on our diversity and inclusion objectives, and succession planning at Board and senior executive level. Our Executive Team will also provide an update on other ESG matters including, our net zero target, product trading governance, workforce safety and wellbeing, and how we contribute to society.

At our Annual General Meeting held on 6 May 2021, while Resolution 2 to approve the Directors' Remuneration Report was passed, a significant minority of shareholders who voted (23.41%) chose not to support this resolution. The Chairman and the Remuneration Committee undertook an extensive consultation with investors prior to the AGM on this matter and were appreciative of the support received. The views of our shareholders are important to us, and since the AGM we have continued to engage with investors to maintain an open dialogue to ensure their views are understood.

In a statement issued after our AGM, the Board committed to providing an update later in the year explaining the additional work it would be undertaking in regards to senior executive succession planning.

We can report that progress has been made on this matter, with the completion of an in-depth review of the succession plans for all Executive Committee level roles, including the Chief Executive. As part of this review, the Board has undertaken a rigorous analysis of key executives identified as possible 'ready now' successors for each of these positions.

The Board has also identified high performing groups and we will continue to invest in additional education and training to strengthen the future talent pool. The focus on senior executive succession planning will continue with a further update in the Company's 2021 Annual Report and Accounts.

Following the event, copies of the presentations will be available on the Company's Investor Relations website at http://www.baesystems.com/investors .


https://www.investegate.co.uk/bae-syste ... 30009768O/

Stan
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Re: BAE Systems (BA)

#452374

Postby Stan » October 22nd, 2021, 9:21 pm

Got in just before ex-divi and SP pretty much recovered fully so pleased with that.

idpickering
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Re: BAE Systems (BA)

#452679

Postby idpickering » October 24th, 2021, 2:11 pm

Stan wrote:Got in just before ex-divi and SP pretty much recovered fully so pleased with that.


Good for you Stan. I've held BAE Systems continuously since 15 Oct 2009, and have no intention of selling my holdings any time soon, maybe even never. They form 5% in capital value terms, of my 28 share HYP.

Ian.

idpickering
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Re: BAE Systems (BA)

#456434

Postby idpickering » November 8th, 2021, 7:13 am

Trading Statement

Guidance

Our 2021 guidance remains unchanged from the improved underlying position outlined at the interim results and is underpinned by continuing good operational performance.

· Sales +3-5% (2020: £20,862m) - Constant currency +5-7%

· Underlying EBIT +6-8% (2020: £2,037m) - Constant currency 10%+

· Underlying EPS (1) +3-5% (2020: 44.3p)

· 2021 Free Cash Flow (FCF) >£1.0bn (2)

· Cumulative FCF 2021-2023 >£4bn



https://www.investegate.co.uk/bae-syste ... 00085734R/

Pendrainllwyn
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Re: BAE Systems (BA)

#456452

Postby Pendrainllwyn » November 8th, 2021, 8:59 am

Nothing much new. Seems like a "steady as she goes" update to me. I haven't held for long but am up 10% with dividends thrown in. I can't see the need for defence spending going away and am happy to hold for the long term.

Pendrainllwyn

dealtn
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Re: BAE Systems (BA)

#456481

Postby dealtn » November 8th, 2021, 10:39 am

"We have completed £308m of the £500m share buyback programme we announced in our Half-year results statements."

idpickering
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Re: BAE Systems (BA)

#456511

Postby idpickering » November 8th, 2021, 12:21 pm

Pendrainllwyn wrote:Nothing much new. Seems like a "steady as she goes" update to me. I haven't held for long but am up 10% with dividends thrown in. I can't see the need for defence spending going away and am happy to hold for the long term.

Pendrainllwyn



I've held BAE since 15 Oct 2009, and my average buying price is 385p per share. They currently form 4.8%, in capital value terms, of my 28 share HYP. Steady as she goes is fine by me. I like the diversification they bring to my HYP. I've no intention of buying more of the stock currently, and have no intention of selling my holdings either. A solid long term hold imho.

Ian.

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Re: BAE Systems (BA)

#457299

Postby daveh » November 11th, 2021, 12:32 pm

BAe to acquire simulations company:
https://www.investegate.co.uk/bae-syste ... 00030184S/

BAE Systems has entered into a definitive agreement to acquire Bohemia Interactive Simulations, a leading developer of advanced military simulation and training software.

idpickering
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Re: BAE Systems (BA)

#482448

Postby idpickering » February 24th, 2022, 7:06 am

Preliminary Announcement 2021

Charles Woodburn, Chief Executive, said: “Our strong results reflect the outstanding efforts of our
employees who have continued to adapt and work closely with our customers, suppliers and trades
unions to deliver capabilities which keep nations and citizens safe.
“We are continuing to evolve our business, increasing our investments in advanced technologies to
deliver differentiated solutions to meet our customers’ priorities.
“Our diverse portfolio, together with our focus on programme execution, cash generation and
efficiencies, is helping us to navigate the challenging operating environment, meaning we are well
positioned for sustained top line and margin growth in the coming years.”
Our financial highlights
Financial performance measures as defined by the Group1
– Sales increased by £0.4bn to £21.3bn, a 5% increase, excluding the impact of currency translation7
.
– Underlying EBIT3
increased to £2,205m, a 13% increase on a constant currency basis7
.
– Underlying earnings per share3
increased by 12% on a constant currency basis7
to 47.8p, excluding
the impact of the current year one-off tax benefit4
.
– Free cash flow3
was £1,864m (2020 inflow of £1,367bn, excluding the £1bn contribution into the UK
pension scheme).
– Net debt (excluding lease liabilities) decreased to £2,160m (2020 £2,718m).
– Order intake5 increased by £0.6bn to £21.5bn (2020 £20.9bn).
– Order backlog5
decreased by £1.2bn to £44.0bn (2020 £45.2bn).
Financial performance measures derived from IFRS2
– Revenue increased by £0.2bn to £19.5bn.
– Operating profit increased by £459m to £2,389m (2020 £1,930m).
– Basic earnings per share was 55.2p (2020 40.7p).

And later;

Dividends
The Board has recommended a final dividend of 15.2p for a total of 25.1p for the full year. Subject to
shareholder approval at the May 2022 Annual General Meeting, the dividend will be paid on 1 June 2022
to holders of Ordinary shares registered on 22 April 2022.


https://investors.baesystems.com/~/medi ... cement.pdf

Breelander
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Re: BAE Systems (BA)

#484886

Postby Breelander » March 7th, 2022, 1:56 pm

Acquisition Completion

Further to the announcement of 11 November 2021, BAE Systems has completed the acquisition of Bohemia Interactive Simulations (BISim) after receiving regulatory and customary approvals. The consideration of $200 million (approximately £150 million), subject to customary closing adjustments, has been funded from BAE Systems' existing cash resources.
https://www.investegate.co.uk/bae-syste ... 00027707D/

monabri
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Re: BAE Systems (BA)

#484887

Postby monabri » March 7th, 2022, 2:00 pm

I would imagine the order backlog decline might be turned about by recent events. An ill wind....

idpickering
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Re: BAE Systems (BA)

#489797

Postby idpickering » March 28th, 2022, 4:52 pm

NOTICE OF RESULTS AND DIVIDEND TIMETABLE

BAE Systems' half-yearly report for the six months ending 30 June 2022 will be published on 28 July 2022.


Ex Dividend 20 Oct 22, paid 30 Nov 22.

https://www.investegate.co.uk/bae-syste ... 00042727G/

idpickering
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Re: BAE Systems (BA)

#498566

Postby idpickering » May 5th, 2022, 7:23 am

Trading Statement.

Charles Woodburn, BAE Systems Chief Executive , said:

"Trading in the first quarter has been in line with expectations with strong order intake and good operational performance being maintained.

"Looking forward, our diverse portfolio, together with our focus on programme execution, cash generation and efficiencies, are helping us to navigate the challenging operating environment in the near term, while positioning us well for sustained top line and margin growth in the coming years, alongside accelerating our ESG agenda. Additionally, we see opportunities to further enhance the medium- term outlook as our customers address the elevated threat environment."

Guidance

The Group's full year 2022 guidance across all metrics is unchanged from that provided at the Preliminary announcement on 24 February 2022.

· Sales +2-4% (2021: £21,310m)

· Underlying EBIT +4-6% (2021: £2,205m)

· Underlying EPS +4-6% (2021: 47.8p)

· 2022 Free Cash Flow (FCF) >£1bn

· Cumulative FCF 2022-2024 >£4bn

· Guidance is provided on the basis of an exchange rate of $1.38:£1 for the year

Should the current dollar rate persist, this will be a tailwind to earnings with sensitivity to EPS being around 1 pence for every 5 cent movement.

Operational update

Overall programme execution has been good across all sectors in the year to date. There remain ongoing pressures on our supply chains, delivery lead times and people resourcing across our operations. Consistent with our guidance we continue to mitigate the major financial impacts. In many cases, we benefit from long-term programme positions and incumbencies with more stable forward visibility for long-lead items allowing us to continue to actively manage supplier lead times against demand requirements.

Order flow

We continue to expect a strong year of order intake and order flow to date has been positive especially on our long-term programmes.

Orders received are predominantly long cycle in nature which will support our growth expectations into the coming years.

Additionally, there is a pipeline of opportunities across all sectors to enhance the growth outlook, as we look to support our key customers and allies in addressing the heightened threat environment.


https://www.investegate.co.uk/bae-syste ... 00043757K/

idpickering
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Re: BAE Systems (BA)

#515187

Postby idpickering » July 18th, 2022, 7:42 am

BAE Systems - Participation in the Farnborough International Air Show.

BAE Systems will, this week, be participating in the Farnborough International Air Show. It is anticipated that such participation will include meeting with representatives from the investment community. No material un-published information on the performance of the Company will be provided at any such meeting.


https://www.investegate.co.uk/bae-syste ... 00077246S/

Ian.

GrahamPlatt
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Re: BAE Systems (BA)

#515206

Postby GrahamPlatt » July 18th, 2022, 9:01 am

May 5th trading statement

“Guidance is provided on the basis of an exchange rate of $1.38:£1 for the year”

Well, that didn’t last long!

idpickering
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Re: BAE Systems (BA)

#517785

Postby idpickering » July 28th, 2022, 7:12 am

Half-yearly Report 2022.

Charles Woodburn, Chief Executive , said: "Trading in the first half has been in line with expectations delivering strong order intake and good operational performance.

"Our diverse portfolio, together with our focus on programme execution, cash generation and efficiencies are helping us navigate the current macroeconomic challenges and position us well for sustained top line and margin growth in the coming years. We see further opportunities to enhance the medium- and long‑term outlook as our customers commit to increased defence spending to address the elevated threat environment.

"The positive outcome of the UK pension triennial review, along with our performance and confidence in the outlook enable us to maintain our guidance, continue to invest in our business and progress our ESG agenda whilst increasing returns to our shareholders.

"Good operational performance, execution on our strategy and confidence in the outlook enables us today to announce a 5% increase in the interim dividend as well as initiating a new, three-year share buyback programme for up to £1.5bn."

And later;

The directors have declared an interim dividend of 10.4p per ordinary share in respect of the period ended 30 June 2022, totalling approximately £328m. This will be paid on 30 November 2022 to shareholders registered on 21 October 2022. The ex-dividend date is 20 October 2022. This is in line with our usual dividend timetable.

Shareholders who do not at present participate in the Company's Dividend Reinvestment Plan and wish to receive the final dividend in shares rather than cash should complete a mandate form for the Dividend Reinvestment Plan and return it to the registrars for receipt no later than 9 November 2022.


https://www.investegate.co.uk/bae-syste ... 00150000U/

Ian.

idpickering
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Re: BAE Systems (BA)

#517798

Postby idpickering » July 28th, 2022, 7:58 am

Share Buyback Programme.

Today, BAE Systems plc ("BAE Systems", or the "Company") announced its interim results for the half year ending 30 June 2022 and a share buyback programme (the "Buyback Programme") of up to £1.5 billion.

The Buyback Programme is consistent with the Company's disciplined approach to capital allocation, reflecting the Company's strong cash flow delivery and balance sheet position. The sole purpose of the Buyback Programme is to reduce the issued share capital of the Company.

Details of the Buyback Programme

The Company has entered into an arrangement with Morgan Stanley & Co. International plc ("Morgan Stanley") in relation to the purchase by Morgan Stanley, as riskless principal, of ordinary shares of BAE Systems (the "Shares"). This agreement relates to the first tranche of the Buyback Programme and is for an amount of up to £500 million ("First Tranche"). The First Tranche will run from and including 28 July 2022 and is expected to be completed by 30 June 2023.

Any purchases of Shares under the First Tranche will be effected within certain pre-set parameters. These arrangements are in accordance with BAE Systems' general authority to repurchase Shares granted at its Annual General Meeting held on 5 May 2022 (the "2022 AGM"), Chapter 12 of the Listing Rules, and those provisions of Article 5(1) of Regulation (EU) No. 596/2014 (as incorporated into UK domestic law by the European Union (Withdrawal) Act 2018) and the Commission Delegated Regulation (EU) 2016/1052 (as incorporated into UK domestic law by the European Union (Withdrawal) Act 2018) dealing with buyback programmes. The number of ordinary shares to be purchased under the Buyback Programme will not exceed 314,658,597 Shares and is therefore within the 2022 AGM approved limit.

Details of the authority granted at the 2022 AGM can be found on our website under: https://investors.baesystems.com/~/medi ... g-2022.pdf


https://www.investegate.co.uk/bae-syste ... 30039958T/

Ian.

idpickering
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Re: BAE Systems (BA)

#546621

Postby idpickering » November 15th, 2022, 7:21 am

Trading Statement.

· Strong order intake continuing - further £10bn secured in the second half to date

· Good operational performance in challenging conditions

· Increased investment in R&D, people and facilities to support future growth

· Strong balance sheet supports capital allocation flexibility - >30% of 3 year £1.5bn share buyback completed

· Underlying group guidance for FY22 confirmed - represented upwards for both fx impact of the stronger dollar together with the progress made on the share buyback programme

· Large and predominantly long cycle orderbook, diverse portfolio and focus on programme performance gives line of sight for future growth and margin expansion


https://www.investegate.co.uk/bae-syste ... 00043728G/

Ian.

idpickering
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Re: BAE Systems (BA)

#547224

Postby idpickering » November 17th, 2022, 8:42 am

Share Buyback Programme Update.

Today, BAE Systems plc ("BAE Systems", or the "Company") announces that it has entered into an arrangement with Morgan Stanley & Co. International plc ("Morgan Stanley") in relation to the second tranche (the "Second Tranche") of the share buyback programme announced by the Company on 28 July 2022 (the "Buyback Programme"). The First Tranche of the Buyback Programme completed on 16 November 2022. The sole purpose of the Buyback Programme is to reduce the issued share capital of the Company.

In connection with the Second Tranche, the Company has instructed Morgan Stanley, acting as riskless principal, to purchase ordinary shares of BAE Systems (the "Shares") for an amount of up to £500 million. The Second Tranche will run from and including 17 November 2022, and is expected to be completed by 31 December 2023.

Any purchases of Shares under the Second Tranche will be effected within certain pre-set parameters. These arrangements are in accordance with BAE Systems' general authority to repurchase Shares granted at its Annual General Meeting held on 5 May 2022 (the "2022 AGM"), Chapter 12 of the Listing Rules, and those provisions of Article 5(1) of Regulation (EU) No. 596/2014 (as incorporated into UK domestic law by the European Union (Withdrawal) Act 2018) and the Commission Delegated Regulation (EU) 2016/1052 (as incorporated into UK domestic law by the European Union (Withdrawal) Act 2018) dealing with buyback programmes. The number of ordinary shares to be purchased under the Buyback Programme will not exceed 314,658,597 Shares and is therefore within the 2022 AGM approved limit.

Details of the authority granted at the 2022 AGM can be found on our website under: https://investors.baesystems.com/~/medi ... g-2022.pdf



https://www.investegate.co.uk/bae-syste ... 30016819G/

Ian.

idpickering
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Re: BAE Systems (BA)

#570422

Postby idpickering » February 23rd, 2023, 7:24 am

Preliminary Announcement 2022.

Financial highlights

- Record Order intake of £37.1bn propelled Order backlog to £58.9bn.

- Sales increased by 4.4%1 to £23.3bn.

- Expanded Return on sales by 20bps1 , to 10.7%.

- Underlying earnings per share increased by 9.5%1 to 55.5p.

- Free cash flow of £2.0bn exceeded expectations.

- Increased investment in capital expenditure and R&D.

- Share repurchases totalling £0.8bn in the year.

- Dividend increased by 7.6%.

And later;

After the balance sheet date, the directors proposed a final dividend of 16.6p per ordinary share. The dividend proposed amounts to approximately £511m, although the final payment is likely to be lower as a result of the impact of share buybacks. The dividend, which is subject to shareholder approval, will be paid on 1 June 2023 to shareholders registered on 21 April 2023. The ex-dividend date is 20 April 2023.

Shareholders who do not at present participate in the Company's Dividend Reinvestment Plan and wish to receive the final dividend in shares rather than cash should complete a mandate form for the Dividend Reinvestment Plan and return it to the registrars no later than 5 May 2023.


https://www.investegate.co.uk/bae-syste ... 00067701Q/

Ian (I hold).


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