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BAE Systems (BA) investor relations material

BAE Systems Trading Update summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Trading Update summary12 Nov, 2025

Operational and financial performance

  • Strong operational and financial results support full-year guidance, consistent with the July upgrade.

  • Trading in the second half of the year is in line with expectations, with robust delivery of critical capabilities.

  • Order backlog and pipeline provide good visibility for long-term growth.

  • Portfolio aligns with national defence strategies and benefits from increased NATO spending.

Guidance and outlook

  • 2025 guidance unchanged from July upgrade: sales growth of 8–10%, EBIT up 9–11%, EPS up 8–10%, and FCF over £1.1bn.

  • Guidance based on a GBP:USD rate of $1.28:£1; a 5 cent movement impacts sales by ~£525m.

  • Preliminary results for 2025 will be announced on 18 February 2026.

Order intake and major contracts

  • Over £27bn in orders secured in 2025, including £4.0bn for Typhoon aircraft for Türkiye and $3.3bn in Electronic Systems.

  • $1.7bn in US combat vehicle funding and £1.1bn in MBDA orders.

  • £0.9bn for Dreadnought programme; substantial Type 26 frigate order expected post-2025.

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Frequently asked questions

BAE Systems plc is a multinational defense, security, and aerospace company providing products and services in air, land, sea, cyber, and space domains. The company serves government and commercial customers with solutions including military aircraft, submarines, cybersecurity, and electronics systems. BAE Systems operates globally with key markets in the United States, United Kingdom, and Australia. The company is headquartered in London, United Kingdom, and its shares are listed on the LSE.

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