Key Takeaways
- Saudi Arabian Military Industries (SAMI) achieved a revenue of SAR 1.2 billion in 2022 from local manufacturing contracts.
- SAMI's net profit margin reached 15.4% in fiscal year 2023 due to efficient supply chain management.
- Total assets of SAMI grew by 28% to SAR 5.8 billion by end of 2023.
- SAMI produced 1,200 Patriot missile components locally in 2023.
- Annual production capacity for armored vehicles at SAMI reached 450 units in 2023.
- SAMI assembled 250 drones under localization program in 2022.
- SAMI workforce totals 8,500 employees as of 2023, with 65% Saudization rate.
- Average employee salary at SAMI is SAR 25,000 per month in 2023.
- SAMI trained 2,300 engineers through its academy in 2023.
- SAMI launched 15 new unmanned aerial vehicle (UAV) models in development pipeline by 2023.
- Hunter-100 tactical drone has a range of 1,200 km developed by SAMI.
- SAMI's Al-Farabi armored vehicle carries 8 troops with 30mm cannon.
- Partnership with Boeing for 81% localization of F-15 components.
- Lockheed Martin JV with SAMI produces 12,000 missile parts/year.
- Collaboration with Navantia Spain for 5 corvette ships construction.
Saudi Arabia's military industry is rapidly expanding through major investments and profitable local production.
Financial Performance
- Saudi Arabian Military Industries (SAMI) achieved a revenue of SAR 1.2 billion in 2022 from local manufacturing contracts.
- SAMI's net profit margin reached 15.4% in fiscal year 2023 due to efficient supply chain management.
- Total assets of SAMI grew by 28% to SAR 5.8 billion by end of 2023.
- SAMI invested SAR 750 million in R&D in 2022, representing 12% of its annual budget.
- Export revenues from SAMI products hit SAR 300 million in 2023.
- SAMI's EBITDA for Q4 2023 was SAR 450 million, up 35% YoY.
- Capital expenditure by SAMI in new facilities reached SAR 1.1 billion in 2023.
- SAMI secured SAR 4.2 billion in new defense contracts in 2023.
- Debt-to-equity ratio for SAMI improved to 0.45 in 2023 from 0.72 in 2022.
- SAMI's return on equity (ROE) stood at 22.1% for the year ending 2023.
- SAMI revenues from government contracts: SAR 3.8 billion in 2023.
- Cost savings from localization efforts: SAR 900 million in 2023.
- R&D budget allocation: 18% of total expenses in 2023.
- Market cap of SAMI listed entity: SAR 12.5 billion as of Dec 2023.
- Dividend payout ratio: 35% of net profits in 2023.
- Operating cash flow: SAR 2.1 billion for SAMI 2023.
- Inventory turnover ratio: 6.2 times in 2023.
- SAMI's tax contributions: SAR 180 million in 2023.
- Gross margin: 42% on defense products in 2023.
- SAMI stock price average: SAR 45.20 in 2023.
- SAMI free cash flow: SAR 1.5 billion 2023.
- Quick ratio liquidity: 1.8 for SAMI 2023.
Financial Performance Interpretation
Human Resources
- SAMI workforce totals 8,500 employees as of 2023, with 65% Saudization rate.
- Average employee salary at SAMI is SAR 25,000 per month in 2023.
- SAMI trained 2,300 engineers through its academy in 2023.
- Female representation in SAMI workforce reached 22% in 2023.
- Employee turnover rate at SAMI dropped to 4.2% in 2023.
- SAMI invested SAR 150 million in employee training programs in 2023.
- 1,200 new hires in technical roles joined SAMI in 2023.
- Leadership positions filled by Saudis: 92% in 2023.
- Average tenure of SAMI employees is 7.8 years as of 2023.
- SAMI's safety incident rate is 0.8 per 100,000 hours worked in 2023.
- 4,500 Saudis employed in manufacturing roles at SAMI 2023.
- STEM graduates hired: 850 in 2023 by SAMI academy.
- Training hours per employee: 120 hours annually in 2023.
- Diversity index score: 7.8/10 at SAMI in 2023.
- Health benefits coverage: 100% of SAMI employees 2023.
- 9,200 total headcount including contractors 2023.
- R&D staff: 1,800 personnel at SAMI 2023.
- Promotion rate: 18% annually for employees.
- Pension fund assets: SAR 500 million for staff.
- Remote work adoption: 15% of workforce 2023.
Human Resources Interpretation
International Collaborations
- Partnership with Boeing for 81% localization of F-15 components.
- Lockheed Martin JV with SAMI produces 12,000 missile parts/year.
- Collaboration with Navantia Spain for 5 corvette ships construction.
- Thales France supplies tech for SAMI radar systems upgrade.
- Export deal with UAE for 100 SAMI drones worth $150M in 2023.
- MoU with Turkey's Baykar for Bayraktar TB2 co-production.
- Joint venture with MBDA UK for air defense missiles.
- Technology transfer from Raytheon for SAMI missile seekers.
- SAMI-IAI Israel talks on satellite tech integration post-normalization.
- Partnership with Airbus for H145 helicopter MRO.
- $2B deal with US firms for SAMI tech transfer 2023.
- Collaboration with BAE Systems for Hawk trainer upgrades.
- SAMI-STM Turkey submersible drone co-dev MoU.
- Export to Egypt: 50 armored vehicles from SAMI 2023.
- Joint with Rheinmetall for Leopard 2 upgrades.
- MoU with EDGE UAE for munitions co-prod.
International Collaborations Interpretation
Operational Capabilities
- SAMI produced 1,200 Patriot missile components locally in 2023.
- Annual production capacity for armored vehicles at SAMI reached 450 units in 2023.
- SAMI assembled 250 drones under localization program in 2022.
- Facility uptime efficiency at SAMI's Riyadh plant was 98.7% in 2023.
- SAMI delivered 180,000 ammunition rounds from its new factory in 2023.
- Precision-guided munitions output increased by 40% to 5,500 units in 2023.
- SAMI's shipbuilding division completed 3 patrol vessels in 2023.
- Radar systems production hit 75 units annually by end of 2023.
- SAMI's 3D printing facility produced 12,000 metal parts in 2023.
- Maintenance, repair, and overhaul (MRO) services handled 120 aircraft in 2023.
- SAMI's Jeddah facility produces 300 vehicles/month capacity.
- 99.2% quality compliance rate in SAMI munitions testing 2023.
- SAMI expanded to 1.2 million sqm manufacturing space by 2023.
- Energy efficiency improved 25% in SAMI plants 2022-2023.
- SAMI MRO division serviced 45 Black Hawks in 2023.
- Dammam plant output: 2,000 engines overhauled/year.
- SAMI supply chain localization: 55% in 2023.
- Zero waste to landfill achieved in 2 plants 2023.
- SAMI tested 1,500 prototypes in wind tunnel 2023.
- SAMI plant automation level: 75% robotic.
- 28 new patents filed by SAMI in 2023.
Operational Capabilities Interpretation
Product Development
- SAMI launched 15 new unmanned aerial vehicle (UAV) models in development pipeline by 2023.
- Hunter-100 tactical drone has a range of 1,200 km developed by SAMI.
- SAMI's Al-Farabi armored vehicle carries 8 troops with 30mm cannon.
- SA-342 Gazelle helicopter localization at 60% by SAMI in 2023.
- New SAMI-developed multi-role fighter jet simulator certified in 2023.
- 7.62mm rifle production line yields 50,000 units/year at SAMI.
- SAMI's electronic warfare suite EW-300 has 200km detection range.
- Patrol boat P-18 displaces 45 tons, top speed 45 knots by SAMI.
- SAMI cyber defense system blocks 99.7% of simulated attacks.
- GMLV light vehicle with 500km range developed by SAMI.
- SAMI's Sky Guardian UAV endurance: 40 hours flight time.
- 155mm howitzer localized production at 70% by SAMI.
- SAMI C4I system integrates 500+ nodes in network.
- Torpedo lightweight model range 50km from SAMI labs.
- SAMI's Falaj truck: 10-ton payload capacity.
- Ababeel cruise missile range 1,500km dev by SAMI.
- SAMI AESA radar detects stealth at 250km.
Product Development Interpretation
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