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    BA.   GB0002634946


Delayed London Stock Exchange  -  11:35 2022-11-29 am EST
810.40 GBX   -0.15%
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BAE Systems wins U.S. Army's CATV competition, receives $278 million contract; A Beowulf vehicle viewed from the front as it drives through snow-covered woods

08/23/2022 | 11:21am EST

BAE Systems' Beowulf has won the U.S. Army's competition for its Cold Weather All-Terrain Vehicle (CATV) program and the company has received a $278 million contract for production units, spare parts and contractor logistics support.

The win further confirms BAE Systems as the industry leader in the design and production of military all-terrain vehicles for operations in harsh terrains and in the toughest weather conditions.

Beowulf is an unarmored, tracked, and highly versatile vehicle for carrying personnel and a variety of payloads in either of its two compartments. Beowulf can traverse snow, ice, rock, sand, mud, and swamp conditions, and can operate in steep mountain environments. Its amphibious feature also allows it to swim in flooded areas or coastal waters. This marks the first sale of Beowulf, which is based on its sister BvS10 armored variant in service with several European nations.

As the focus on Arctic Mobility operations grows, we see increasing opportunities in other markets for the BvS10 and Beowulf with an emerging demand to replace legacy BV206s.

'Beowulf is a highly capable solution to meet the US Army's requirement for Arctic operations. We look forward to providing our soldiers operating in challenging terrain and environments with this highly capable vehicle,' said Mark Signorelli, vice president of business development at BAE Systems Platforms & Services. 'We have been maturing and modernizing cold weather all-terrain capabilities for decades, bringing advanced capabilities to the United States and numerous other countries. This contract means we will continue to do so for many years to come.'

Beowulf's articulated mobility system is key to its effectiveness, providing optimal maneuverability across varying surfaces. Its modular design can be reconfigured for multiple missions, such as logistical support, disaster and humanitarian relief, search and rescue, and other missions as required.

Its large windows and spacious cabin make Beowulf suitable to the tasks for the CATV program, including search and rescue, defense support to civilian authorities, and homeland defense. Its modern, commercial design ensures soldiers' operational effectiveness in executing a wide variety of difficult missions.

Beowulf successfully completed the prototype evaluation phase of the CATV program earlier this year in Alaska. It performed in multiple tasks while remaining fully mission capable. The testing included amphibious operations, navigating terrain with varying levels of complexity, starting and operating in extreme cold weather, and most critically, user assessment by soldiers.

Beowulf is built by BAE Systems Hagglunds in northern Sweden, adding firsthand experience in operating in an arctic environment. The platform includes several key components from U.S. suppliers, such as its engine, transmission, and hydraulic system. The CATV program will replace the legacy fleet of Small Unit Support Vehicles (SUSVs), also built by BAE Systems Hagglunds, and known internationally as the BV206. The BV206 has been in service globally, including with the U.S. Armed Forces, since the early 1980s.

(C) 2022 Electronic News Publishing, source ENP Newswire

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Sales 2022 22 924 M 27 446 M 27 446 M
Net income 2022 1 523 M 1 823 M 1 823 M
Net Debt 2022 2 862 M 3 427 M 3 427 M
P/E ratio 2022 16,6x
Yield 2022 3,27%
Capitalization 24 985 M 29 914 M 29 914 M
EV / Sales 2022 1,21x
EV / Sales 2023 1,14x
Nbr of Employees 91 400
Free-Float 92,9%
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Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 17
Last Close Price 810,40 GBX
Average target price 922,09 GBX
Spread / Average Target 13,8%
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Charles Nicolas Woodburn Group Chief Executive Officer & Director
Brad Greve Group Finance Director & Director
Roger M. Carr Chairman
Julian Frederick Charles Cracknell Chief Technology & Information Officer
Marc Gomes Casseres Vice President-Operations
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