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Johannesburg - Manufacturer of defence, security and
aerostructures products Denel has R21bn on its order book and is pursuing
R44bn in contracts, it said on Tuesday.
"(The) total order book - including confirmed contracts -
already exceed R21bn, which includes the SA National Defence Force's contract
Project Hoefyster for the delivery of a new generation infantry combat
vehicle," said Zwelakhe Ntshepe, group chief executive: business
development and corporate affairs.
Denel is pursuing contracts to the value of R44bn.
The state-owned company released its annual results earlier
this month showing a net profit of R111m - returning to the black for the first
time since 2001, it said.
About R5bn in contracts were concluded shortly after year-end, including the largest export order ever secured in Denel's history,
Ntshepe said.
"The company intends to grow the opportunities to R70bn
and ensure the conversion of at least R21bn of this into confirmed orders over
the next three years."
Denel plans to confirm R14bn in contracts this year.
The company's primary mandate is to provide strategic
defence technology, products and services to the SA National Defence Force.
However, a more concerted focus on export markets -
particularly the Middle East and the Asia-Pacific region - has led to almost
80% of new business prospects coming from international clients.
Denel regards Africa as having significant growth
potential.
