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BAE Systems plc Preliminary Announcement 2020 Results in brief Financial performance measures as defined by the Group¹ Financial performance measures defined in IFRS² 2020 2019 2020 2019 Sales Underlying EBITA £ 20,862m £ 20,109m Revenue £ 2,132m £ 2,117m Operating profit £ 19,277m £ 18,305m Underlying earnings per share Basic earnings per share £ 1,930m 40.7p £ 1,899m 46.4p excluding one - off tax benefit ( 2019 only ) 46.8p 45.8p including one - off tax benefit ( 2019 only ) 46.8p 50.8p Free cash flow³ excluding £ 1bn pension Net cash flow from operating activities £ 1,166m £ 1,597m contribution ( 2020 only ) £ 1,367m £ 850m including £ 1bn pension contribution ( 2020 only ) £ 367m Net debt £ ( 2,718 ) m Order intake4 Order backlog £ 850m £ ( 743 ) m Order book £ 20,915m £ 18,447m £ 45.2bn £ 45.4bn £ 36.3bn £ 37.2bn Post - employment benefits and dividend 2020 2019 Dividend per share 23.7p 9.4p Dividend per share - in respect of 2019 performance 13.8p Group's share of the net post- employment benefits deficit £ ( 4.5 ) bn £ ( 4.5 ) bn Charles Woodburn , Chief Executive , said : " Thanks to the outstanding efforts of our employees and close cooperation with our customers , suppliers and trades unions , we have delivered a strong set of results against a challenging backdrop of the global pandemic . Throughout 2020 , we focused on keeping our people safe and supporting our communities , whilst continuing to deliver for our customers . " In 2021 , we will continue to drive operational performance , progress our sustainability agenda and invest in high - end discriminating technologies to meet our customers ' priorities , which will ensure we are well positioned to grow the business and contribute to the economic prosperity of the countries in which we operate . " Our financial highlights Financial performance measures as defined by the Group¹ - - Sales increased by £ 0.8bn to £ 20.9bn , a 4 % increase , excluding the impact of currency translation5 . Underlying EBITA increased to £ 2,132m , a 1 % increase on a constant currency basis . Underlying earnings per share increased by 2 % to 46.8p , excluding the impact of the prior year one - off tax benefitб . Free cash flow³ was £ 367m after the impact of the £ 1bn contribution into the UK pension scheme . Excluding this contribution free cash flow was £ 1.4bn . Net debt increased to £ 2,718m , following the £ 1bn bond issuance to fund the UK pension scheme , and the $ 2.2bn ( £ 1.7bn ) acquisitions of the Airborne Tactical Radios and Military Global Positioning System businesses . - Order intake increased to £ 20.9bn . Order backlog of £ 45.2bn . BAE Systems plc Preliminary Announcement 2020 1