Yossi Gaspar : This is Yossi. Regarding your first question, I think the best indicator to look at is our backdrop of orders. We are close to $16 billion backlog of orders, growing very nice double digit year-over-year. Our revenues have grown year-over-year probably in the mid-single digits, as you can see so far. And we — as we explained in the past, we are making every effort to close the gap between the growth of the backlog and the growth of the revenues, of course, by increasing the revenues. If you look at our press release today, you see that of the $15.8 billion of backlog, about 54% are planned to be transformed in revenues in the next seven quarters. That means this year and next year. Just by making a simple calculation, you will see that we probably will be in the $6-plus billion next year and getting closer to the $7 billion number maybe a year or two years after that.
So this is the range of the top line growth, driven by the backdrop of orders that we already have. So it’s no speculation. It’s just a simple calculation of the backlog transformation. In parallel, as you see in our investors meeting explained, we have initiated all the efforts to build the operational capability to do that, actually to manufacture and deliver to our customers and in the various places in the world, the various facilities, and this is underway. Some of them are completed. Some of will be completed during ’23 and ’24. So all of this would enable us to perform. Regarding — and of course, by growing the top line and by keeping the overhead rates and G&A under control, we expect to return to the level of operating profit that we used to be several years ago.
So this is first question. I believe the second question, I will turn it over to Kobi to respond.
Kobi Kagan : Thank you, Yossi, and hi, Atinç. As Yossi explained, we are currently in the process of building our infrastructure to support the transformation of backlog to revenues. This is involved with CapEx investments. In terms of specifics, the South Carolina facility is almost finished. We actually started working there, and most of the investment there is done. The one ERP investment is also in process of conclusion. We hope that the last big division will go live at the 1st of July this year. And we are still in the cycle of CapEx investments in the Ramat Beka-Negev Desert, South of Israel ammunition plant to actually have all the facilities that will be relocated from the Ramat HaSharon facility to the Negev facility. So we are expecting a modest decline in CapEx investment due to the conclusion of the — mainly of the ERP system, but we still invest heavily in our production capacity in order to having the backlog-transformed revenue.
Atinc Ozkan: Okay. Crystal clear. And I may follow-up just with a very short question regarding Aerospace segment. I do remember that you guys have now additional capacity put into operation in your production line for drones in Israel. Is it possible to basically tell us what the waiting line, if a client comes and orders you? I don’t know, it does no drones right now. Just to give you an example from your unlisted peer in Turkey, Baykar has now a three-year waiting line for drones. I’m just trying to have an idea whether you have the same kind of bottleneck.
