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Saab’s quarterly orders more than triple as it expands capacity

Saab’s third-quarter order bookings reached 65,825 million Swedish kronor, more than triple the year-earlier figure. Orders included Gripen aircraft for Ukraine and systems for German frigates. Sales, operating profit and operational cash flow increased. Management said it was continuing investment in production capacity as customer demand generated major contracts.

Economics & Markets··Midday
An unmarked fighter aircraft under assembly in a bright hangar.

Major contracts lift quarterly bookings

Swedish defence and security company Saab increased third-quarter sales from 15,871 million to 20,553 million Swedish kronor. Organic sales growth, excluding acquisition and currency effects, rose from 18.3 per cent to 30.6 per cent. Orders for Gripen aircraft and frigate systems featured in the quarterly results.[1], [2]

Quarterly bookings reached 65,825 million kronor, against 20,861 million kronor a year earlier. They included 24.6 billion kronor for Gripen E aircraft for Ukraine and 8.7 billion kronor for systems for Germany’s new frigates.[1]

Operating profit grows faster than sales

Operating profit rose 42 per cent to 1,945 million kronor from 1,374 million kronor. The operating margin increased from 8.7 per cent to 9.5 per cent. Net income climbed from 975 million to 1,432 million kronor, while earnings per share rose from 1.77 kronor to 2.57 kronor.[1]

Capacity investment continues

Operational cash flow increased from 142 million to 6,785 million kronor. Chief executive Micael Johansson linked major contract awards to rising customer demand and said investment in future capabilities and production capacity continued. Saab develops and maintains aircraft, weapons, sensors, command-and-control and underwater systems.[1]

References

  1. News sourceSaabSaab’s third-quarter order bookings more than triple↩1↩2↩3↩4
  2. News sourceDefence NordicSaab’s nine-month order bookings rise 123 percent↩
Chip wars and the supply chainRussia-Ukraine warCentral banks and the rate cycleEnergy transition and climate

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