Swedish defence group Saab's profit beats forecast as sales soar
Swedish defence group Saab's profit beats forecast as sales soar
By Johan Ahlander Fri, October 23, 2026 at 6:07 AM UTC
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By Johan Ahlander STOCKHOLM, Oct 23 (Reuters) - Swedish defence and aerospace group Saab reported on Friday a bigger-than-expected rise in third-quarter profit on the back of soaring sales as it
By Johan Ahlander
STOCKHOLM, Oct 23 (Reuters) - Swedish defence and aerospace group Saab reported on Friday a bigger-than-expected rise in third-quarter profit on the back of soaring sales as it continued to ride a wave of global rearmament.
Operating profit at the maker of the Gripen fighter jet rose to 1.95 billion crowns ($197 million) from 1.37 billion a year earlier, against a 1.91 billion mean forecast in an LSEG poll of analysts.
"The long-term market outlook remains favourable," CEO Micael Johansson said in a statement. "With a strong portfolio, a record high order backlog, expanding production capacity and continued investment in future capabilities, we are well positioned to achieve our financial targets," he said.
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Saab, which also makes military equipment ranging from missiles and advanced electronics to submarines, said in a statement that like-for-like sales rose 30.6% year-on-year.
Already riding consecutive years of surging demand driven by rapid rearmament across much of Europe due to Russia's war in Ukraine, the pace has picked up further for Saab this year with a string of huge orders.
Saab, which competes with giants such as US-based Lockheed Martin, France's Dassault Aviation and Britain's BAE Systems, said order bookings soared 216% year-on-year in the quarter, including a 24.6 billion crown Gripen order from Ukraine.
(Reporting by Johan Ahlander, editing by Anna Ringstrom and Stephen Coates)
Source: “AOL Money”
