The Swedish defense company Saab reported stronger third-quarter sales and operating profit, while a contract for 16 Gripen E aircraft for Ukraine helped push order bookings to more than three times their year-earlier level.
Orders totaled SEK 65.825 billion, up from SEK 20.861 billion in the same quarter a year earlier. Sales reached SEK 20.553 billion, rising 29.5% on a reported basis and 30.6% organically. Operating profit, or earnings before interest and taxes (EBIT), increased 42% to SEK 1.945 billion. Saab linked the sales and operating-income gains to more deliveries and effective execution.
Large orders accounted for SEK 52.12 billion, an increase of 526% from a year earlier, and made up most of the quarter's total bookings. The smaller order segment grew 84%, while medium-sized orders declined 16%. Alongside the Ukraine aircraft contract, Saab recorded a SEK 10.1 billion order for two GlobalEye aircraft for an unnamed customer and a SEK 8.7 billion order to equip four German Navy frigates.
Saab's backlog stood at SEK 364.223 billion on Sept. 30, compared with SEK 274.532 billion at the start of the year. International markets represented 79% of the backlog. The results add financial context to the Ukraine contract's effect on Saab's order intake, which EconoTimes covered previously.
Saab signed the Gripen agreement with the Swedish Defence Materiel Administration (FMV) on June 30. Ukraine's presidential office said an European Union loan, with support from the United Kingdom, will finance the purchase. Saab's announcement schedules deliveries to FMV for 2029-30.
