Swedish defense company Saab said third-quarter order bookings reached SEK 65.825 billion, up 216% year over year, lifting its backlog to SEK 364.223 billion as defense demand extended across aircraft and naval systems.
Bookings compared with SEK 20.861 billion a year earlier, and Saab reported a book-to-bill ratio of 3.2. Among the disclosed contracts, Saab listed 16 Gripen E aircraft for Ukraine at SEK 24.6 billion, two GlobalEye surveillance aircraft for a customer it did not name at SEK 10.1 billion, and SEK 8.7 billion in equipment for German Navy frigates.
The backlog stood at SEK 364.223 billion on Sept. 30, compared with SEK 274.532 billion at the start of 2026. International markets represented 79% of the total, Saab said.
Sales for the quarter reached SEK 20.553 billion, a 29.5% increase from a year earlier and a 30.6% gain on an organic basis. Operating profit rose 42% to SEK 1.945 billion, and the operating margin was 9.5%, up from 8.7%. Reuters reported that the profit exceeded the SEK 1.91 billion average analyst forecast in an LSEG poll.
Net income rose to SEK 1.432 billion from SEK 975 million. Operational cash flow climbed to SEK 6.785 billion, compared with SEK 142 million in the same quarter last year. Saab President and CEO Micael Johansson said organic growth, cash generation and order intake all strengthened during the quarter.
For January through September, bookings increased 123% to SEK 152.461 billion, while sales rose 26.7% to SEK 65.170 billion. Internally funded research and development expenses for the nine-month period grew 47% to SEK 3.7 billion, an increase of SEK 1.2 billion.
Saab cited airspace violations, drone incidents, hybrid threats and ongoing conflicts as factors behind demand for defense capabilities. It said expansion could make revenue, profit and cash flow less predictable, while financing or political factors could postpone some defense orders.
