A SEK 24.6 billion contract for 16 Gripen E aircraft assigned to Ukraine helped Saab record SEK 65.8 billion in third-quarter orders, more than three times a year earlier and above analysts’ expectations, CNBC reported.
Orders compared with SEK 20.9 billion in the same quarter last year. FactSet had forecast SEK 56.4 billion, CNBC said. Saab reported sales of SEK 20.6 billion, above FactSet’s SEK 20 billion estimate, while earnings before interest and taxes (EBIT) totaled SEK 1.95 billion against a SEK 1.9 billion forecast. CNBC reported Saab shares rose about 2% shortly after the Stockholm market opened as the Stoxx 600 fell 0.4%.
The agreement with the Swedish Defence Materiel Administration (FMV) was signed in June and entered Saab’s third-quarter bookings, CNBC reported. A customer in the Middle East that Saab did not identify placed a SEK 10.1 billion order for GlobalEye surveillance aircraft. Separately, Saab booked SEK 8.7 billion to equip warships for the German Navy, according to CNBC.
Saab’s third-quarter order-book expansion coincided with backlog growth to SEK 364.2 billion on Sept. 30, from SEK 274.5 billion at the start of 2026. CNBC said that was the sixth consecutive quarterly increase. Large orders totaled SEK 52.1 billion after rising more than sixfold; small orders increased 84%, while medium-sized orders fell 16%.
CEO Micael Johansson linked demand for defense capabilities to airspace violations, drone incidents and ongoing conflicts. He said Saab is expanding production capacity and investing to meet customer needs, CNBC reported. Saab’s order growth has continued since Russia’s full-scale invasion of Ukraine in early 2022, according to CNBC. The outlet also reported that some investors have questioned whether defense companies can deliver quickly enough to support recent valuations.
Deliveries of the Ukraine-bound Gripen E aircraft are scheduled for 2029-2030.
