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Defense: Swedish Saab makes profits

Sales growth of up to +16% expected in 2024

The Swedish Saab Group, specialized in the automotive and defense sectors, has communicated its financial data for the fourth quarter of 2023. The data shows an increase in operating profit to 135.6 million dollars, equal to +8% on an annual basis. It is a performance that confirms the trend of the last two years, benefiting from the increase in military spending by many states after the Russian military invasion in Ukraine, which tripled the value on the stock market. 

"We believe that a further increase in investment is attractive and crucial, as this will support our long-term growth and value creation", said the Swedish company's CEO Micael Johansson.

In the last quarter, orders increased by +5% compared to the same period in 2022, reaching 3 billion dollars. As regards the annual trend, the order book increased by +20% to 14.6 billion dollars. This performance is driven above all by the sale of missile systems, land combat weapons, air surveillance and naval combat systems. Sales growth of 12%-16% is expected in 2024 (it was +22.6% in 2023) and around +15% in the period 2023-2027.

On the same topic, see also the article published by AVIONEWS.

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AVIONEWS - World Aeronautical Press Agency