In the second quarter, Swedish defense company Saab reported new order bookings of 68.4 billion Swedish crowns ($7.1 billion), significantly surpassing FactSet estimates of 57.1 billion crowns. This includes a notable Polish submarine deal valued at 47 billion crowns.
The total order backlog reached 317.7 billion crowns, a substantial increase from 197.6 billion crowns a year prior, marking the fifth consecutive quarter of growth in orders. Saab's sales for the quarter were 25.5 billion crowns, exceeding expectations of 23.9 billion crowns, while operating profit (EBIT) was reported at 2.8 billion crowns, above the anticipated 2.4 billion crowns.
CEO Micael Johansson emphasized the company's focus on scaling capacity and advancing new capabilities in a market characterized by structurally growing demand, reflecting the broader trend of increased defense spending among European governments