Saab reports record order backlog as European rearmament orders more than double
Europe's rearmament is now visible on one balance sheet. Saab's order backlog hit a record 317.7 billion Swedish crowns in Q2, up from 197.6 billion a year earlier, a fifth straight quarter of growth, with new orders more than doubling. Per CNBC and Saab.
The scale of Europe's rearmament is now readable on a single company's books. Swedish defense group Saab reported a record order backlog of 317.7 billion Swedish crowns for the quarter that ended in June, up from 197.6 billion a year earlier. It was the fifth consecutive quarter of a growing order book. Operating earnings rose to 2.79 billion crowns from 1.98 billion a year earlier, beating the 2.48 billion crown mean forecast in an LSEG poll of analysts, as new orders more than doubled. Like-for-like sales rose 29.8 percent year on year. Poland awarded Saab a 47 billion crown contract for three A26 submarines, described as the largest export order in the company's naval history, and Saab said the first batch of a 25 billion crown Gripen fighter deal with Ukraine had been delivered. Sources: CNBC, Saab press release.