Defence prime Saab has reported a 216% surge in third quarter (Q3) order bookings for fiscal 2026 (FY26), driven by major aircraft and naval systems contracts.
The company’s bookings for the quarter totalled Skr65.83bn ($6.63bn), including a Skr24.6bn contract to supply 16 Gripen E fighter aircraft to Ukraine, a Skr10.1bn order for two GlobalEye surveillance aircraft to an undisclosed customer, and a Skr8.7bn contract to equip Germany’s new MEKO A-200 DEU-class frigates.
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Large orders accounted for Skr52.12bn of the quarterly total, compared with Skr8.32bn in the same period last year. Small orders increased to Skr5.76bn from Skr3.12bn, while medium-sized orders fell to Skr7.95bn from Skr9.42bn.
Last month, Saab secured a Skr2.9bn order from the Swedish Defence Materiel Administration to advance concept work on Sweden’s future fighter system, following the unveiling of its A3-001 uncrewed combat air system at the Jubilee Air Show in Linköping.
For the first nine months of 2026, Saab’s order bookings reached Skr152.46bn, compared with Skr68.41bn in the corresponding period.
The order backlog stood at Skr364.22bn at the end of the period, compared with Skr274.53bn at the start of the year. International markets accounted for 79% of the backlog, up from 73%.
Sales reached Skr20.55bn in Q3, representing organic growth of 30.6%, compared with 18.3% in the prior-year period.
Saab reported nine-month sales of Skr65.17bn, a 26.7% increase from the prior year period, driven by double-digit sales growth across all businesses, with Surveillance making a particularly strong contribution.
Sales outside Sweden represented 60% of the total, compared with 57% a year earlier.
The company’s earnings before interest and taxes (EBIT) rose 42% to Skr1.95bn, while the EBIT margin increased to 9.5%.
Net income for Q3 also climbed to Skr1.43bn, up 47% from Skr975m in the same period last year. Earnings per share reached Skr2.57.
Gross margin rose to 23.4% for the quarter, which the company attributed primarily to a shift in business mix favouring Surveillance-related sales.
Saab president and CEO Micael Johansson said: “We delivered a quarter marked by high organic sales growth, significantly increased cash flow and strong order bookings. The growing customer demand is reflected in major contract awards, including Gripen for Ukraine, GlobalEye and an order related to Germany’s new frigates.
“We continue to invest in future capabilities and expand capacity, while our strong order backlog and programme progress position us well for continued growth.”
Last month, the company announced changes to its Group Management team. From 1 October, Anders Carp became head of the Dynamics business area while retaining his role as deputy chief executive.
Görgen Johansson, the former head of Dynamics, left the Group Management team to become strategic adviser for global operational growth and expansion, reporting to Saab’s president and chief executive.
Marcus Wandt, previously head of Group Strategy and Technology, became head of Aeronautics while remaining on the Group Management team.
