Swedish Defense Group Saabin Operating profit was SEK 654 million in January – March. In the comparison period a year ago, operating income was SEK 597 million.
According to a consensus analysis compiled by Infront, analysts expected the company to adjust its operating profit by SEK 607 million, says Dagens Industri.
The operating profit margin was 7.1 percent, compared to 6.6 percent a year ago.
Earnings per share were SEK 2.66. In the comparison period, earnings per share amounted to SEK 2.94.
Net sales for the first quarter were SEK 9,218 million. A year ago, revenue was SEK 9,088 million.
The company collected new orders worth SEK 8,115 million. Last year, order intake was SEK 5,871 million. The value of orders increased by 38 percent.
Managing director Micael Johansson estimates that Russia’s invasion of Ukraine has changed Europe’s security environment.
“This has led to structural changes in many countries, including Sweden, Germany, the UK and Finland, which have announced they will increase their defense budgets in the coming years. Saab is well positioned to support the growing needs of its customers, ”says Johansson.
At the same time, however, he stresses that due to the nature of the defense industry, it takes time for opportunities to materialize into orders.