View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
April 25, 2022

Sweden’s Saab reports strong order intake in Q1 2022

The company’s net sales for the quarter were Skr9.22bn ($960m).

Swedish aerospace and defence company Saab has reported a 38% year-on-year (YoY) increase in order intake to $840m (Skr8.12bn) in the first quarter of 2022.

The figure was $610m (Skr5.87bn) in the same period last year.

The increase was primarily attributed to medium-sized orders across key business areas. Saab’s international order bookings also increased.

The company’s order backlog also grew to $10.87bn (Skr104.54bn) in Q1 2022, from $10.11bn (Skr97.2bn) reported in Q1 2021.

The company said that it will seek to gradually increase its capacity in order to meet the rise in demand.

Saab’s net sales for the period were $960m (Skr9.22bn), up 1% compared to $950m (Skr9.09bn) recorded in Q1 2021.

The company’s quarterly operating income (EBIT) increased 10% YoY to $68m (Skr654m). Gross income also increased by 5%, from $200m (Skr1.93bn) in Q1 2021, to $210m (Skr2.03bn) in Q1 2022.

The Swedish firm’s net income fell by 6% to $38.68m (Skr372m) in the first quarter of this year, from $41.18m (Skr396m) posted in the year prior.

Saab president and CEO Micael Johansson said: “In the first quarter of the year, we continued to see strong interest in Saab’s portfolio, particularly in Dynamics and Surveillance. Order intake increased by 38%, driven by medium-sized orders across most business areas. Order intake in our international markets increased by 78%.

“Dynamics received orders for training systems to the US and Finland, and Surveillance received a contract for a civil security solution in Australia. At Kockums, a large contract from Sweden for the mid-life upgrade of the third Gotland-class submarine was received.”

Earlier this month, Saab secured a $16.2m contract to supply combat training simulators to the Finnish Defence Forces.

Related Companies

Free Buyer's Guide
img

Top Guide to the Suppliers of Antennas, Masts & Towers

The download contains detailed information on the suppliers and their product lines, alongside contact details to ease your buying decision.
by VMS Engage – Buyer’s Guide
Enter your details here to receive your free Buyer's Guide.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The defence industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Army Technology