Swedish protection firm Saab beat earnings expectations within the second quarter, as booming demand for navy gear propelled the fighter jet maker to a different quarter of document orders backlog.
New order bookings within the quarter ended June had been 68.4 billion Swedish crowns ($7.1 billion), above the FactSet estimates of 57.1 billion Swedish crowns, which included a Polish submarine deal price 47 billion crowns.
The whole backlog amounted to 317.7 billion crowns, up from 197.6 billion a yr in the past and marking a fifth consecutive quarter of order guide progress.
It comes as European governments ramp up protection spending, driving up guide orders with the area’s firms.
“We function in a market with structurally rising demand and stay targeted on scaling capability, delivering to prospects, and advancing new capabilities,” stated Saab CEO Micael Johansson in a press release.
Gross sales got here in at 25.5 billion crowns, beating FactSet estimates of 23.9 billion crowns, whereas working revenue (EBIT) was 2.8 billion crowns, in comparison with expectations of two.4 billion crowns.
That is breaking information. Please refresh for updates.
