Swedish defense manufacturer Saab reported higher-than-expected third-quarter operating earnings of 1.19 billion crowns, surpassing last year’s 859 million and analyst predictions of 1.14 billion. The company reaffirmed its forecast for strong sales growth, expecting a 15-20% organic rise in 2024, with earnings increasing at an even higher rate. Saab benefits from the global demand for military hardware, driven by tensions such as Russia’s war in Ukraine, and Sweden’s NATO accession. Its order bookings rose by 41% year-on-year, with a growing order backlog of 190 billion crowns. Saab is cooperating with a U.S. Department of Justice request regarding Brazil’s 2014 Gripen fighter jet purchase, a deal previously cleared of wrongdoing by Swedish and Brazilian investigations.
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