Swedish defense company Saab reported a strong third quarter, with a 41% increase in orders driven by high demand across all business sectors and an anticipated 15-20% sales growth in 2024. CEO Micael Johansson highlighted the need for European nations to replenish defense stocks, contributing to robust international sales, which made up 80% of Q3 orders, with notable growth in the Dynamics sector. Saab is scaling up production through investments in capacity and automation while delivering growth and improved profitability. While Aeronautics sales rose 6% over Q3 2023, production challenges with the T-7 trainer aircraft in the U.S. continue to impact performance, though key Gripen E fighter jet deliveries proceeded for Sweden and Brazil, with additional interest from Thailand, Colombia, and Peru. Peru recently confirmed plans to acquire 24 fighter jets, with Saab competing for the contract, and Johansson expressed optimism for Saab’s potential role in this acquisition.
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