Saab profit rises, sees sales growth at upper end of forecast range
Saab Q3 op profit 1.19 bln SEK vs forecast 1.14 bln
Order intake rises 41% yr/yr in quarter
Sees 2024 organic sales growth at upper end of 15-20% range
Adds detail, background, CEO comment in paragraphs 5-9
By Niklas Pollard
STOCKHOLM, Oct 22 (Reuters) -Swedish defence material maker Saab SAABb.ST on Tuesday reported a slightly bigger-than-expected rise in third-quarter operating earnings and affirmed its outlook for surging sales and profits this year as countries scramble to re-arm.
The company reported quarterly operating earnings of 1.19 billion Swedish crowns ($112.8 million) versus a year-ago 859 million and analyst expectations of 1.14 billion, according to a LSEG mean forecast based on three estimates.
The maker of military hardware such as missiles, advanced electronics, submarines and the Gripen fighter jet repeated its forecast for sales to grow organically by 15-20% in 2024 while operating earnings were seen rising even more.
However, it added that it expected organic sales growth to come in at the upper end of the range.
The company, which competes with defence giants such as U.S. Lockheed Martin LMT.N, France's Dassault Aviation AM.PA and Britain's BAE Systems BAES.L, is riding an industry-wide boom in demand as soaring global tensions, not least due to Russia's war in Ukraine, fuel rapid rearmament.
Sweden's NATO accession is also expected to benefit Saab, which said order bookings rose 41% year-on-year in the quarter with its backlog of orders growing to 190 billion crowns from 139 billion at the same point a year ago.
"Deliveries and activity level across our businesses are high and will continue in the fourth quarter," Saab CEO Micael Johansson said in a statement.
The U.S. Department of Justice has requested information from a subsidiary of Saab over Brazil's purchase of the Swedish firm's Gripen fighter jets in 2014, which was the subject of a Brazilian corruption probe, the company said earlier this month .
Saab repeated it would comply with the request and that previous Swedish and Brazilian investigations into the deal had showed no wrong-doing by Saab.
($1 = 10.5483 Swedish crowns)
Reporting by Niklas Pollard, editing by Terje Solsvik
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
