STOCKHOLM, April 23 (Xinhua) -- Swedish defense manufacturer Saab on Thursday reported strong first-quarter (Q1) results for 2026, with sales and operating profit rising sharply, although new orders declined slightly from a year earlier.
Saab's sales in January-March rose 23.6 percent year-on-year to 19.16 billion Swedish kronor (2.1 billion U.S. dollars), up from 15.79 billion kronor (1.74 billion dollars) in the same period of 2025. Operating profit increased 32 percent to 1.92 billion kronor (211 million dollars), according to the company's financial report.
New orders totaled 18.24 billion kronor (2 billion dollars) in the first quarter, compared with 19.14 billion kronor (2.1 billion dollars) a year earlier. Saab said the slight decline reflected strong growth in medium-sized orders, while fewer large orders were booked during the quarter.
Saab said interest in its Gripen E/F fighter aircraft remained strong, with several potential procurement campaigns still underway. In Saab's naval business, orders rose 54 percent, driven mainly by submarine-related bookings, while orders in its surveillance business increased 21 percent. Major contracts during the quarter included an order for counter-unmanned aerial systems for Sweden.
Saab said it is scaling up production to meet rising demand from Europe and other markets as defense spending continues to increase amid the Russia-Ukraine conflict and tensions in the Middle East.
Saab President and CEO Micael Johansson said Saab's supply chains has not so far been affected by the conflict in the Middle East, adding that demand from the region for the company's missile and drone detection sensors remain high.
Saab is a Swedish defense and security company whose business includes aeronautics, weapons, command and control, sensors and underwater systems. Headquartered in Sweden, it operates internationally, and its products and services are used by several countries as part of their defense capabilities. ■
