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Industry

Saab Q3 revenues drop year on year, but orders up 22%

23 October 2018

Saab has reported a year-on-year drop in revenues in the first three quarters of 2018, although the wider effect was cushioned due to increased business on the Gripen E programme.

Orders totalled SEK4.51 billion (USD501,530) in the third quarter of 2018, up on the SEK3.7 billion reported in the same quarter of 2017, representing a 22% increase.

Saab claims that medium-sized orders grew the most over this period in the aeronautics and surveillance business lines, which reported a respective 43% and 6% increase in orders, adding that Gripen contracts for Brazil and Sweden were received during this timeframe.

However, year-on-year order bookings for the first nine months of 2018 were down by 29%, from SEK24.25 billion in 2017 to SEK17.18 billion.

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