Swedish defence company Saab's annual revenues exceeded SEK33.1 billion (USD3.6 billion) in 2018, according to annual results released on 15 February; a rise of 4.7% year- on-year. However, the company's net income fell below SEK1.4 billion, a 9.4% decline compared to 2017.
All but two of the company's business units increased their sales performance in 2018, with the largest divisions, Aeronautics, Surveillance, and Industrial Products and Services, growing by 11%, 12%, and 8% respectively.
Saab's smallest business, conventional submarines and surface combatant manufacturer Kockums, registered the strongest revenue growth within Saab, with sales 21% higher than in 2017.
In a statement announcing the publication of the results, Saab President and CEO Håkan Buskhe said, "2018 was a year in which Saab strengthened its market position.
Want to read more? For analysis on this article and access to all our insight content, please enquire about our subscription options at ihsmarkit.com/janes