Saab reports Q2 operating profit above forecast on strong demand

Swedish defence and aerospace group Saab announced a second-quarter operating profit of 2.79 billion Swedish crowns ($289 million), surpassing analyst expectations. The company's earnings were boosted by strong demand across its key markets, which drove a significant increase in sales and order bookings.

Saab, known for its Gripen fighter jet and a range of military equipment including missiles and advanced electronics, reported that like-for-like sales grew by 29.8% compared to the previous year. The company stated its ongoing focus is on expanding production capacity to meet the heightened demand.

The reported operating earnings of 2.79 billion crowns were higher than the mean forecast of 2.48 billion crowns from an LSEG poll of analysts. A year earlier, the company's operating earnings stood at 1.98 billion crowns.