In the context of intense international tensions, especially in Ukraine, the defense group Saab is moving at full speed on the development path. Thus, 91% of the orders received in 2023 will boost the Swedish group’s defense activities. “The year 2023 marked a step change for Saab with a new market reality and a new path of development. Our performance in 2023 reflects our ambitions in this new environment, with strong growth in orders and sales, investment in skills, capacity and R&D, improving results and generating positive cash flows.Saab CEO Michael Johansson was quoted as saying in a Saab press release published on Friday.
Vertiginous growth
Thus, Saab has been growing tremendously since 2020, with its annual turnover increasing from 35.43 billion Swedish kroner (3.14 billion euro) in 2020 to 51.6 billion kroner (4.58 billion euro) in 2023. An increase of over 46% over four years. In just one year, the increase is the most significant (+ 22.8%), with turnover increasing from 42 billion kroner (3.73 billion euro) in 2022 to 51.6 billion in 2023, including 21.6 billion (1.92 billion euro) in Sweden which is 41.6 represents. % of Saab’s total turnover. Which very clearly shows that Sweden, located opposite the Kaliningrad enclave, takes the Russian threat very seriously. EBetween 2023 and 2024, Stockholm will grow Budgetary allocation for defense of 27 billion crowns (2.4 billion euros).. SOr the 28% jump that would allow the defense budget to reach 119 billion crowns (10.55 billion euros) in 2024. From 2020, the The allocation for the defense department has doubled.
So Saab’s growth will continue. Concretely, the order intake received by the group in 2023 has exploded. For over a year, they has exploded (+23% compared to 2022). At the end of 2023, they topped the order book for Saab at 153.4 billion kroner (13.6 billion euro) at the end of 2023, compared to 63.1 billion kroner (5.6 billion euro) in 2022, compared to 77.8 billion kroner (6.9 billion euro). 127.67 billion at the end compared to Rs. A jump of 20%. As a result, Saab predicts a growth of between 12% and 16% in its turnover in 2024. “Saab is a company with significant long-term opportunities.”Estimate Michael Johansson.
Land Armory drives Saab’s development
Orders for missiles, rocket launchers and anti-tank weapons are exploding (+62% between 2022 and 2023). Saab recorded order intake of 28.9 billion kroner (2.56 billion) for its dynamics division, which includes underwater drones, simulation systems and camouflage. The division’s order book grew to 46.9 billion crowns (4.16 billion euros). The division’s 2023 turnover amounted to 12.5 billion kroner (1.11 billion euros), an increase of 37% (24% of Saab’s turnover).
On the other hand, the increase in order intake for the surveillance division, where the GlobalEye program is housed, is more modest (4% to 23.8 billion crowns, 2.1 billion euros). However, turnover (36% of Saab’s sales in 2023) increased by 27% to 18.55 billion crowns (1.65 billion euros). It is the segment that has the greatest growth potential today…
