Finance
Sweden's Saab posts higher-than-expected organic sales growth for 2024
Published by Global Banking & Finance Review®
Posted on January 17, 2025
2 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on January 17, 2025
2 min readLast updated: January 27, 2026
Saab forecasts 23.4% organic sales growth for 2024, exceeding previous estimates, driven by global defence demand.
COPENHAGEN (Reuters) -Swedish defence equipment maker Saab expects to report 2024 organic sales growth of 23.4%, it said on Friday, above its previous outlook at the upper end of a 15-20% range.
The company, which competes with defence giants such as Lockheed Martin, France's Dassault Aviation and Britain's BAE Systems, is riding an industry-wide boom in demand as rising global tensions, not least due to Russia's war in Ukraine, fuel rapid rearmament.
"The increased organic sales growth... follows a higher-than-expected sales development due to exceptional project execution in the fourth quarter," Saab said in a statement.
Shares in Saab were down 4.7% by 1252 GMT after initially rising on the news. The stock is still up 30.7% in the last 12 months.
Saab said it expected sales for the October-December quarter of 20.9 billion Swedish crowns ($1.87 billion), up from 16.1 billion a year earlier, boosting full-year sales to 63.8 billion crowns from 51.6 billion in 2023.
Preliminary operating income for the fourth quarter rose to 2 billion Swedish crowns from 1.4 billion a year earlier.
The maker of military hardware such as missiles, advanced electronics, submarines and the Gripen fighter jet, maintained its expectation that operating income would grow at a faster pace than sales.
The company will report its final earnings for 2024 on Feb. 7.
($1 = 11.1632 Swedish crowns)
(Reporting by Louise Breusch Rasmussen, editing by Stine Jacobsen, Kirsten Donovan)
The article discusses Saab's forecasted organic sales growth of 23.4% for 2024, surpassing previous expectations.
Saab's growth is significant due to increased global demand for defence equipment amid rising geopolitical tensions.
Saab will report its final earnings for 2024 on February 7.
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