Saab reports Q4 net profit increase to 1.22B kronor, sales up 16% to 16.12B kronor, due to global defense spending surge.

Saab, a Swedish defense company, has reported higher-than-expected fourth-quarter earnings, with net profit increasing to 1.22 billion kronor ($116.5 million) from 1.12 billion kronor a year earlier. Sales also rose by 16% to 16.12 billion kronor. The company's order bookings increased by 5.5% to 31.5 billion kronor, and its order backlog reached 153.41 billion kronor. The rise in earnings and sales is attributed to the ongoing surge in global defense spending.

February 09, 2024
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