SAAB (SAAB) Q3 2026 earnings summary

Executive summary

• Q3 sales grew 30.6% organically and EBIT rose 42% YoY to SEK 1.945bn; 9M organic sales growth was 27.5% and EBIT growth was 39%.

• Q3 order bookings reached SEK 65.8bn, with a 3.2x book-to-bill ratio; backlog rose to SEK 364.2bn.

Financial highlights

• Q3 sales were SEK 20.553bn, up 29.5% reported and 30.6% organically; currency translation reduced growth by 0.8 percentage points.

• Q3 gross income was SEK 4.813bn and gross margin 23.4%, versus 22.9% YoY; EBITDA was SEK 2.833bn, with a 13.8% margin.

• Q3 net income rose to SEK 1.432bn from SEK 975m; diluted EPS increased to SEK 2.57 from SEK 1.77.

• 9M sales reached SEK 65.170bn, up 27.5% organically; EBIT was SEK 6.659bn, up 39%, with a 10.2% margin.

• Q3 operational cash flow was SEK 6.785bn, supported by customer payments; 9M operational cash flow was SEK 7.740bn and free cash flow was SEK 5.053bn.

Outlook and guidance

• 2023–2027 medium-term targets remain ~22% organic sales CAGR, operating income growth above organic sales growth and cumulative five-year cash conversion above 60%.

• Record backlog, rising delivery volumes and capacity expansion support a favourable long-term market outlook; production capacity and working-capital needs are increasing.

• Capacity investment is expected to remain high; Aeronautics plans to raise output from ~15 to 25–30 aircraft annually, while Surveillance targets growth from two to six aircraft.