Saab outperforms expectations with strong Q1 2026 profit jump

Swedish aerospace and defence group Saab reported a larger than expected rise in first-quarter operating profit on Thursday and said it was on track to deliver on medium-term targets.

Saab, which makes products ranging from Gripen fighter jets and submarines to missiles and advanced electronics, reported a 32 per cent rise in first-quarter operating profit to SEK1.92 billion ($208 million), beating expectations of SEK1.71 billion in an LSEG poll of analysts.

The group is scaling up production to meet demand from Europe and beyond as Russia's invasion of Ukraine and conflict in the Middle East drive a continued rise in arms expenditure.

"It's full speed ahead," CEO Micael Johansson told Reuters. "There's a lot of activity in the market and we have a lot in the pipeline."