Swedish defence group Saab said Friday that order bookings more than doubled in the second quarter, buoyed by a Polish order for three new submarines, and said it was focused on scaling capacity.
“Demand for defence and deterrence capabilities remained strong during the quarter, as customers continued to invest in both immediate readiness and long-term capabilities,” chief executive Micael Johansson said.
The group said order bookings rose 141 percent to 68.4 billion kronor ($7.1 billion) in the period of April to June, compared to a year earlier.
Saab noted that this included an order worth 47 billion kronor from Poland for three A26 submarines, the company’s “largest export order to date”.
Sales meanwhile rose to 25.5 billion kronor, representing a 29-percent increase, and net income rose 41 percent to 2.2 billion kronor.
Johansson also said market interest in the groups Gripen fighter jets remained “strong”.
In late June, Ukraine signed a contract to buy 16 of the Saab’s latest Gripen E model aircraft.
Earlier the same month Swedish Defence Minister Pal Jonson said Sweden and Brazil had signed a declaration of intent for Brazil to buy 20 additional Gripen fighter jets, on top of the 36 it already has.
“We operate in a market with structurally growing demand and remain focused on scaling capacity,” Johansson said, noting the company had now grown to over 29,000 full-time employees.