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Defense SAP seeks tripling with Gripen deal
The Swedish defense industry company "SAB" announced that it achieved profits and revenues exceeding expectations in the third quarter, thanks to an increase in new orders that more than tripled compared to the previous year, reaching 65.8 billion Swedish kronor (6.6 billion USD). The orders included a major contract worth 24.6 billion kronor for the supply of 16 "Gripen E" fighter jets to Ukraine, with delivery scheduled between 2029 and 2030. There were also orders for "Global Eye" aircraft and corvette systems from Germany and the Middle East. Despite the surge in orders, expanded sales, and profits, the company's shares have recently come under selling pressure. However, the CEO affirmed that the major contracts reinforce the company's financial and strategic position amid escalating security tensions in the European defense market.
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