Saab AB (SAABY,SAABF) on Friday posted a 52 growth in its second quarter profit, helped by strong sales, especially in medium and small-sized orders. The company also lifted its fiscal 2025 organic sales growth outlook.
The Swedish aerospace and defence company posted second quarter net income of 1.54 billion Swedish Kroner or 2.83 Swedish Kroner per share, higher than 1.01 billion Swedish Kroner or 1.85 Swedish Kroner per share in the same period last year.
During the three-month period, pre-tax profit climbed to 1.9 billion Swedish Kroner from 1.31 billion Swedish Kroner in the previous-year quarter.
Sales for the second quarter climbed 30 percent to 19.79 billion Swedish Kroner from 15.17 billion Swedish Kroner recorded in the year-ago period. The company's operating income or EBIT came in at 1.98 billion Swedish Kroner, up 49 percent from 1.33 billion Swedish Kroner in the prior-year quarter.
According to the company, EBITDA rose 44 percent to 2.83 billion Swedish Kroner from 1.96 billion Swedish Kroner in the second quarter of 2024.
Looking ahead, for fiscal 2025, the company raised its organic sales growth outlook to between 16 percent and 20 percent, compared to the earlier organic sales growth between 12 percent and 16 percent. Saab AB also reaffirmed that EBIT growth will be higher than the organic sales growth and positive operational cash flow for the year ahead.
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