Sweden's MilDef Q4 revenue jumps 87% on acquisitions

MilDef AB

05/02/2026 07:11

Overview

Swedish rugged IT provider's Q4 revenue rose 87% yr/yr, driven by organic and acquired growth

Company's Q4 adjusted EBITA margin improved to 19.3% from 17.0%

MilDef won significant contracts, including SEK 52 mln deal with L3Harris

Outlook

MilDef expects continued demand amid geopolitical uncertainties

Company plans production capacity increase by 50% by summer 2026

MilDef sees potential to speed up development through capacity investments

Result Drivers

ORDER INTAKE - Q4 order intake increased by 30% to SEK 1,005 mln, driven by new contracts including a major deal with L3Harris

ACQUISITION IMPACT - Acquisition of roda negatively impacted Q4 gross margin, reducing it to 43.1% from 47.4%

CAPACITY EXPANSION - MilDef expanded production facilities to meet increased demand, including a new facility in Stockholm County

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
SEK 783 mln
Q4 Gross Margin
43.10%
Q4 Orders
SEK 1.005 bln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the aerospace & defense peer group is "buy"

Wall Street's median 12-month price target for MilDef Group AB is SEK201.00, about 64.2% above its February 4 closing price of SEK122.40

The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 27 three months ago

Press Release: ID:nWkr1sCWXb

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)