Patria reports surge in orders
A Patria subsidiary is providing laser sights and image intensifiers for Finnish CV9030 IFVs. (Photo: Patria)
Pre-tax profits and order backlog blossom for Patria in the first nine months of the year, as the Finnish group eyes domestic and European opportunities.
Year-on-year sales remained flat for Patria at €359.6 million in the first nine months of 2021, although pre-tax profits more than doubled for the Finnish defence and aerospace group.
Figures released on 29 October showed that income before taxes increased from €13.8 million in January-September 2020 to €34.3 million a year later.
The order backlog also surged from €547.8 million to €1.43 billion, and Patria noted a number of new contracts and programme milestones since January 2021.
For example, its subsidiary Senop received a €13.6 million contract late in Q3 from the Finnish Defence Forces for laser sights and additional image intensifiers on Finnish CV9030 infantry fighting vehicles.
Finland, Latvia and Patria sealed a framework deal to manage production of a collaboratively developed 6x6 vehicle. Latvia and Patria also signed a supply contract for more than 200 6x6 armoured personnel carriers under the joint programme. Latvia received its first vehicle in October 2021 and deliveries will continue until 2029.
Patria noted that the ‘significant HX programme continues providing an extremely important and long-standing opportunity’ and in the naval domain, it was awarded a contract by Belgium Naval & Robotics to deliver Sonac ACS acoustic minesweeping systems for the joint Belgian-Dutch minehunter programme.
In addition, the company is involved in two European Defence Industrial Development Programme initiatives: a three-nation consortium (Estonia, Finland and Sweden) to improve maritime surveillance capabilities; and a 20-strong industry team to develop next-generation armoured platforms and upgrade existing vehicles to improve ground combat capabilities.
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