Defense companies across Europe and the U.K. are benefiting from an increased security threat stemming from the current geopolitical situation. Russia's invasion of Ukraine and the Israel-Hamas war have seen governments increasing spending which, in turn, has resulted in higher orders, profits, and growth for the armaments and technology manufacturers.

-- BAE Systems backed its guidance and said it had booked more than 30 million pounds ($36.8 million) in orders so far this year. The U.K. defense-and-aerospace group also said order flow on both new and existing programs remained strong and underpinned expectations for good top-line growth in the coming years.

-- Rheinmetall confirmed its guidance for the year after third-quarter sales and orders grew on the back of strong demand for ammunition. The German arms maker said it had seen demand rise for military equipment as it reported record figures for new orders and orders on hand.

-- Babcock International--a major contractor for the U.K. government--reported good momentum in the first half of the year as it benefited from the current unstable geopolitical situation. It said its the order backlog has increased since March despite being slightly lower at GBP9.6 billion to date on disposals.

-- QinetiQ Group's first-half order intake stood at a record GBP950 million, improving revenue under contract for the year to 90%. The defense technology company said that it won $600 million of multiyear contracts in the U.S. over the first half of the year and more than GBP600 million in the Europe, Middle East, and Africa region.

-- Chemring Group said that it has experienced robust market conditions, with increasing customer demand for its technology-driven solutions and a resurgent demand for traditional defense capabilities.

-- Thales backed its guidance for the year after the French aerospace-and-defense company's sales exceeded analysts' expectations for the third quarter thanks to growth at its aerospace and defense and security businesses, though orders missed forecasts.

-- Leonardo posted EUR4.58 billion in new orders, up from EUR4.41 billion in last year's third quarter, with performance at the Italian aerospace-and-defense company mainly driven by its defense electronics and security business, with orders there up to EUR2.77 billion from EUR1.81 billion last year.

-- Saab posted a forecast-beating rise in third-quarter earnings and raised full-year guidance as global defense spending continues to surge. The Swedish defense company's order bookings in the quarter rose 93% to SEK14.98 billion, with analysts looking for SEK11.61 billion, and the order backlog stood at SEK138.5 billion, up from SEK112.03 billion a year earlier.

-- Hensoldt confirmed its guidance for the year after posting higher revenue and adjusted earnings for the third quarter. The German aerospace-and-defense electronics company reported revenue of EUR1.14 billion, up from EUR1.10 billion in last year's third quarter. Its order backlog grew to EUR5.47 billion from EUR5.37 billion.

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(END) Dow Jones Newswires

11-14-23 0601ET