UPDATE 1-Saab sees further market uncertainty as profit falls

viernes 24 de abril de 2015 03:43 GYT

* EBIT 210 mln SEK vs consensus 273 mln

* Says customers delaying orders

* Sees increased market risk also in coming quarters

* Repeats sees unchanged full-year adjusted EBIT margin (Adds detail, background)

STOCKHOLM, April 24 (Reuters) - Swedish defence firm Saab reported a surprise fall in first-quarter operating profit on Friday, saying customers were delaying orders due to tough market conditions, and predicted further uncertainty in coming quarters.

Saab, whose products range from its Gripen fighter jet to missiles and advanced command systems and submarines, repeated that it expected its operating profit margin before large extraordinary items to be in line with the margin in 2014, when it was 7.1 percent.

The company, which expects to sign a 39 billion crown ($4.5 billion) Gripen deal with Brazil and a deal with Sweden for new submarines this year, sees organic sales growth this year above its long-term annual 5 percent target.

"The market is still characterised by challenging conditions where customers' orders are delayed, partially due to financial reasons," it said. "During the first quarter, we have also seen that political standpoints have had a negative impact," it added, without elaborating.

"Altogether, this has increased the market risk and we expect that this increased risk will remain in the coming quarters," it said.   Continuación...