Latest news with #CV90
Straits Times
22-04-2025
- Business
- Straits Times
Sweden eyes purchase of combat vehicles with Norway, Lithuania, Finland
FILE PHOTO: Swedish Prime Minister Ulf Kristersson announces an increase in defence spending with 300 billion kronor ($30 billion) over the next decade, during a press conference in Stockholm, Sweden, March 26, Gow/TT News Agency/via REUTERS/File Photo STOCKHOLM - Sweden, Lithuania, Norway and Finland are considering a coordinated acquisition of hundreds of CV90 infantry combat vehicles made by BAE Systems, Swedish Prime Minister Ulf Kristersson said on Tuesday. The four countries are now drafting a statement of intent on cooperation for a purchase of the military vehicles, Kristersson told a joint press conference with his Lithuanian counterpart Gintautas Paluckas. Countries in the Nordic and Baltic region, five of which border Russia, are sharply raising defence spending due to the Russian invasion of Ukraine and U.S. demands that European NATO members take on more responsibility for their own security. "We haven't made all the decisions yet, but the faster we make the decisions, the faster they could be delivered as well to national armed forces," Kristersson said. "We are at least discussing several hundreds of vehicles and they are quite costly," he added. The CV90 is produced by a Sweden-based subsidiary of Britain's BAE Systems, Europe's biggest defence company. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Reuters
22-04-2025
- Automotive
- Reuters
Sweden eyes purchase of military vehicles with, Norway, Lithuania, Finland
STOCKHOLM, April 22 (Reuters) - Sweden, Lithuania, Norway and Finland are looking into making a coordinated acquisition of BAE Systems' (BAES.L), opens new tab CV90 infantry combat vehicle, Swedish Prime Minister Ulf Kristersson said on Tuesday. Kristersson told a joint press conference with his Lithuanian counterpart Gintautas Paluckas that the countries discussed buying "several hundred" CV90s, and that a statement of intent on cooperation for the vehicles was being drafted. The CV90 is produced by a Sweden-based subsidiary of Britain's BAE Systems, Europe's biggest defence company.
Yahoo
14-04-2025
- Business
- Yahoo
Prediction: 12 months from now, the BAE share price could turn £5,000 into…
With most stocks taking a tumble in recent weeks, the BAE Systems (LSE:BA.) share price seems to be an exception. The British aerospace and defence business has seen its valuation surge by over 35% since 2025 kicked off. And looking at the latest analyst forecasts, this upward trajectory could continue over the next 12 months. Just over half the institutional analysts following this enterprise currently have a Buy or Outperform recommendation on BAE shares. And it's not exactly difficult to see why. Amid growing geopolitical tensions worldwide, the company posted a record order backlog valued at £77.8bn – an £8bn increase versus 2023. This was predominantly driven by renewed demand for its Hunter Class frigates in Australia, CV90 combat vehicles in Denmark and Sweden, along with 25 and 24 new Typhoon aircraft orders for the Spanish and Italian Air Forces respectively. Combined, this surge in orders translated into a 14% boost in revenue and underlying operating profits. Free cash flow did underperform by comparison, coming in essentially flat year-on-year at £2.5bn. However, that's still significantly larger than the £1.5bn management was aiming for courtesy of higher-than-expected customer advanced payments paired with 'strong operational cash conversion'. What's more, demand's expected to continue growing as Europe begins to ramp up its defence spending. So with all that in mind, it's not entirely surprising that one analyst expected the BAE Systems share price to rise to as high as 2,450p over the next 12 months. That's a 58% potential increase from today's valuation, suggesting that a £5,000 initial investment could grow to £7,903 by this time next year. The prospect of making just over £2,900 over the next year is understandably exciting. However, it's important to remember that forecasts aren't set in stone. Furthermore, this outlook's the most optimistic among analysts. And when taking the average of all current projections, the BAE share price is expected to reach just 1,540p. That's roughly in line with where shares are trading right now. This implies that all the expected growth from higher EU spending and order growth has already been baked into the stock price. Another risk that seems to be going ignored is the potential for a cut to the US defence budget. Suppose Europe is more capable of defending itself. In that case, America may be able to achieve some cost savings within the military to fund proposed tax cuts as well as pay down the national debt. And with almost half of BAE's revenue stream coming from across the pond, growth could stall as defence spending redistributes from one country to another. Nevertheless, BAE's substantial order book should keep it busy for many years to come. And even at current levels, the valuation on a forward price-to-earnings basis is a fairly reasonable 21, behind the European industry average of 25.8. As such, while investors aren't getting a massive bargain, BAE shares could merit further research by those seeking exposure to the aerospace and defence industry. The post Prediction: 12 months from now, the BAE share price could turn £5,000 into… appeared first on The Motley Fool UK. More reading 5 Stocks For Trying To Build Wealth After 50 One Top Growth Stock from the Motley Fool Zaven Boyrazian has no position in any of the shares mentioned. The Motley Fool UK has recommended BAE Systems. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Motley Fool UK 2025 Sign in to access your portfolio
Yahoo
31-03-2025
- Business
- Yahoo
Sweden unveils its largest military aid package for Ukraine worth nearly $1.6 billion
Sweden will provide Ukraine with a military aid package worth almost $1.6 billion, Swedish Defense Minister Pal Jonson announced on March 31. The latest package is Sweden's largest tranche of military assistance since the beginning of Russia's full-scale invasion in 2022, according to Jonson. "The package includes, among other things, support for Ukraine's air defense, artillery, satellite communications, and maritime capacity," the minister said on X. With this package, Sweden's support to Ukraine since 2022 amounts to 80 billion Swedish kronor ($8 billion), the country's government said. This assistance has included Archer self-propelled howitzers, Strv 122 tanks, and CV90 infantry fighting vehicles. The latest package includes $912 million worth of equipment that will be procured from the Swedish defense industry and delivered to Ukraine in the span of "about 0-24 months." It also encompasses a $465 million donation to international multilateral initiatives, the Ukraine Defense Contact Group, and purchases from the Ukrainian defense industry. Kyiv will further receive material and spare parts from the Swedish Armed Forces worth about $93 million, including m/58 machine guns, ammunition, roughly 100 vehicles of various types for air base maintenance, and other support. Stockholm is also allocating $46 million for an export guarantee to supplement procurement for donations to Ukraine, ensuring more Swedish companies can support Kyiv by providing requested material. Finally, the Swedish Defense Materiel Administration, a state military procurement agency, "will also be tasked with identifying, testing and funding military solutions from small tech companies that need to be verified or scaled up for military purposes in Ukraine," Jonson said. The package comes as European countries seek to bolster support for Ukraine as future backing from the U.S., the leading military donor, grows increasingly uncertain under President Donald Trump. Read also: Ukraine war latest: Putin will have nothing to say at peace negotiations, Zelensky says We've been working hard to bring you independent, locally-sourced news from Ukraine. Consider supporting the Kyiv Independent.
Yahoo
31-03-2025
- Business
- Yahoo
Lithuania buys more weapons, beckons their makers to invest locally
WARSAW, Poland — Amid a surge in defense spending across Eastern Europe, Lithuania is advancing plans to purchase Leopard 2A8 tanks and CV90 infantry fighting vehicles while making efforts to attract investors that will develop its own defense industry. Giedrimas Jeglinskas, the chairman of the Lithuanian parliament's Committee on National Security and Defence, told Defense News the country's authorities have decided to increase its level of military expenditure to between 5% and 6% of its GDP from 2026 to 2030. This would place the nation atop of NATO in terms of spending. Similarly to the other two Baltic states, Estonia and Latvia, Lithuania has boosted its military expenditure in the aftermath of Russia's invasion of Ukraine. 'Our capability target is a division that we need to arm to make it a reality, so we need to increase spending to speed up the development of divisional assets. We need tanks, infantry fighting vehicles, air defense and some other high-tech assets to ensure this division's readiness,' Jeglinskas said. 'We need to arrive at the level which will allow us to deter potential aggression,'he added. In December 2024, Lithuanian Defence Minister Dovilė Šakalienė inked a contract to buy 44 Leopard 2A8 tanks during an official visit to Germany. In Berlin, Šakalienė met with German officials to discuss issues related to the two nations' defense cooperation, including the heavy maneuver brigade of 4,800 personnel that the German Armed Forces, the Bundeswehr, is to deploy to Lithuania in the summer of 2025. The move is designed to bolster NATO's eastern flank. Last year, the State Defence Council, Lithuania's top defense decision-making body, authorized the country's National Defence Ministry to also kick off the acquisition of tracked CV90s, which are made by BAE Systems Hägglunds. In 2025, Lithuania's defense spending is to total some €3.2 billion ($3.5 billion), or around 3.9% of the country's GDP, according to data from the National Defence Ministry. Alongside their work to equip the new Infantry Division with new gear, Lithuanian officials are also developing a program similar to Estonia's initiative to lure weapon and ammunition makers to its Ämari military base. As part of these efforts, Germany's Rheinmetall is carrying out a project to build a new ammunition plant in Lithuania, and Vilnius hopes to attract more defense industry players. The Lithuanian Ministry of Economy and Innovation 'and the Ministry of National Defence are working tandem on the so-called Green Corridor to attract investors. Rheinmetall is one of those deals, and more producers are coming, as we're holding talks with several manufacturers of explosives,' according to Jeglinskas, who represents the co-ruling Union of Democrats for Lithuania. In November 2024, Rheinmetall launched the construction of a plant to make 155 mm artillery ammunition in Lithuania. Located in Baisogala, the factory is to commence operations in mid-2026. As part of the €180 million investment, around 150 jobs are to be created locally. 'A state-of-the-art production facility, including a shell manufacturing and load assembly pack, is being built in the municipality on an area of around 340 hectares,' the German company said in a statement. Once completed, the plant 'will be able to produce tens of thousands of 155 mm calibre artillery shells per year.' Jeglinskas said the Lithuanian government's responsibility is to support potential investors with a wide range of assistance, including financial aid, to attract more defense-focused investments. 'It's the government's role; the government needs to put money into certain companies, and state capital is needed is push forward such investments that are of strategic importance to Lithuania and its security,' the lawmaker said. Meanwhile, in Estonia, the country's authorities are making efforts to settle producers of weapons, ammunition and equipment in different locations across the country. In addition to the defense industry park in Ämari, a larger defense park is to be made available for manufacturing projects by both domestic and foreign defense companies. The national park's location is yet to be decided. Public tenders to select investors are scheduled for 2025, representatives of the Estonian Centre for Defence Investments (ECDI), the country's military procurement agency, told Defense News.
