Patria Reports Strong Net Sales and EBIT Growth in Q1 2026
Defense group Patria announced a robust first quarter for 2026, with net sales increasing 38% to EUR 261.8 million and operating profit showing significant improvement.
Helsinki – Defense and aerospace group Patria reported strong performance in the first quarter of 2026, with net sales rising 38% year-on-year to EUR 261.8 million. The growth was primarily driven by the company's armoured vehicles business.
Patria's operating profit (EBIT) saw a substantial increase, climbing from EUR 7.9 million in the same period last year to EUR 19.2 million. The company's order backlog stood at EUR 3.4 billion at the end of the quarter. While new orders were lower compared to the exceptionally strong intake at the end of 2025, this reflects the typical project-based nature and seasonality within the industry.
The company focused on deliveries during the first quarter. The joint Common Armoured Vehicle System (CAVS) program progressed as planned, with the first Patria 6x6 vehicles delivered to Germany early in the year. Patria has continued to increase investments to meet growing demand and enhance its offerings, with significant efforts directed toward expanding production capacity.
The contributions from Patria's joint ventures, Millog and Nammo, to the group's net sales and operating profit were in line with the comparison period. Key events during the quarter included a life cycle support agreement signed with Latvia for its CAVS 6x6 armoured vehicle fleet and a contract with Kongsberg Defence & Aerospace for the delivery of PROTECTOR RS4 remote weapon stations for over 300 Patria 6x6 armoured vehicles.