Patria deliveries rise as order intake cools

Order intake decreased for Patria in the first quarter of 2026, following an exceptionally strong intake at the end of 2025.

The development reflects the volatility of project business and typical seasonality in the industry, the company said in a press release on Wednesday.

Patria’s net sales increased by 38 percent to 261.8 million euro in the first quarter of 2026 compared with the same period in 2025, driven mainly by its armoured vehicles business.

Group operating profit, or EBIT, rose from 7.9 million euro to 19.2 million euro. Patria’s order stock totalled 3.4 billion euro at the end of the quarter.

Net sales and operating profit continued to grow strongly during the quarter, while the company focused particularly on deliveries.

The joint Common Armoured Vehicle System, CAVC, programme continued to progress, with the first Patria six-by-six vehicles delivered to Germany at the beginning of 2026 following the December order.

Despite the lower order intake, demand for Patria’s products and services continues to grow strongly.

Growth is being further supported by several EU-originated initiatives backing defence materiel procurement and development, as well as rising defence budgets in European Nato countries.

Patria said net sales growth is expected to remain strong in 2026, supported by an increased order stock and a positive demand environment.

Most of the growth is expected to come from the armoured vehicle and weapon systems businesses. Overall, the outlook remains positive.