New defence order, and faster-than-expected delivery
Clavister has received a new order worth SEK 53m to supply BAE Systems with CyberArmour for its CV90 platform. This constitutes Clavister's third CyberArmour order from BAE Systems. This order does not come as a surprise to us, as we know that Clavister's CyberArmour solution is designed into BAE Systems's CV90 platform and that BAE received an order from Sweden earlier this year for new CV90s to replace the vehicles Sweden sent to Ukraine, as well as new CV90s to be sent directly to Ukraine (in total ~90 vehicles, we think). Even if this was expected, we think this is positive news, and we also find it positive that Clavister expects to start delivering on this order already in the second half of 2025 (we expected 2026).
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