Cohort (AIM:CHRT), the AIM-listed defence technology group, said its Sensors and Effectors division has won a €140.7 million contract through German subsidiary ELAC.
ELAC will collaborate with Saab to deliver integrated sonar systems for Poland's Orka Submarine Programme.
Work starts immediately, with deliveries running out to the mid-2030s.
Cohort said the contract, alongside other recent wins across the group, is expected to enhance adjusted earnings per share in the following financial year and beyond.
The deal centres on Saab's A26 submarine, which the Polish Navy has selected for the programme.
Chief executive Andy Thomis said the order confirms ELAC SONAR's position as a world-leading provider of advanced digital sonar systems for submarines.
"We will work together closely to ensure that these advanced vessels are provided with cutting-edge active and passive sonar systems, creating a world-class underwater capability that will make a major contribution to security in the Baltic Sea region," he said.
ELAC, acquired by Cohort in December 2020, marks its 100th anniversary this year.
Thomis said the Saab order demonstrates its continued status as a leading provider of naval hydroacoustic systems for the Baltic Sea and worldwide.
Joe Spooner, analyst at Shore Capital, in a note, said the ELAC contract is a significant multi‑year order that should materially help Cohort's near‑term delivery profile. The broker repeated a Buy rating, with a 1,510p target, arguing the award helps fill the FY28 delivery gap and could build to c.£20m a year by the end of the decade.
The broker flagged the deal's scale against a £619m closing order book and that such multi‑year work is exactly the type of order the group needs to bolster forward revenues.
News Intelligence what this means for the company
Cohort's German subsidiary ELAC has secured a €140.7m contract to supply integrated sonar systems for Poland's Orka Submarine Programme, with deliveries extending to the mid-2030s. The company expects this win, combined with other recent contract successes, to enhance adjusted earnings per share from the following financial year onwards—a material addition to a group with FY revenue of £306.4m and a closing order book of £618.8m.
- Saab is the prime contractor for the A26 submarines; Cohort's role as a critical subsystem supplier deepens its integration into a long-cycle naval platform expected to generate revenue visibility through the mid-2030s.
The contract extends Cohort's Sensors & Effectors division revenue into the 2030s and signals confidence in ELAC's sonar technology in a strategically important NATO region. At €140.7m, the deal is material relative to the group's £306.4m annual revenue and reinforces the backlog-driven earnings trajectory the board flagged in July 2026.
Insights assembled by AI. Editor-reviewed and grounded in tickstock’s coverage and proprietary knowledge graph.
Content is for informational purposes only, not financial advice.
