MilDef Group Management
Management criteria checks 3/4
MilDef Group's CEO is Daniel Ljunggren, appointed in May 2023, has a tenure of 3.08 years. total yearly compensation is SEK3.76M, comprised of 73.1% salary and 26.9% bonuses, including company stock and options. directly owns 2.12% of the company’s shares, worth SEK184.65M. The average tenure of the management team and the board of directors is 3.1 years and 2.1 years respectively.
Key information
Daniel Ljunggren
Chief executive officer
SEK 3.8m
Total compensation
| CEO salary percentage | 73.08% |
| CEO tenure | 3.1yrs |
| CEO ownership | 2.1% |
| Management average tenure | 3.1yrs |
| Board average tenure | 2.1yrs |
Recent management updates
Recent updates
Narrative Update • Jun 24
MILDEF: Helsingborg Expansion Will Support Higher Future Capacity And Earnings Margin
The analyst price target for MilDef Group has shifted slightly higher from SEK 220.40 to SEK 223.00. Analysts cite updated assumptions on the discount rate, revenue growth, profit margin and future P/E as the key drivers behind this adjustment.Narrative Update • Jun 06
MILDEF: Helsingborg Expansion Will Support Future Capacity And Earnings Upside
MilDef Group's analyst price target has been adjusted from SEK208.40 to SEK220.40 as analysts factor in updated assumptions on the discount rate, revenue growth, profit margin and future P/E levels. What's in the News MilDef issued earnings guidance for the first quarter of 2026, indicating revenue of approximately SEK 700 million compared with SEK 340 million in the prior period, according to company guidance.Analysis Article • Apr 26
MilDef Group AB (publ) Just Beat EPS By 93%: Here's What Analysts Think Will Happen Next
It's been a good week for MilDef Group AB (publ) ( STO:MILDEF ) shareholders, because the company has just released its...Narrative Update • Apr 20
MILDEF: Helsingborg Expansion And 2026 Guidance Will Support Long Term Upside Potential
Analysts now set their fair value estimate for MilDef Group at SEK 208.40, compared with the prior SEK 206.00, reflecting updated assumptions for discount rate, revenue growth, profit margin and future P/E multiples. What's in the News MilDef issued earnings guidance for the first quarter of 2026, indicating revenue of about SEK 700 million compared with SEK 340 million, and an expected EBITA in the range of SEK 115 million to SEK 120 million, which corresponds to an EBITA margin of about 17% compared with 4.6% (Key Developments).Narrative Update • Apr 05
MILDEF: Future Dividend Policy Will Support Long Term Upside Potential
MilDef Group's analyst price target has been adjusted slightly from SEK 208 to SEK 206 as analysts refresh their models around discount rate, revenue growth, profit margin and future P/E assumptions. What's in the News MilDef Group AB (publ) declared an annual dividend of SEK 0.7500 per share, scheduled for payment on May 28, 2026 (Key Developments).Narrative Update • Mar 22
MILDEF: Future Dividend And Steady Assumptions Will Support Long Term Upside
Analysts have kept their SEK price target for MilDef Group steady, with minor tweaks to inputs such as discount rate, revenue growth, profit margin and future P/E. These adjustments reflect updated assumptions rather than a change in the overall valuation view.Narrative Update • Mar 08
MILDEF: Future Dividend And Stable Assumptions Will Support Long Term Upside
Analysts have kept their SEK 208 price target for MilDef Group unchanged, as small tweaks to the discount rate and forward P/E assumptions are seen as offsetting each other in their updated valuation work. What's in the News MilDef Group AB announced an annual dividend of SEK 0.75 per share.Narrative Update • Feb 22
MILDEF: Future Dividend Policy Will Support Long Term Upside Potential
Analysts have kept their SEK 208.00 price target for MilDef Group unchanged, citing only minor tweaks to the discount rate, revenue growth, profit margin, and future P/E assumptions that collectively preserve their overall view of the share's valuation. What's in the News MilDef Group AB (publ) announced an annual dividend of SEK 0.7500 per share, with payment scheduled for May 28, 2026.Narrative Update • Feb 07
MILDEF: Future Dividend And Defense Facilities Will Support Long Term Upside
Analysts have trimmed their price target on MilDef Group from SEK210 to SEK208. This reflects updated assumptions for revenue growth, profit margins and a higher future P/E multiple in their models.Narrative Update • Jan 24
MILDEF: New Bastionen Facility Will Support Stronger Long Term Defense Contracts
Analysts have trimmed their price target on MilDef Group from SEK 230.50 to SEK 210.00, citing updated assumptions around the discount rate, revenue growth, profit margin and future P/E levels. Valuation Changes Fair Value: Trimmed from SEK 230.50 to SEK 210.00, a reduction of SEK 20.50 per share.Analysis Article • Jan 16
Should You Investigate MilDef Group AB (publ) (STO:MILDEF) At kr145?
MilDef Group AB (publ) ( STO:MILDEF ), is not the largest company out there, but it led the OM gainers with a...Narrative Update • Jan 09
MILDEF: New Bastionen Facility Will Support Stronger Long Term Defense Contracts
Analysts have revised their price target for MilDef Group from SEK 267.50 to SEK 230.50, reflecting updated assumptions on revenue growth, profit margins, the discount rate, and a lower future P/E multiple. What's in the News MilDef has opened a new 6,500 square meter office and production facility in Rosersberg, north of Stockholm, called Bastionen.Analysis Article • Dec 19
Here's Why MilDef Group (STO:MILDEF) Can Manage Its Debt Responsibly
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Analysis Article • Nov 12
MilDef Group AB (publ) (STO:MILDEF) Stock's 27% Dive Might Signal An Opportunity But It Requires Some Scrutiny
MilDef Group AB (publ) ( STO:MILDEF ) shareholders won't be pleased to see that the share price has had a very rough...Analysis Article • Sep 19
After Leaping 27% MilDef Group AB (publ) (STO:MILDEF) Shares Are Not Flying Under The Radar
MilDef Group AB (publ) ( STO:MILDEF ) shareholders are no doubt pleased to see that the share price has bounced 27% in...Analysis Article • Jul 22
MilDef Group AB (publ) Just Missed Earnings - But Analysts Have Updated Their Models
MilDef Group AB (publ) ( STO:MILDEF ) last week reported its latest quarterly results, which makes it a good time for...Analysis Article • Jul 02
Market Cool On MilDef Group AB (publ)'s (STO:MILDEF) Revenues Pushing Shares 30% Lower
MilDef Group AB (publ) ( STO:MILDEF ) shareholders won't be pleased to see that the share price has had a very rough...Analysis Article • May 03
Investors Appear Satisfied With MilDef Group AB (publ)'s (STO:MILDEF) Prospects As Shares Rocket 27%
Despite an already strong run, MilDef Group AB (publ) ( STO:MILDEF ) shares have been powering on, with a gain of 27...Analysis Article • Apr 13
MilDef Group AB (publ) (STO:MILDEF) Released Earnings Last Week And Analysts Lifted Their Price Target To kr184
Investors in MilDef Group AB (publ) ( STO:MILDEF ) had a good week, as its shares rose 9.1% to close at kr212 following...Analysis Article • Apr 02
MilDef Group (STO:MILDEF) Seems To Use Debt Quite Sensibly
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it might be obvious that you need to...Analysis Article • Feb 18
MilDef Group AB (publ) (STO:MILDEF) Stocks Shoot Up 30% But Its P/S Still Looks Reasonable
MilDef Group AB (publ) ( STO:MILDEF ) shares have continued their recent momentum with a 30% gain in the last month...
New Narrative • Feb 11
Acquiring Roda Will Open Central European Markets In Defense Sector
Strategic shift to defense sector and acquisition expansion likely to improve revenue and margins amid growing defense spending.Analysis Article • Dec 04
Analyst Forecasts For MilDef Group AB (publ) (STO:MILDEF) Are Surging Higher
Celebrations may be in order for MilDef Group AB (publ) ( STO:MILDEF ) shareholders, with the analysts delivering a...Analysis Article • Nov 21
MilDef Group AB (publ) (STO:MILDEF) Stocks Shoot Up 25% But Its P/S Still Looks Reasonable
MilDef Group AB (publ) ( STO:MILDEF ) shares have continued their recent momentum with a 25% gain in the last month...Analysis Article • Nov 19
This Just In: Analysts Are Boosting Their MilDef Group AB (publ) (STO:MILDEF) Outlook for Next Year
MilDef Group AB (publ) ( STO:MILDEF ) shareholders will have a reason to smile today, with the analysts making...Analysis Article • Oct 30
MilDef Group AB (publ) Just Beat Earnings Expectations: Here's What Analysts Think Will Happen Next
The third-quarter results for MilDef Group AB (publ) ( STO:MILDEF ) were released last week, making it a good time to...Analysis Article • Aug 19
MilDef Group AB (publ) (STO:MILDEF) Looks Just Right With A 26% Price Jump
MilDef Group AB (publ) ( STO:MILDEF ) shareholders would be excited to see that the share price has had a great month...Analysis Article • Jul 29
MilDef Group AB (publ) Just Beat EPS By 147%: Here's What Analysts Think Will Happen Next
MilDef Group AB (publ) ( STO:MILDEF ) just released its latest second-quarter results and things are looking bullish...Analysis Article • May 01
MilDef Group AB (publ) Just Reported A Surprise Loss: Here's What Analysts Think Will Happen Next
MilDef Group AB (publ) ( STO:MILDEF ) shareholders are probably feeling a little disappointed, since its shares fell...CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Mar 31 2026 | n/a | n/a | SEK 219m |
| Dec 31 2025 | SEK 4m | SEK 3m | SEK 148m |
| Sep 30 2025 | n/a | n/a | -SEK 195m |
| Jun 30 2025 | n/a | n/a | -SEK 223m |
| Mar 31 2025 | n/a | n/a | -SEK 209m |
| Dec 31 2024 | SEK 3m | SEK 2m | -SEK 220m |
| Sep 30 2024 | n/a | n/a | SEK 55m |
| Jun 30 2024 | n/a | n/a | SEK 43m |
| Mar 31 2024 | n/a | n/a | SEK 41m |
| Dec 31 2023 | SEK 2m | SEK 1m | SEK 69m |
Compensation vs Market: Daniel's total compensation ($USD387.70K) is below average for companies of similar size in the Swedish market ($USD771.00K).
Compensation vs Earnings: Daniel's compensation has been consistent with company performance over the past year.
CEO
Daniel Ljunggren (46 yo)
3.1yrs
Tenure
SEK 3,759,000
Compensation
Mr. Daniel Ljunggren is President of MilDef Group AB (publ) from May 2023 and serves as its Chief Executive Officer since May 26, 2023. Mr. Ljunggren was Chief Financial Officer at MilDef Group AB (publ) s...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President & CEO | 3.1yrs | SEK 3.76m | 2.12% SEK 184.6m | |
| Chief Financial Officer | 2.8yrs | no data | 0.0043% SEK 374.8k | |
| Deputy CEO & CTO | 6.4yrs | no data | 0.21% SEK 18.5m | |
| Head of Investor Relations & Communication | no data | no data | 0.022% SEK 1.9m | |
| Chief Legal & Compliance Officer | 6.4yrs | no data | 0.049% SEK 4.3m | |
| Chief People Officer | 2.8yrs | no data | 0.0071% SEK 617.4k |
3.1yrs
Average Tenure
45.5yo
Average Age
Experienced Management: MILDEF's management team is considered experienced (3.1 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Director | less than a year | no data | no data | |
| Independent Director | 6.4yrs | SEK 370.00k | 0.0017% SEK 151.3k | |
| Independent Director | 6.4yrs | SEK 310.00k | 0.0022% SEK 187.0k | |
| Chair of the Board | 3.1yrs | SEK 565.00k | 0.83% SEK 72.2m | |
| Member of Advisory Board | no data | no data | no data | |
| Independent Director | 1.1yrs | SEK 310.00k | 0.021% SEK 1.8m | |
| Member of Advisory Board | no data | no data | no data | |
| Chairman of Advisory Board | no data | SEK 200.00k | no data | |
| Member of Advisory Board | no data | no data | no data | |
| Member of Advisory Board | no data | no data | no data | |
| Member of Advisory Board | no data | no data | no data | |
| Independent Director | 1.1yrs | SEK 250.00k | no data |
2.1yrs
Average Tenure
62yo
Average Age
Experienced Board: MILDEF's board of directors are not considered experienced ( 2.1 years average tenure), which suggests a new board.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/30 23:23 |
| End of Day Share Price | 2026/06/30 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
|
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
MilDef Group AB (publ) is covered by 4 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Mads Brinkmann Andersen | Berenberg |
| Daniel Lindkvist | Danske Bank |
| Hugo Lisjo | DNB Carnegie Commissioned Research |