Saab's result for January-March 2010

Saab's result for January-March 2010

Defence and security company Saab releases the Interim Report for January-March
2010. 

Results January-March 2010:
• Order bookings increased to MSEK 5,478 (4,101) and the order backlog at the
end of the period amounted to SEK 39.6 billion (44.2 billion)
• Sales amounted to MSEK 5,384 (5,412), with marginal exchange rate effects
• Gross income amounted to MSEK 1,271 (1,365), corresponding to a gross margin
of 23.6 percent (25.2). Adjusted for non-recurring items, the gross margin was
24.4 percent (25.2)
• Operating income was MSEK 126 (150), corresponding to an operating margin of
2.3 percent (2.8). Adjusted for non-recurring items, the operating margin was
3.1 percent (2.8)
• A charge of MSEK 160 (including MSEK 20 write-down of capitalised development
costs) was taken for projects within Security and Defence Solutions
• Net income for the period was MSEK 72 (-27), with earnings per share after
dilution of SEK 0.63 (-0.24)
• Operating cash flow amounted to MSEK -73 (-456) 


Outlook for 2010 remains unchanged:
We remain cautious regarding order intake and foresee sales on the same level as
2009.
Due to the effect of continued business improvement activities we expect
profitability to increase.
Our long-term financial targets remain.


Statement by the CEO:
“The global economic environment continues to impact Saab's markets negatively,
and we still see delays in customers' decision-making processes. During the
first quarter we received significant orders from FMV* for the continued
development of the Gripen system, which confirms Sweden's long-term commitment.

Sales were on the expected level, but a provision for project overruns within
Security and Defence Solutions has had a negative impact on profitability. Our
outlook for the Group for 2010 remains unchanged.

Going forward, we will continue to focus efforts on strengthening our
world-class technology base, winning new orders and providing value to our
customers and shareholders. We will leverage on our strategic priorities to
increase our market focus, create a more focused portfolio and more efficient
operations. The results from our execution against these targets are visible in
the organisation and we continue to follow our plans”, says President and CEO
Åke Svensson.

*The Swedish Defence Materiel Administration


Press and analysts meeting
Press and analysts are invited to a presentation of the Interim Report by CEO
Åke Svensson and CFO Lars Granlöf. The meeting is held in Stockholm at Nordic
Sea Hotel, Vasaplan 4, conference room ”Maskinrummet”, on Wednesday April 21 at
10.00 a.m. CET.

Live webcast
If you are unable to attend in person, please visit
http://www.saabgroup.com/en/InvestorRelations where a live webcast will be
available together with the presentation material. All viewers will be able to
post questions to the presenters. The webcast will also be available at Saab's
website afterwards.



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The information is that which Saab AB is required to declare by the Securities
Business Act and/or the Financial instruments Trading Act. The information was
submitted for publication on April 21 at 07.30.

For further information, please contact:
Saab Investor Relations, Ann-Sofi Jönsson, +46 (0)734 187 214
Saab Press Centre, +46 (0)734 180 018

www.saabgroup.com

Saab serves the global market with world-leading products, services and
solutions ranging from military defence to civil security. Saab has operations
and employees on all continents and constantly develops, adopts and improves new
technology to meet customers' changing needs.