Saab's results for January-September 2011
Defence and security company Saab presents the results for
January-September 2011.
Results January-September 2011
• Order bookings amounted to MSEK 13,793 (14,378) and the order backlog
at the end of the period amounted to MSEK 39,411 (37,451)
• Sales amounted to MSEK 16,151 (16,381), a decrease of one per cent
adjusted for exchange rates effects and acquisitions
• Gross income amounted to MSEK 4,451 (3,951), corresponding to a gross
margin of 27.6 per cent (24.1)
• Operating income was MSEK 2,282 (724), corresponding to an operating
margin of 14.1 per cent (4.4). Capital gains are included with MSEK
1,169 (-10)
• Net income was MSEK 1,798 (434), with earnings per share after
dilution of SEK 16.60 (3.89)
• Operating cash flow amounted to MSEK 2,260 (2,149)
The outlook for 2011 has changed:
In 2011, we estimate that sales will decline slightly compared to 2010,
including the acquisition of Sensis.
The operating margin, excluding material net capital gains, is expected
to increase slightly in 2011 compared to the adjusted operating margin
2010 of 6.5 per cent, including the acquisition of Sensis.
Previous outlook:
In 2011, we estimate that sales will decline slightly compared to 2010.
The operating margin, excluding material net capital gains, is expected
to increase slightly in 2011 compared to the adjusted operating margin
2010 of 6.5 per cent.
Financial highlights
MSEK
Jan-Sept 2011 Jan-Sept 2010 change, % Jul-Sept 2011 Jul-Sept 2010
Jan-Dec 2010
Order bookings
13,793 14,378 -4 3,147 3,862
26,278
Order backlog
39,411 37,451 5 -1,246** -1,408**
41,459
Sales
16,151 16,381 -1 4,838 5,004
24,434
Gross income 4,451
3,951 13 1,411 1,239 5,591
Gross margin, % 27.6
24.1 29.2 24.8 22.9
Operating income (EBIT) 2,282
724 215 1,217 322 975
Operating margin, % 14.1
4.4 25.2 6.4 4.0
Net income 1,798
434 314 1,103 188 454
Earnings per share before dilution, SEK 17.27
4.03 10.55 1.70 4.12
Earning per share after dilution, SEK 16.60
3.89 10.15 1.64 3.97
Return on equity *, % 15.2
7.0 - - 4.1
Operating cash flow 2,260
2,149 5 -74 -84 4,349
Operating cash flow per share after dilution, SEK 20.71
19.69 -0.67 -0.77 39.84
* The retrun on equity is measured over a rolling 12-month period
** Refer to quarterly change
Statement by the President and CEO, Håkan Buskhe
"We kept a strong focus on driving efficiency improvements during the
first nine months and secured important orders in strategic markets as
well as strengthened our presence in for example North America, India,
Brazil and the UK.
The acquisition of Sensis has strengthened our organization with wider
market presence, especially in the US, and enhanced our product
portfolio. Actions to capture synergies of the merged organizations are
ongoing.
Market conditions are demanding, and defence budgets are being
scrutinized in light of financial uncertainty, especially in Europe and
the U.S. The potential impact from the uncertain market conditions is
hard to assess and therefore it is important that we continue to build a
readiness if the business climate further weakens.
At the same time, the market conditions creates both challenges and
opportunities for Saab. We have for years focused on offering cost
efficient products, solutions and services that can be bought off the
shelf. We aim to achieve more with less.
Our focus going forward is to create profitable growth and to
continuously assess our business portfolio. We need to grow organically
as well as actively carry out structural activities in order to ensure
future growth.
Our strong financial position is a competitive advantage in the current
environment and we view it appropriate to remain in a net cash
position," says Saab's President and CEO Håkan Buskhe.
Press and analyst meeting
Press and financial analysts are invited to a press and analyst meeting
where CEO Håkan Buskhe together with CFO Lars Granlöf present the
results for January-September 2011.
Wednesday 19 October, 10.00 am C.E.T.
Grand Hôtel, Blaiseholmshamnen 8, Stockholm. Conference room Bolinderska
rummet.
R.S.V.P:
E-mail: karin.frisk@saabgroup.com (karin.frisk@saabgroup.com)
Phone: +46 8 463 02 30
Live webcast
If you are unable to attend in person, please
visit www.saabgroup.com/en/About-Saab/Investor-relations where a live
webcast of the presentation 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.
Fot further information, please contact:
Saab Press Centre, +46 (0)734 180 018
Saab Investor Relations, Ann-Sofi Jönsson, +46 (0)734 18721
www.saabgroup.com (http://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.
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 October 19 at 07.30.
Saab's results for January-September 2011
| Source: SAAB AB
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