Saab presents the results for January-March 2024.
– Saab began 2024 by delivering increased order intake, strong sales growth and improved profitability. I am satisfied with how we managed to implement our investments regarding capacity and recruitment in the quarter, and based on better visibility for deliveries and capacity increases, we are now raising our full-year forecast for organic sales growth, says Micael Johansson, president and CEO, Saab.
Highlights Q1 2024
- Order intake increased 9% and amounted to MSEK 18,495 (17,018), driven by strong growth in medium-sized orders.
- Sales in the quarter amounted to MSEK 14,185 (11,485) with an organic growth of 24%. All business areas and Combitech showed sales growth with strong contributions from Aeronautics and Surveillance.
- Operating profit (EBIT) increased 28% and amounted to MSEK 1,191 (928). The operating margin also improved to 8.4% (8.1), driven by the strong sales development.
- Profit for the period improved to SEK 784 million (735) and earnings per share increased to SEK 5.71 (5.45).
- The operational cash flow was MSEK -1,998 (3,072) in the quarter as a result of a high level of investments, inventory build-up and lower milestone payments.
- Net liquidity was SEK 0.8 billion (5.3) at the end of the period.
- Increased sales forecast for 2024: organic sales growth between 15-20% compared to previous forecast between 12-16%.
- The AGM decided on a dividend corresponding to SEK 6.40 per share (5.30) for the full year 2023 and a 4:1 split of Saab’s shares.
Presentation of Saab’s results Q1 2024
Saab’s President and CEO Micael Johansson and CFO and Deputy CEO Christian Luiga present Saab’s interim report for Q1 2024.
Date: Friday 26 April, at 10.00.
You are welcome to take part in the presentation via a live webcast or call in to a conference call. It is possible to ask questions in the conference call and via the web.
Live webcast: www.saab.com/investors/webcast/q1-2024.
Registration for conference call: www.saab.com/investors/conference-call-Q1.
The interim report, the presentation material and the webcast will be available afterwards at www.saab.com/investors.
Contact
Mattias Rådström
Press manager
+46 (0)734 180 018
[email protected]
Merton Kaplan
Head of Investor Relations
+46 (0)734 182 071
[email protected]
Saab is a leading defense and security company with a mission to help nations protect their populations and contributes to security for people and communities. With 22,000 talented employees, Saab develops technology and solutions for a safer and more sustainable world. Saab develops, manufactures and maintains advanced systems in avionics, weapons, command systems, sensors and underwater systems. Saab has its headquarters in Sweden, but a global operation where Saab is part of the defense capabilities of many nations.
The information is such that Saab AB is obliged to make public according to the EU’s market abuse regulation. The information was submitted, through the care of the above contact person, for publication on April 26, 2024 at 07.30 CET.
