Saab Q2 2023 results: Capacity and delivery in focus
Saab presents the results for January-June 2023
“Our order bookings and sales continued to have a strong momentum in the second quarter. With an ambitious growth path ahead of us, meeting our customer commitments and deliveries is crucial for Saab’s success. We are currently putting relentless effort into project execution, deliveries and capacity, which in turn is driving sales growth,” says Micael Johansson, President and CEO, Saab.
Key highlights Q2 2023
- Solid order intake amounting to SEK 14,315m (17,363) with strong growth in medium-sized orders in the quarter. Q2 last year included a GlobalEye order from Sweden of SEK 7.3bn.
- Sales increased to SEK 12,475m (10,171) with an organic growth of 22%, driven by high pace in project activity across all business areas.
- EBITDA amounted to SEK 1,618m (1,255) with a margin of 13.0% (12.3).
- Operating income (EBIT) increased 44% and amounted to SEK 1,065m (738) with a margin of 8.5% (7.3). Excluding items affecting comparability of SEK 34m, the margin was 8.3%.
- Net income for the period amounted to SEK 798m (433) and earnings per share increased to SEK 5.76 (3.15).
- Operational cash flow in the quarter declined to SEK -1,548m (531) and was due to higher outflow of supplier payments. The operational cash flow for H1 2023 was SEK 1,524m (352).
- Net liquidity position in the quarter was SEK 3.7bn (-0.1).
- Upgraded outlook for organic sales growth 2023: organic sales growth to be between 16-20%, compared to previous outlook of around 15%.
For more information and explanations of the above key ratios, please see www.saab.com/investors/financial-data/key-ratios.
Q2 2023 Presentation
Saab’s CEO and President Micael Johansson and CFO and deputy CEO Christian Luiga will present Saab’s interim report for Q2 2023.
Date: Thursday 20 July at 10.00 a.m. (CET).
You are welcome to watch the live webcast or dial in to the conference call. It is possible to post questions over the conference call and from the webcast page.
Live webcast: www.saab.com/investors/webcast/q2-2023.
Conference call:
Please dial in using one of the numbers below.
Sweden: +46 (0) 8 5051 0031
United Kingdom: +44 (0) 207 107 06 13
United States: +1 (1) 631 570 56 13
The interim report, presentation material and the webcast will be available on www.saab.com/investors.
Contacts
Mattias Rådström
Head of Media Relations
+46 (0)734 180 018
[email protected]
Merton Kaplan
Head of Investor Relations
+46 (0)734 182 071
[email protected]
Saab is a leading defence and security company with an enduring mission, to help nations keep their people and society safe. Empowered by its 19,000 talented people, Saab constantly pushes the boundaries of technology to create a safer, more sustainable and more equitable world. Saab designs, manufactures and maintains advanced systems in aeronautics, weapons, command and control, sensors and underwater systems. Saab is headquartered in Sweden. It has major operations all over the world and is part of the domestic defence capability of several nations.
The information is such that Saab AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, on 20 July 2023 at 07.30 (CET).
