Saab Q3 2023 results: Growth momentum in an evolving market
Saab presents the results for January-September 2023.
“The geopolitical tensions are impacting our industry and driving the largest increase in defence investments in the last 30 years, particularly in Europe. In the third quarter, high demand for Saab’s broad defence portfolio continued to result in significant order intake, strong sales growth and improved profitability,” says Micael Johansson, President and CEO, Saab.
Key highlights Q3 2023
- Order intake amounted to SEK 14,977m (7,772) with strong growth in all order sizes in the quarter.
- Sales increased to SEK 11,527m (8,751) with an organic growth of 31%, driven by growth in all business areas.
- EBITDA increased 28% and amounted to SEK 1,424m (1,115), corresponding to an EBITDA margin of 12.4% (12.7).
- Operating income (EBIT) increased 51% and amounted to SEK 859m (568). The EBIT margin was 7.5% (6.5) with improvements in several business areas in the quarter.
- Net income for the period increased to SEK 656m (324) and earnings per share amounted to SEK 4.84 (2.28).
- Operational cash flow in the quarter was SEK -2,058m (559) mainly due to timing of customer payments combined with higher investments.
- Net liquidity position in the quarter was SEK 1.4 bn (0.4).
- Upgraded outlook for organic sales growth 2023: organic sales growth to be between 19-23%, compared to previous outlook of 16-20%.
For more information and explanations of the above key ratios, please see www.saab.com/investors/financials/financial-data.
Presentation of Saab’s Q3 results 2023
Saab’s CEO and President Micael Johansson and CFO and deputy CEO Christian Luiga will present Saab’s interim report for Q3 2023.
Date: Thursday 26 October 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/q3-2023.
Conference call:
Please dial in using one of the numbers below.
Sweden: +46 (0) 8 5051 0031
United Kingdom: +44 (0) 207 107 0613
United States: +1 (1) 631 570 5613
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
presscentre@saabgroup.com
Merton Kaplan
Head of Investor Relations
+46 (0)734 182 071
merton.kaplan@saabgroup.com
Saab is a leading defence and security company with an enduring mission, to help nations keep their people and society safe. Empowered by its 20,000 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. The information was submitted for publication, through the agency of the contact person set out above, on 26 October 2023 at 07.30 (CET).
