Saab Q2 2024 results: Strong order intake and continuous focus on capacity increases
Saab presents the results for January-June 2024.
“In the quarter, Saab recorded a strong order intake of SEK 40 billion, the second highest quarter in the company’s history. Our portfolio is uniquely positioned and we are strengthening our market presence. We are also continuing our uplift in investments for additional capacity and are fully focused on securing competences and increasing our workforce,” says Micael Johansson, President and CEO, Saab.
Key highlights Q2 2024
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Order bookings amounted to SEK 39,574m (14,315) with several large contracts signed and booked in the quarter.
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Sales increased 22% and amounted to SEK 15,170m (12,475), driven by growth in all business areas and Combitech.
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EBIT increased 25% and amounted to SEK 1,331m (1,065). The EBIT margin increased to 8.8% (8.5), driven by improved profitability across the business areas and Combitech.
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Net income increased by 27% to SEK 1,012m (798).
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Earnings per share improved to SEK 1.85 (1.44), where the number of shares has been adjusted according to the 4:1 share split implemented in the quarter.
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Operational cash flow in the quarter was SEK -2,251m (-1,548) and related to timing of customer payments.
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Net debt position was SEK 2.4bn (-3.7) at the end of the period.
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The full year 2024 outlook on organic sales growth, EBIT growth and positive operational cash flow is reiterated.
Presentation of Saab’s Q2 2024 results
Saab’s CEO and President Micael Johansson, and CFO and deputy CEO Christian Luiga will today present Saab’s Saab interim report for Q2 2024.
Date: Friday 19 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/q2-2024
Register for conference call:
www.saab.com/investors/conference-call-q2
The interim report, presentation material and webcast will be available at: 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 22,000 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 19 July 2024 at 07.30 (CET).
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