January - June 2003
· Sales SEK 8,273 m. (8,284).
· Net income amounted to SEK 240 m. (263).
· Earnings per share SEK 2.25 (2.47).
· Order bookings during the first half-year were more than SEK 12
billion, of which SEK 6 billion in the second quarter. Order backlog
amounted thereby to a record level SEK 47 billion.
· Operating income SEK 441 m. (474) and income after financial items
SEK 362 m. (374).
· Operating cash flow amounted to SEK 733 m. (373).
Statement by the CEO
"Saab continues to enjoy good order bookings, totaling more than 12
billion SEK during the first six months of this year. This means that
the order backlog is now at a record level of 47 billion SEK,
corresponding to almost three years invoicing. The largest single order
during the second quarter came from Airbus, with whom we have now signed
the final agreement for the fixed leading edge on the A380 wing. During
the quarter, we have also made on schedule delivery of the first
leading edge to Airbus UK, part of a project in which Saab has been
engaged since the concept studies in 1997.
Examples of other important orders during the second quarter are the
Australian order for an air defense system, several British orders for
laser simulators and the Swedish order for new remotely operated
underwater vehicles for mine clearing and other purposes. Order bookings
continue to be dominated by orders from customers outside Sweden, whose
share of the order backlog increased to 62%.
During the second quarter, Saab submitted together with Ericsson, IBM
and Boeing a tender to FMV for building the future Swedish network-based
As already mentioned, the second quarter has seen further notices of
personnel cutbacks within the Group. During the year, 800 persons have
been given notice of redundancy as a result of weakening workload,
primarily due to the few domestic development programs started in recent
The customary variation over the year and the costs of structural
measures during both the first and second quarters resulted in income
during the first six months being somewhat lower than in the same period
last year. However, in line with my earlier assessment, I still expect
continued growth as well as improvement in operating income and
operating margin for the whole year.
On Monday 14 July, Åke Svensson will take over the helm at Saab, a duty
for which he is outstandingly well suited. I view the change of captain
with great confidence and wish Åke every success with an exciting,
innovative and capable company."
For further information, please contact:
Agneta Kammeby, Manager Investor Relations tel. +46 1318 71 25
Iréne Svensson, Senior Vice President,
Corporate Communications tel. +46 8 463 01 30
Telephone interview with CEO Bengt Halse:
Today Wednesday July 9, approx. 13.00 tel.+46 13 1871 49
Contact Marita Sidén tel.+46 734 18 71 49
Today Wednesday July 9, 13.30 (CET). tel. +46 1318 71 49
Contact Marita Sidén for registration and further information. tel.+46734 18 71 49
The Interim report can also be accessed on the Internet at www.saab.se
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