Order bookings amounted to MSEK 11,381 (16,050) and the order backlog to SEK 40.3 billion (46.7 billion)
Sales rose by 8 percent to MSEK 16,879 (15,608), an increase of 9 percent adjusted for divestments and exchange rate effects
Gross income amounted to MSEK 4,252 (3,990), corresponding to a gross margin of 25.2 percent (25.6)
Operating income was MSEK 871 (975), corresponding to an operating margin of 5.2 percent (6.2). Adjusted for non-recurring items, the operating margin was 4.9 percent (5.9). The operating margin was reduced by approximately 3 percentage points during the first nine months due to the more conservative view on the application of accounting for development costs as of January 1, 2009
Net income for the period was MSEK 376 (466), with earnings per share after dilution of SEK 3.42 (4.36)
Revised outlook for 2009*: For the full-year 2009, sales will increase by about 5 percent when compared to 2008
* The previous outlook for 2009:
Saab’s future development is dependent on Swedish defence plans and will continue to be affected by the global economy. Saab is therefore facing uncertainties in its business environment. For the full year 2009 sales will increase compared to 2008, however we remain cautious in our outlook for the full year. The operating margin will be reduced by about 4 percentage points due to our more conservative accounting for development costs.
Statement by the CEO
“The Swedish defence plans and the global economic environment is important for Saab’s future development. During the first nine months we saw delays in customer decision-making processes globally, which impacted larger order bookings. At the same time, we saw a steady inflow of small and medium-sized orders and we signed important strategic contracts, including Public-Private Partnership agreements with the Swedish Armed Forces.
Continued strong sales growth has led us to improve our outlook for 2009.
Our focus on improving profitability and cash flow remains. During the third quarter, we presented a new management and operational structure aimed at strengthening our market focus and product portfolio and creating a more efficient organisation. Preparations for the new
organisation, which will be implemented as of January 1, 2010, are under way,” says CEO Åke Svensson.
The result will be presented in a press conference by CEO Åke Svensson and CFO Lars Granlöf.
Press and analysts meeting
Friday October 23 at 10.00
World Trade Center, Conference center, floor 4 (Stockholm, Sweden)
Entrance via Klarabergsviadukten 70 or Kungsbron 1
Kindly respond to firstname.lastname@example.org, or fax +46 (0)8 463 01 52.
The press and analyst meeting will be webcasted live at Saab’s web site, www.saabgroup.com/en/InvestorRelations. The presentation will also be published there. All viewers will be able to post questions to the presenters.
Saab serves the global market with world-leading products, services and solutions ranging from military defence to civil security. Saab has operations and employees on all continents and constantly develops, adopts and improves new technology to meet customers’ changing needs.
For further information, please contact:
Saab Press Centre, +46 (0)734 180 018
Ann-Sofi Jönsson, Head of Investor Relation, +46 (0)734 187 214
For streaming and broadcast-standard video, please visit www.thenewsmarket.com/saab . If you are a first-time user, please take a moment to register. In case you have any questions, please e-mail email@example.com.
The information is that which Saab AB is required to declare by the Securities Business Act and/or the Financial instruments Trading Act. The information was submitted for publication on October 23 at 07.30.