Interim Report January - March 2003

January - March 2003

· Order bookings during the first quarter were SEK 6 billion and
order backlog amounted thereby to more than SEK 45 billion.
· Sales SEK 4,033 m. (3,530), an increase of 14%.
· Operating income SEK 226 m. (146) and income after financial items
SEK 178 m. (98).
· Earnings per share SEK 1.12 (0.73).

Statement by the CEO

"The underlying demand in our markets is growing and Saab continues to
grow with it. Both order bookings and sales have increased compared with
the corresponding period last year and order backlog is now on a record
level of 45 billion SEK, corresponding to almost three years of sales.
The largest single order during the quarter came from Hungary, which
expanded the leasing deal already signed with the Swedish Government.
For our part, this means a further 2 billion SEK in modification orders,
making a total of 3 billion SEK. Gripen has thus established its
breakthrough in the NATO market.

Other important orders during the first quarter included laser simulator
systems for helicopters and extensive export orders for anti-armor
weapons. Order bookings continue to be dominated by contracts from
customers outside Sweden and the share of foreign market contracts in
the order backlog rose to 62 per cent.

As already mentioned, notice of personnel cutbacks in the underwater
sector has been issued during the first quarter as a result of a
diminishing workload. There is also a need to adapt resources in other
areas, especially at SaabTech and Aerospace, partly because that few
domestic development programs have been started during the last few

As a result of the normal variation in income over the year and the
costs we have incurred for structural measures in the underwater sector,
income for the first quarter has, as expected, been relatively weak also
this year. However, in line with my earlier assessment, I expect
continued growth as well as improvement in operating income and margin
for the whole year, although the margin will probably not reach our long-
term 10 percent objective until next year."

For further information, please contact:
Agneta Kammeby, Manager Investor Relations tel. +46 13 18 71 25
Iréne Svensson, Senior Vice President,
Corporate Communications tel. +46 8 463 01 30

Press conference with CEO Bengt Halse:
Today Monday April 14, 10.30, World Trade Center, Stockholm

Telephone interview with CEO Bengt Halse:
Today Monday April 14, approx. 11.30 - 12.00 tel.+46 13 18 71 49
Contact Marita Sidén tel.+46 70 889 7038

International teleconference:
Today Monday April 14, 13.00 (CET). tel. +46 13 18 71 49
Contact Marita Sidén for registration and tel.+46 70 889 7038
further information.

The Interim report can also be accessed on the Internet at

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