Order bookings amounted to MSEK 8,096 (12,955) and the order backlog to SEK 42.4 billion (48.6 billion)
Sales increased by 6 percent to MSEK 11,695 (11,025), an increase of 8 percent adjusted for divestments and exchange rate effects
Gross income amounted to MSEK 3,037 (3,045), corresponding to a gross margin of 26.0 percent (27.6)
Operating income was MSEK 622 (944), corresponding to an operating margin of 5.3 percent (8.6). Adjusted for non-recurring items, the operating margin was 4.9 percent (8.9). A change in the application of accounting principles for development costs as of January 1, 2009 contributed negatively by approximately 3 percentage points
Net income for the period was MSEK 265 (569), with earnings per share after dilution of SEK 2.46 (5.25)
The Billion+ program is progressing according to plan
The previous sales outlook for flat sales in 2009 has changed.
Outlook: 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.
“Saab received several important orders in key areas despite the financial turmoil and changes in the Swedish defence structure. The continued sales growth demonstrates our ability to meet project milestones and deliver advanced systems, products and services according to contractual plans. Ongoing efficiency improvements are progressing according to plan. Our long-term strategy to grow in markets outside Sweden and broaden the scope of our civil security operations remains a priority.’’
CEO Åke Svensson and CFO Lars Granlöf will present Saab’s quarterly report for January-March 2009 at a press and analysts meeting today, Friday July 24 at 10.00.
Following the announcement we are pleased to invite you to participate in an international teleconference at 16.00 (CET) which will be hosted by Åke Svensson, President and CEO, Lars Granlöf, CFO and Cecilia Schön Jansson, Head of Corporate Communications.
Press and analysts meeting
Friday July 24 at 10.00
World Trade Center, Conference center, floor 4 (Stockholm, Sweden)
Entrance via Klarabergsviadukten 70 or Kungsbron 1
Kindly respond to email@example.com, or fax +46 (0)8 463 01 52.
15.50 (CET) Call
+44 (0)207 108 6303 (if calling from Europe)
+1 866 676 5870 (if calling from the US)
+46 (0)8 506 269 30 (if calling from Sweden)
Request to be connected to Saab’s teleconference.
16.00 (CET) Review of the results, followed by questions and answers
Kindly respond to firstname.lastname@example.org, or fax +46 (0)8 463 0152.
You also have the possibility to follow the teleconference live on www.saabgroup.com. If you are unable to participate you can listen to the presentation from the teleconference afterwards and look at the slides on www.saabgroup.com.
There will also be a replay facility available 48 hours following the teleconference. The number to dial is:
+44 (0)207 750 9928 (if calling from Europe)
+1 718 354 1112 (if calling from the US)
Access code: 233841#
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
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 July 24 at 07.30.