Saab presents results for January-
Highlights Q2 2021
- Orders increased by 7% and the order book amounted to
96.7 billion Swedish kronor.
- Organic sales growth of 15% driven by high project activity and deliveries.
- EBITDA increased by 19% to reach
SEK 1,196m(1,004), i.e. a margin of 11.8% (11.4).
- The operating result improved by 10% and amounted to
SEK 715m(652), corresponding to a margin of 7.1% (7.4), including the costs of the resizing measures of 85 million Swedish kronor.
- The operating cash flow was
3,152m SEK(1,817) due to significant milestone payments received during the quarter.
- New organizational structure including the Operational Excellence function effective from
July 1, 2021.
- Changed outlook: organic sales growth for full year 2021 at around 10% (previous outlook was organic sales growth in line with long-term target of 5%).
Strong sales growth and positive cash flow
Activity in the defense market remained favorable in the second quarter and demand in our main markets remained good. This benefits Saab’s growth both internationally and
During the quarter, orders continued to grow and increased by 7%, amounting to
We got a
Organic sales increased 15% in the quarter thanks to a high level of activity and deliveries in our defense projects. The civil aviation activity continues to record a decline in its sales. Five of the six business areas showed improved volumes. In the first half of the year, we recorded organic sales growth of 15%. Combined with our strong order book for this year, we are now increasing our prospects for organic sales growth in 2021 to around 10%.
Strong sales for the quarter positively contributed to earnings and EBITDA increased 19%, which translates to a margin of 11.8% (11.4). The operating result increased by 10% and was
The uncertainty of the pandemic, along with ongoing travel and other restrictions, continue to impact predictability. It also has an impact on some areas of the supply chain, however, we continue to have a close dialogue with our suppliers to mitigate the effects.
The operating cash flow for the quarter improved considerably and amounted to
A commitment to society has been at the heart of Saab’s business since its founding, helping nations keep people and society safe. In our commitment to contribute to a sustainable society, we also actively work to reduce the environmental impact of our operations, value chain and products.
During the first half of the year, a group-wide project to identify and prioritize climate-related risks and opportunities was carried out, through the
To visualize our progress in our sustainability work, in this interim report we have started to describe our progress in sustainability. I have no doubts that Saab is well positioned in its quest to create long-term sustainable value for all of our stakeholders and for society as a whole.
||Switch, %||Q2 2021||Q2 2020||Switch, %||Full year 2020|
|Order reservations||15,746||14,070||12||9 875||9,247||7||42,328|
|Backlog||96 714||90,458||7||99 816|
|Sales||19 219||16 876||14||10 131||8 836||15||35,431|
|Gross revenue||4,047||3,711||9||2,113||1,831||15||5 676|
|Gross margin, %||21.1||22.0||20.9||20.7||16.0|
|Operating result (EBIT)||1312||1212||8||715||652||ten||1315|
|of which shareholder participation of the Parent Company||897||855||5||505||521||-3||1,073|
|Earnings per share after dilution, SEK||6.73||6.40||3.78||3.90||8.01|
|Return on equity,% ¹⁾||5.2||10.0||5.1|
|Operating cash flow||2 992||235||3 152||1,817||2,773|
|Free movement of capital||2,763||22||3,028||1,722||3 753|
|Diluted free cash flow per share, SEK||20.72||0.16||22.69||12.89||28.03|
|Average number of shares after dilution||133 351 912||133 690 023||133,446,047||133 625 118||133 877 141|
|¹⁾ Return on equity is measured over a rolling 12-month period.|
For more information and explanations regarding the use of these key ratios, please see http://saab.com/investors/financial-data/key-ratios/
Saab Interim Report January-
CEO and Chairman of Saab
Dated: Wednesday July 21 at 10:00 a.m. (CET).
The report is published on
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Saab serves the global market with leading products, services and solutions in the fields of military defense and civil security. Saab has operations and employees on all continents of the world. Through innovative, collaborative and pragmatic thinking, Saab develops, adopts and improves new technologies to meet changing customer needs.
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