Saab - Results and summary January-December 2009

Saab - Results and summary January-December 2009

Defence and security company Saab presents the result for 2009.

Results January-December 2009:
Order bookings amounted to MSEK 18,428 (23,212) and the order backlog at
year-end amounted to SEK 39.4 billion (45.3 billion)

Sales rose by 4 percent to MSEK 24,647 (23,796), also adjusted for divestments
and exchange rate effects

Gross income amounted to MSEK 6,137 (4,634), corresponding to a gross margin of
24.9 percent (19.5). Adjusted for non-recurring items, the gross margin was 24.6
percent (26.5)

Operating income was MSEK 1,374 (166), corresponding to an operating margin of
5.6 percent
(0.7). Adjusted for non-recurring items, the operating margin was 5.4 percent
(8.4). The operating margin was reduced by approximately 3 percentage points
during 2009 due to the more conservative view on the application of accounting
for development costs as of 1 January 2009

Net income for 2009 was MSEK 699 (-242), with earnings per share after dilution
of SEK 6.28 
(-2.31)

Operating cash flow amounted to MSEK 1,447 (659)

Proposed dividend of SEK 2.25 per share (1.75)



Results October-December 2009:
Order bookings amounted to MSEK 7,047 (7,162)

Sales declined by 5 percent to MSEK 7,768 (8,188), a decrease of 7 percent
adjusted for divestments and exchange rate effects

Gross income amounted to MSEK 1,885 (644), corresponding to a gross margin of
24.3 percent (7.9). Adjusted for non-recurring items, the gross margin was 24.3
percent (27.9)

Operating income was MSEK 503 (-809), corresponding to an operating margin of
6.5 percent 
(-9.9). Adjusted for non-recurring items, the operating margin was 6.5 percent
(13.2). The operating margin was reduced by approximately 3 percentage points
during the period due to the more conservative view on the application of
accounting for development costs as of 1 January 2009

Net income for the fourth quarter was MSEK 323 (-708), with earnings per share
after dilution of SEK 2.87 (-6.78)



Outlook for 2010:
We remain cautious regarding order intake and foresee sales on the same level as
2009.

Due to the effect of continued business improvement activities we expect
profitability to increase.

Our long term financial targets remain.



Statement by the CEO
“The global economic environment impacted Saab's markets during 2009. Postponed
customer decision-making delayed larger orders, while the stream of smaller and
medium sized orders continued.

Sales grew driven by increased project activities, but gross margin was reduced
due to the business mix and some project overruns. However, the efficiency
improvement initiatives delivered cost reductions according to plan.

Our strategy is to create a stronger market focus with a more streamlined
business portfolio. To enable the execution of our strategy and further increase
efficiency, a new organisational structure is operational as of 1 January 2010.

We remain cautious regarding order intake and foresee sales on the same level as
2009. Due to the effect of continued business improvement activities we expect
profitability to increase. Our long term financial targets remain”, says CEO Åke
Svensson.



Press and analysts conference
The result will be presented in a press conference by CEO Åke Svensson and CFO
Lars Granlöf.

Friday February 12 at 10.00
World Trade Center, Conference center, floor 4 (Stockholm, Sweden) 
Entrance via Klarabergsviadukten 70 or Kungsbron 1 
Kindly respond to annika.widell@saabgroup.com, or fax +46 (0)8 463 01 52.

Live webcast
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. 

 





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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 February 12 at 07.30.

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


www.saabgroup.com

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.