Saab establishes a trade receivables sales programme
The defence and security company Saab has entered into a trade receivables sales programme in order to strengthen the financial position and increase financial flexibility.
In order to strengthen the financial position and optimize working capital Saab has entered into a rolling trade receivables sales programme, with an international bank. “Currently the defence market is subject to significant changes, which are affecting Saab, and therefore we want to strengthen our financial position. The cash generated through this programme will primarily be used to pay down existing debt and is another step to improve our cash flow and working capital,” says Saab’s CFO, Lars Granlöf. During 2009 Saab has the goal to sell trade receivables on a non-recourse basis worth about SEK 1.2 billion for selected customers with a strong credit rating. Each sale will generate a positive impact on operating cash flow and trade receivables of about MSEK 600 has been sold during the third quarter 2009. 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 Investor Relations, Ann-Sofi Jönsson +46 (0) 734 18 72 14 Saab Press Centre, +46 (0) 734 18 00 18 www.saabgroup.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 September 30 at 14.00.