Saab Q1 2023 results - In a time of high demand
Saab presents the results for January-March 2023.
“Saab delivered strong growth and financial performance in the first quarter of 2023. Demand in our markets remained high and our customer base is growing. Saab’s position with a unique product portfolio, technology and multi-domestic approach has further strengthened the company in Europe and within NATO. What we do today is more important than ever. In the quarter, we welcomed over 500 new employees and I am confident that together we will all make Saab an even stronger company,” says Micael Johansson, President and CEO, Saab.
Key highlights Q1 2023
- Order intake amounted to SEK 17,018m (8,115) with strong increases in Dynamics and Surveillance.
- Sales amounted to SEK 11,485m (9,218) with an organic growth of 23%, driven by most business areas.
- Operating income increased 42% and amounted to SEK 928m (654), with an operating margin of 8.1% (7.1).
- The operating results included a capital gain of SEK 270m from the divestment of the MTM business, and write-downs in Saab’s minority portfolio of SEK -260m.
- Net income for the period amounted to SEK 735m (372) and earnings per share was SEK 5.45 (2.66).
- Operational cash flow in the quarter improved to SEK 3,072m (-179) due to pre-payments from new customer contracts.
- Net liquidity position in the quarter was SEK 5.3bn (-1.4), enabling flexibility to execute on future opportunities.
- Reiterating the full year 2023 outlook on organic sales growth, EBIT growth and operational cash flow.
- The AGM decided on a dividend of SEK 5.30 (4.90) per share for the fiscal year 2022.
For more information and explanations regarding the usage of these key ratios, please see www.saab.com/investors/financial-data/key-ratios.
Q1 2023 Presentation
Saab’s CEO and President Micael Johansson and CFO and deputy CEO Christian Luiga will present Saab’s interim report for Q1 2023.
Date: Wednesday 26 April at 10.00 a.m. (CET).
You are welcome to watch the live webcast or dial in to the conference call. It is possible to post questions over the conference call and the web.
Live webcast: www.saab.com/investors/webcast/q1-2023.
Please dial in using one of the numbers below.
Sweden: +46 (0) 8 5051 0031
United Kingdom: +44 (0) 207 107 06 13
United States: +1 (1) 631 570 56 13
The interim report, presentation material and the webcast will be available on www.saab.com/investors.
Mattias Rådström, Head of Media Relations
+46 (0)734 180 018
Merton Kaplan, Head of Investor Relations
+46 (0)734 182 071
Saab is a leading defence and security company with an enduring mission, to help nations keep their people and society safe. Empowered by its 19,000 talented people, Saab constantly pushes the boundaries of technology to create a safer, more sustainable and more equitable world. Saab designs, manufactures and maintains advanced systems in aeronautics, weapons, command and control, sensors and underwater systems. Saab is headquartered in Sweden. It has major operations all over the world and is part of the domestic defence capability of several nations.
The information is such that Saab AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on 26 April 2023 at 07.30 (CET).