Saab presents the results for January-
Statement by the President and CEO
The corona pandemic has continued to impact the world negatively and not least the global aviation industry. For Saab, the uncertainty surrounding Covid-19 has mainly been associated with supply chain disruptions within the company's business areas and the market conditions for the civil business. Due to the ongoing pandemic and drawn-out global recovery, Saab now sees an increased risk related to the effects of Covid-19.
In recent assessments, the future risks have increased foremost for business area Aeronautics. The prolonged pandemic and slow recovery is primarily affecting subcontractors and material supply for the Gripen E/F programme, with consequences for development, verification and production work.
The Gripen-programme is characterized by long lead times and small series where components must be certified for airworthiness, which means the assessment of future possible economic impact within Aeronautics has become increasingly uncertain. Saab has managed the increased risks by adjusting the project estimates, which affected the operating income negatively by
In connection with the interim report for the first quarter 2020, the outlook for organic sales growth and operating margin for the full-year could not be confirmed due to the great uncertainty caused by Covid-19. This still applies. The projection of a high delivery rate in the fourth quarter, including important milestone payments, have not changed, nor has our projection that operational cash flow for the full-year 2020 will be positive, excluding the state support package. Saab remains committed to its long-term financial goals in terms of growth and profitability.
Strong order bookings and continued internationalisation
In challenging times, Saab has continued to win important contracts. Order bookings increased by 8% in the quarter and by 27% in the first nine months of the year and amounted to
Stable sales and profitability affected by Covid-19
Sales in the first nine months of 2020 amounted to
Cash flow improvement in the quarter
Operational cash flow showed an improvement compared to the first nine months of 2019 and amounted to
Outlook statement for 2020
Due to uncertainty related to the scope and duration of COVID-19, it was stated in the first quarter interim report of 2020 that the previous forecast for the full-year 2020 could not be confirmed. Saab reiterates this assessment.
Financial highlights: See details at: https://www.saab.com/newsroom/press-releases/2020/saabs-results-january-september-2020
Presentation of Saab's results January -
Saab's CEO
Date: Monday, 19 October at 13.00 (CET).
You are welcome to watch the live webcast or dial in to the conference call. It is possible to ask questions on the conference call as well as post questions over the web.
Live webcast: http://saab-interimreport.creo.se/201021
Conference call:
Please, dial in using one of the numbers below.
The interim report, the presentation material and the webcast will be available on https://www.saab.com/investors
For further information, please contact:
Ann Wolgers, Press Officer
+46 (0)734 18 70 52
presscentre@saabgroup.com
+46 (0)73 418 20 71
www.saabgroup.com
www.saabgroup.com/YouTube
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Saab serves the global market with world-leading products, services and solutions within military defence and civil security. Saab has operations and employees on all continents around the world. Through innovative, collaborative and pragmatic thinking, Saab develops, adopts and improves new technology to meet customers' changing needs.
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