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Tag: SAABb

Saab receives Gripen order from Hungary

February 23, 2024 /

SAAB AB (Stockholm: SAABb) has today signed a contract with the Swedish Defence Materiel Administration (FMV) and received an order for four additional Gripen C fighter aircraft for Hungary.

This order follows an amendment to the contract between FMV and the Hungarian Government signed in December 2001 regarding 14 Gripen C/D fighters for the Hungarian Air Force. The contract amendment for the four additional aircraft was signed by the Hungarian Ministry of Defence and FMV on 23 February 2024. With this new contract amendment, Hungary will operate a total of 18 Gripen C/D aircraft to protect and defend the Hungarian and NATO airspace.

Saab currently has a contract with FMV regarding support for Hungary’s Gripen aircraft, and Saab is ready to provide additional upgrades and support for the Hungarian fighters beyond 2035.

Saab and the Hungarian Ministry of Defence have also signed an MoU regarding development of high-tech industrial areas and fighter aircraft capabilities. The cooperation includes support for the establishment of a Centre of Excellence for VR technologies in Hungary.

Forward-Looking Statements

This press release may contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including expected delivery dates. Such statements are based on current expectations and projections about our future results, prospects and opportunities and are not guarantees of future performance. Such statements will not be updated unless required by law. Actual results and performance may differ materially from those expressed or forecasted in forward-looking statements due to a number of factors, including those discussed in our filings with the Securities and Exchange Commission.

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Saab Q3 2023 results: Growth momentum in an evolving market

October 27, 2023 /

Saab AB (Stockholm: series B: SAABb)President and CEO Micael Johansson says “The geopolitical tensions are impacting our industry and driving the largest increase in defence investments in the last 30 years, particularly in Europe. In the third quarter, high demand for Saab’s broad defence portfolio continued to result in significant order intake, strong sales growth and improved profitability.”

Key highlights Q3 2023

  • Order intake amounted to SEK 14,977m (7,772) with strong growth in all order sizes in the quarter.
  • Sales increased to SEK 11,527m (8,751) with an organic growth of 31%, driven by growth in all business areas.
  • EBITDA increased 28% and amounted to SEK 1,424m (1,115), corresponding to an EBITDA margin of 12.4% (12.7).
  • Operating income (EBIT) increased 51% and amounted to SEK 859m (568). The EBIT margin was 7.5% (6.5) with improvements in several business areas in the quarter.
  • Net income for the period increased to SEK 656m (324) and earnings per share amounted to SEK 4.84 (2.28).
  • Operational cash flow in the quarter was SEK -2,058m (559) mainly due to timing of customer payments combined with higher investments.
  • Net liquidity position in the quarter was SEK 1.4 bn (0.4).
  • Upgraded outlook for organic sales growth 2023: organic sales growth to be between 19-23%, compared to previous outlook of 16-20%.

For more information and explanations of the above key ratios, please see www.saab.com/investors/financials/financial-data.

 

 

 

 

 

 

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Saab receives Carl-Gustaf order from Japan

October 20, 2023 /

SAAB AB (Stockholm: SAABb) has received an order from the Japan Self-Defense Forces, JGSDF, for the supply of the man-portable, multi-role weapon system Carl-Gustaf®. The order includes over 300 systems and deliveries will take place in 2025.

Carl-Gustaf is a man-portable multi-role weapon system that provides high tactical flexibility through its wide range of ammunition types. It is extremely light-weight, and has established itself as the main shoulder launched weapon in many countries. It has been in use with the Japan Self-Defense Forces since 1979.

Proven to deliver results on the battlefield, Carl-Gustaf provides the effectiveness soldiers need. The wide range of ammunition types for Carl-Gustaf makes it flexible and able to handle any situation, whether it is to defeat an armoured vehicle or structure, or illuminating the battlefield during night operations.

The Carl-Gustaf system has a long and distinguished history, which stretches back to 1948, and is now supplied to more than 40 countries around the world.

 

 

 

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Saab unveils first airborne surveillance system for Poland

October 1, 2023 /

Saab AB (Stockholm: SAABb) has presented the first Saab 340 Airborne Early Warning (AEW) aircraft to the customer during a ceremony in Linköping. The event took place in Linköping on 29 September, just two months after Poland placed an order for two AEW aircraft.

Guests from Sweden and Poland attended the event, which marked a milestone towards the rapidly proceeding delivery to Poland of the Saab 340 AEW equipped with the Erieye radar. The solution will provide Poland’s Armed Forces with a national asset to reinforce territorial integrity and national security.

The fast pace is a result of the efficient collaboration between Saab and the Polish Armed Forces and the fact that Saab has an ongoing production line for airborne early warning solutions. This includes dedicated personnel and in-house expertise to perform all kinds of tests and evaluations for the necessary approval of the systems.

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