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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.

 

 

 

 

 

 

Hola

Fiji Airways Marks Significant Sustainability Milestone

September 4, 2023 /

Fiji Airways, Fiji’s National Airline, is proud to announce a significant milestone on our journey towards a more sustainable future for aviation.

Today, Fiji Airways’ newest Airbus A350-900 XWB aircraft, named the Island of Vatulele, arrived into Nadi, Fiji from Singapore, having flown the entire 8,520 km journey powered by a Sustainable Aviation Fuel (SAF) blend.

This is the first time ever that Fiji Airways has operated a flight using a SAF blend.

Mr. Andre Viljoen, Fiji Airways Managing Director and CEO, said that this inaugural SAF blend – powered flight demonstrates Fiji Airways’ commitment to reducing its carbon footprint and ensuring a sustainable future for aviation.

 

 

Mitsubishi Heavy Industries Achieves Significant First Quarter Increase in Orders and Profit

August 6, 2023 /

Tokyo, Japan – Mitsubishi Heavy Industries (OTC: MHVYF) announced that order intake rose 75.1% year over year to 1.6 billion Yen in the quarter ended June 30, 2023. Revenue rose 12.9%, resulting in profit from business activities (business profit) of 51.9 billion Yen, a 248.1% increase from the previous fiscal year, which represents a profit margin of 5.3%. Profit attributable to owners of parent (net income) was 53.1 billion Yen, an increase of 177.1% year-over-year, with a profit margin of 5.4%. EBITDA was 85.1 billion Yen, an 80.3% increase from Q1 FY2022, with an EBITDA margin of 8.7%, up 3.3 percentage points year-over-year.

Large orders growth in Energy Systems was driven by Gas Turbine Combined Cycle (GTCC), which continues to see strong demand for both new builds and after-sales services. Business profit in the segment increased by 27.0 billion Yen due to a reduction in one-time charges in the Thermal Power businesses as well as revenue growth and improved project margins.

In Plants & Infrastructure Systems, revenue increased by 33.8 billion Yen due to contributions from Metals Machinery and Engineering, while business profit improved by 5.0 billion resulting from increased revenue in Metals Machinery as well as positive developments in Engineering and Machinery Systems’ project mix.

In Logistics, Thermal & Drive Systems, successful passthrough of cost inflation to sales prices mainly in Logistics Systems and Heating, Ventilation & Air Conditioning (HVAC) led to 14.3% increases in order intake and revenue, respectively. Cost passthroughs in these businesses also helped to raise the segment’s business profit by 15.3 billion Yen.

Most notable this quarter is the striking growth in Aircraft, Defense & Space order intake, specifically in Defense & Space, which saw orders rise by 584.1 billion Yen. This is due to large orders for missile defense systems from Japan’s Ministry of Defense as the country seeks to improve its capabilities in this area.

Textron Aviation introduces new interiors for Cessna high wing single engine piston lineup

July 17, 2023 /

Wichita, Kansas (BUSINESS WIRE) – Textron Aviation (NYSE: TXT) announced today significant enhancements to its iconic Cessna high-wing piston aircraft lineup including the Cessna Skyhawk, Cessna Skylane, Cessna Turbo Skylane and Cessna Turbo Stationair HD. Coming in 2024, customers will enjoy a range of new high tech standard features and sleek interior design options including modern and comfortable seating, updated instrument panels and new exterior paint styles.

The first change that customers will notice is an enhanced level of comfort and functionality throughout the aircraft. With new power headset jacks and charging ports at every seat (USB A and C device compatibility), upgraded seats with additional support and padding, and a brand-new center armrest for the Cessna Skylane, Turbo Skylane, and Turbo Stationair HD models, customers will experience a whole new level of excellence in flight.

The lineup also offers exceptional style with top-notch performance. From the sleek black instrument panel to the new side panels, window locks and air vents, the aircraft is designed to make the flying experience even more exciting. Owners can select from a variety of modern standard paint schemes to customize their aircraft and make it their own. With decades of impressive performance, powerful capability and low operating costs, the Cessna piston lineup is the perfect choice for aviators — whether they’re taking their first solo flight or charting their next big adventure.

Customers and fans can experience the new interior for the first time when the company debuts the design in a Cessna Skyhawk at the upcoming 2023 Experimental Aircraft Association AirVenture in Oshkosh, Wisconsin.

Lufthansa to Fly Boeing 747 and Airbus A350 to Mallorca Due to High Demand

June 11, 2021 /

– Wide body aircraft to operate to Palma de Mallorca from both Frankfurt and Munich

– First departure planned from Frankfurt on July 17 and on July 31 from Munich

– Tickets now available for booking

Lufthansa is taking extraordinary measures in order to respond to a significant increase in booking demand for flights to Palma de Mallorca from both Frankfurt and Munich. The booking figures for the destination “PMI” have increased 25 times between April and the beginning of June 2021: The airline will be operating a Boeing 747-8 from Frankfurt to Palma de Mallorca four Saturdays in a row during the upcoming summer vacation in Hesse. Additionally, the airline also plans to operate an Airbus A350 from Munich to the Balearic Island at the start of the summer vacation in Bavaria. Although these routes are normally operated by an Airbus A321, on 31 July, two wide-body Lufthansa aircraft will be arriving on Palma de Mallorca.

Departing Frankfurt with the “Jumbo”

The Boeing 747-8 is the largest aircraft that Lufthansa is currently operating, offering up to 364 seats instead of the usual 215, which are normally available on this route.  This wide-body aircraft offers passengers 88 Business Class seats (including First Class) as well as 276 seats in Economy Class (including Premium Economy).

The first “Jumbo” flight, LH1152, will be departing the Rhine Main metropolis on Saturday 17July at 10:20 a.m., just in time for the start of the Hessian summer vacation, and arrive at Palma de Mallorca airport at 12:25 p.m. The return flight, LH1153 will take place the same day at 14:25 p.m., arriving in Frankfurt at 16:45 p.m.

The modern and kerosene-efficient Boeing 747-8, also known as the “Queen of the Skies”, will operate for an addition three weekends, specifically on 24 July, 31 July and 7 August.

Departing Munich with the Airbus A350

The Airbus A350 is the most sustainable long-haul aircraft in the Lufthansa fleet. It consumes 20 percent less kerosene and is 50 percent quieter than previous models.   Those who want to experience the Lufthansa Airbus A350 along with its multi-award-winning cabin now have the chance to do so now. The aircraft offers 293 seats, including 48 in Business Class and 245 in Economy Class (including Premium Economy).

The A350 flight to Palma de Mallorca will take place at the start of the Bavarian summer vacations on Saturday 31 July. Departure from Munich is planned for 9:50 a.m. under flight number LH2658, arriving in Palma de Mallorca at 12:00 a.m. The return flight, LH2659, will take place the same day at 13:30 a.m. arriving in Munich at 15:35 p.m.

Future Combat Air Program Tempest Poised to Drive Productivity Across United Kingdom

May 25, 2021 /

The Tempest program is expected to generate long-term high value employment, with productivity per worker 78% higher than the national average, underlining how this exciting programme can make a significant contribution to the UK Government’s levelling up priorities and the wider economy.

The program is being delivered by Team Tempest – combining the expertise of the UK Ministry of Defence (MOD), BAE Systems, Leonardo UK, MBDA UK and Rolls-Royce. Working with international partners, the team is leading progress towards a UK-led internationally collaborative Future Combat Air System which will ensure the Royal Air Force and its allies retain world-leading, independent military capability.

Key to the success of Tempest is delivering this highly-advanced capability more rapidly and more cost effectively than ever before.

Investment by industry and MOD in research and development for Tempest will generate positive spill-over benefits for the wider economy through applications of new technologies in other sectors and driving innovation in collaboration with hundreds of companies, SMEs and academic organisations.

Click the link below to read the full story!

https://www.baesystems.com/en/article/the-economic-impact-of-the-tempest-programme

LATAM Announces Freighter Conversion of up to Eight Boeing 767-300ER

March 6, 2021 /

LATAM Airlines Group (Santiago: LTM.SN) announced a significant expansion of its cargo operations with the conversion of up to eight Boeing 767-300ER aircraft into Boeing Converted Freighters (“BCF”) in the next three years. This represents a freighter capacity growth of up to 80%. This plan seeks to increase the service options and leverage the synergies of operating a single type of aircraft.

The plan is divided in two gradual stages. The first phase is based on four confirmed conversion slots with Boeing with re-deliveries between 2021 and 2022. Upon completion of that phase, LATAM’s cargo operators’ fleet would reach a total of 15 Boeing 767-300ER freighters. The second phase includes four conversion options with Boeing that would allow aircraft to be added between 2022 and 2023. If all options are executed LATAM would operate a total of 19 767-300ER freighters.

Throughout 2020, LATAM Cargo played an active and vital role in ensuring essential supplies reached Latin American countries, especially in places with extreme and difficult-to-access areas like in countries such as Brazil, Chile, Colombia, Ecuador, and Peru. LATAM also worked to safeguard the supply from the import and export sectors in South America, even increasing their shipment frequencies by more than 40% in some markets. To achieve these results, LATAM operated passenger planes for the exclusive transport of cargo.

In addition, during the pandemic, LATAM landed for the first time in China, searching for medical supplies for South America, ultimately making more than 80 flights to the Asian continent. LATAM currently continues to make trips to Europe and China to transport COVID-19 vaccines into the region, and the LATAM Group’s Solidarity Plane Program has made its resources available for the free transport of vaccines in domestic markets.

Virgin Australia Opens Lounge of the Future

February 26, 2021 /

Virgin Australia has today revealed its Lounge of the future, with the opening of its highly anticipated Adelaide Airport Lounge. Designed by Brisbane’s WMK Architecture, the 283-seat Adelaide Lounge completes Virgin Australia’s network of seven domestic lounges across major airports around Australia. All future Lounge refurbishments around the domestic network will be done in line with this new and fresh design thinking.

The Lounge is true to the Virgin Australia brand, creating a warm, authentic and inviting environment for frequent flyers.

The contemporary design includes a breeze block feature wall upon entry, with canopy ceilings, before ceramic tiling leads guests into a large light-filled space, with the centre walkway leading guests to numerous dining and seating areas. Ambient lighting, bright greenery and Australian sustainable furniture completes the Lounge, making it a relaxed, inviting and uncomplicated place, to refresh and recharge in a delightfully Virgin way.

Virgin Australia CEO Jayne Hrdlicka said the new lounge was the first of many new and exciting products for customers following the airline’s re-launch.

Adelaide Lounge features

The Coffee Bar: An eye-catching central café seating area, transforming from a place to unwind over a coffee during the day, turning into a wine bar at night.

The Cellar Door Hub: With some of Australia’s most awarded wineries on the doorstep of Adelaide Airport, Virgin Australia has created a feature space for South Australian wineries to bring their cellar door to the Lounge for seasonal wine tasting.

Distinct dining areas: Separate dining areas with diverse functionality have been built adjacent to servery areas to cater to all guest’s eating preferences, including large social tables, and banquette seating for more private dining.

New Zealand to Benefit from Improved Northland Line

January 18, 2021 /

The re-opening of the rail line between Whangārei and Swanson in West Auckland is a significant achievement and has immediately boosted KiwiRail’s ability to deliver freight services for New Zealanders.

The track opened last week and today KiwiRail will begin receiving some of the containers unloaded from the ANL vessel Tianjin Bridge which berthed at Northport on Friday. These will be trucked to the rail line in Whangārei and taken to Auckland by train, while the rest of the containers will be moved south by road to their destination.

Fewer trucks on roads also means less congestion, lower road maintenance costs, and greater road safety.

It also means fewer emissions. Every tonne of freight carried by rail produces 70 per cent fewer greenhouse gas emissions than the equivalent freight carried by road. 

The project to improve the North Auckland line, which was in a poor state after years of under-investment, began only a year ago. Funded by the Government’s Provincial Growth Fund, the work included replacing five bridges and lowering tracks in 13 tunnels in just seven months, to allow the passage of hi-cube shipping containers in and out of Northland by rail. These hi-cube containers are standard in international shipping. 

All the new and rehabilitated structures have clearance through the tunnels for electrification to be added later, which helps to further improve the network’s resilience over time. 

More than 400,000 hours went into the construction phase of the project, which marked its completion with the running of a test train last week carrying trial hi-cube export size containers. The train ran successfully along the length of the line, following an early morning blessing in Whangarei and by late last week, freight trains were again running. 

KiwiRail does not yet have a spur directly to Northport but the PGF funding has allowed us to begin buying land along the route. In the meantime, freight is trucked from the port to the rail line in Whangārei, then carried by rail, south to Auckland and other destinations.

With freight volumes in the region expected to increase from 18 million tonnes a year currently to 23 million tonnes by 2042, rail is a crucial part of developing an efficient, integrated transport system for Northland. Across New Zealand, KiwiRail is working hard to support importers and exporters, and to increase its share of the freight market.

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