Saab Achieves Strong Growth in 2023: Year-End Report Highlights and Strategy Execution Update

Saab Achieves Strong Growth in 2023: Year-End Report Highlights and Strategy Execution Update

(IN BRIEF) Saab releases its year-end report for 2023, showcasing significant growth and positive performance indicators. President and CEO Micael Johansson highlights the company’s successful navigation through a changing market reality, with notable increases in orders, sales, and investments in research and development. Key highlights from Q4 2023 include a substantial order intake, organic sales growth, improved EBITDA, and strong operational cash flow. The company also announces a proposed dividend increase and upgrades its medium-term target for organic sales growth. The report is accompanied by a Strategy Execution Update event, where Saab’s leadership discusses the results and outlines future plans.

(PRESS RELEASE) STOCKHOLM, 9-Feb-2024 — /EuropaWire/ — “2023 marked a step change for Saab with a changed market reality and a new growth journey. Our performance in 2023 reflects our ambitions in this new environment, with a strong increase in orders and sales, investments in competence, capacity and R&D, while improving earnings and generating a positive cash flow. Based on our unique position and ability to execute, Saab is a company with significant long-term opportunities,” says Micael Johansson, President and CEO, Saab.

Key highlights Q4 2023

• Order intake amounted to SEK 31,501m (29,866), including SEK 6 bn from reassessment of index clauses. Growth in medium and small orders was 57% and 19%, respectively.
• Group sales amounted to SEK 16,122m (13,866) with an organic sales growth of 16%, driven by most business areas.
• EBITDA increased and amounted to SEK 2,032m (1,883) with an EBITDA margin of 12.6% (13.6) in the quarter.
• EBIT improved to SEK 1,420m (1,314) with strong contributions from Surveillance and Kockums. The EBIT margin in the quarter was 8.8% (9.5).
• Net income amounted to SEK 1,254m (1,154) and the earnings per share was SEK 9.08 (8.32), an increase of 9%.
• Operational cash flow improved and was SEK 3,691m (1,682) in the quarter, driven by higher level of milestone payments.
• Net liquidity position was SEK 2.3 bn (2.4) at the end of period.
• The Board proposes a dividend for 2023 of SEK 6.40 (5.30) per share to the AGM, to be paid in two equal instalments.
• Outlook for 2024: an organic sales growth between 12-16%, operating income growth higher than organic sales growth and positive operational cash flow.
• Upgrading the medium-term target for organic sales growth to now be around 15% (CAGR), from previously around 10%, for the period 2023-2027.

Presentation of Saab’s Q4 2023 results and Strategy Execution Update

Saab’s CEO and President Micael Johansson, and CFO and deputy CEO Christian Luiga will today present Saab’s Q4 and full-year 2023 results and host a Strategy Execution Update.

Date:     Friday 9 February at 09.30 a.m. (CET).

The Q4 2023 and Strategy Execution Update event can be accessed via the links below.

Live webcast:
www.saab.com/investors/register-webcast-q4-2023

Conference call:
www.saab.com/investors/conference-call-q4

The year-end report and presentations from the event will be available at: www.saab.com/investors/reports-and-presentations

Saab is a leading defence and security company with an enduring mission, to help nations keep their people and society safe. Empowered by its 22,000 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 9 February 2024 at 07.30 (CET).

Media Contacts:

Mattias Rådström
Head of Media Relations
+46 (0)734 180 018
presscentre@saabgroup.com 

Merton Kaplan
Head of Investor Relations
+46 (0)734 182 071
merton.kaplan@saabgroup.com

SOURCE: Saab AB