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Swedish defence group Saab reports boost in profits
Thursday, 19 April 2012
Defence and Security Company Saab’s operating income presented for the
period January -March 2012 was Skr 398 million against Skr368 million
for same period a year ago. This corresponds to an operating margin of
7.1 per cent over 6.7 same period in the past.
Net income was Skr265million as opposed to Skr 277 corresponding period
a year ago, with earnings per share after dilution of Skr 2.56 unlike
the Skr2.56 in the past.
Analysts had expected an operating profit of Skr374 million, according to consensus summaries.
Sales
amounted to Skr5.573 million in the period against Skr5.452 million.
Analysts had predicted sales to reach Skr 5.582 million. Sales thus
increased by 2 per cent to with a positive impact from acquisitions of
4 per cent, the company wrote in a press release. Saab repeats that the
sales revenue in 2012 is expected to increase slightly through 2011.
Operating cash flow amounted to Skr -48 compared on Skr559 in same
period in the past. The operating cash flow was negative mainly as a
result of utilisation of and reduction in advances and milestone
payments compared to the same period 2011. But gross income amounted to
Skr 1,574 (1,427), ¬corresponding to a gross margin of 28.2 per cent
(26.2).
Order bookings amounted to Skr 4,000 (5,215) and the order backlog at the end of March 2012 amounted to Skr 35,657 (40,957).
President and CEO, Håkan Buskhe wrote on the press release
that “the market situation is challenging with many customers
delaying their investment decisions due to restrained government
budgets. However, we continue to see an increased interest in our
cost-efficient high-technology products and solutions. Among European
nations there is an increasing interest in co-operation in the field of
research and development and defence material.”
he continued that in Sweden, the Armed Forces there presented their
intention to upgrade the fighter aircraft fleet to Gripen E/F and gave
a clear commitment to Gripen as the backbone of the Swedish Air Force.
The Gripen is highly competitive in terms of capabilities, and can be
upgraded in a cost-efficient way to meet future requirements of the
Swedish Armed Forces.
“The level of small and medium sized order bookings was stable during
the first quarter 2012 compared to 2011, but the lack of large orders
led to a lower level of order bookings,” add he CEO
by Scancomark.se Team
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