Saab concluded the year 2024 on a robust note, surpassing anticipated levels in organic sales expansion, enhanced its operational efficacy, and produced a favourable cash flow.
For the period of October to December 2024, the company’s order bookings reached Skr17.56bn ($1.61bn), a decrease from Skr31.50bn in the same period in 2023, due to orders within Surveillance and Dynamics.
The quarter was highlighted by a large order for the MSHORAD system to Lithuania, valued at Skr1.2bn.
Net income for the period rose to Skr1.44bn from Skr1.25bn in Q4 2023, with earnings per share climbing to Skr2.66 from Skr2.27, marking a 17% increase.
Operating income (EBIT) for the quarter also saw an increase, reaching Skr1.95bn compared to Skr1.42bn in 2023.
Sales for the quarter amounted to Skr20.85bn, up from Skr16.12bn, with an organic growth rate of 29.3%, driven by all business areas.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) for the quarter improved to Skr2.73bn from Skr2.03bn in Q4 2023.
Saab president and CEO Micael Johansson said: “I am pleased to report that Saab ended 2024 in a strong way. We delivered a better-than-expected organic sales growth, improved our operational performance and generated a positive cash flow.
“We achieved all this while investing significantly in expansion to meet higher customer demand and strengthening our market position. In the wake of the global geopolitical uncertainty, Saab is committed to being a reliable partner, supporting countries in building their defence capabilities and contributing to increased European defence capacity,”
In October 2024, Saab released its financial results for the third quarter (Q3) period of July-September 2024.
For the entire year of 2024, Saab noted at that time that its order bookings totalled Skr96.80bn, a 24% increase from Skr77.81bn in 2023, with both large and small orders contributing to the growth.
Looking ahead to 2025, Saab anticipates an organic sales growth of 12-16%, an EBIT growth exceeding the organic sales growth, and a positive operational cash flow.
