Q3 2024 Saab AB Earnings Call Transcript
Key Points
- Saab AB (SAABF) reported a strong order intake of SEK21 billion, marking a 40% increase year-over-year.
- The company achieved 17% organic sales growth, with a 21% increase over the nine months.
- Saab AB (SAABF) has a record high order backlog of SEK190 billion, indicating strong future demand.
- The company is expanding its production capacity with new facilities and increased workforce, aiming to meet growing demand.
- Saab AB (SAABF) reported a strong cash flow of SEK3.2 billion due to large customer payments.
- The aeronautics segment is still burdened by startup costs and under absorption due to low-rate production for the T-7 trainer aircraft.
- Dynamics experienced slightly lower margins due to the mix of business units and delivery timing.
- The company faces challenges in industrializing products for high-volume production, requiring redesign and automation.
- Supply chain resilience remains a concern, requiring continuous monitoring and adjustments.
- Saab AB (SAABF) has seen an 8% year-on-year increase in CO2 emissions, despite efforts to improve energy efficiency.
Good morning, everybody and welcome to the presentation of the third quarter, 2024 results. I'm Merton Kaplan, Head of Investor Relations. And with me here today, I have our CEO, Micael Johansson; and CFO, Anna Wijkander. Micael and Anna will guide us through the details of the report, and we will follow that with a Q&A session. With that, I hand over the mic to you, Micael.
Thank you so much Martin and thank you for joining us this morning and we will now go through the third quarter result 2024. And let me start with some highlights. I think the demand is still high in the market. So it's a strong quarter when it comes to order intake. And I think the demand is long term because if you think about the wake up call that we had in Europe, many countries have to sort of start building capabilities, replenish stockpiles continue to support Ukraine. And also when hopefully the war ends in Ukraine in the preferred manner, we will have -- we will need to help them to build sovereign
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