Saab posts healthy financials for 2021
Saab booked a new Gripen E equipment deal from Sweden in Q4 2021. (Photo: Saab)
Saab saw sales, order bookings and profits increase in 2021, and the company expects organic sales growth of 5% in 2022.
In its full-year results presentation on 11 February, Saab described 11% sales growth in 2021 to SEK39.15 billion ($4.20 billion), helping net profits to more than double to SEK2.89 billion.
Order bookings grew by 3% to a value of SEK43.57 billion in 2021, while the order backlog as at 31 December 2021 reached SEK105.18 billion (up by 5%).
‘In 2021, we strengthened our platform for future growth by continuing to grow our order intake,’ said Micael Johansson, Saab president and CEO, adding that the defence and aerospace company expects organic sales growth of 5% in 2022.
Orders booked in Q4 2021, for instance, included a new Gripen E equipment contract for Sweden, multiple Carl-Gustaf orders including the next-generation round for Sweden, and a launch contract for the new G1X air defence radar.
However, sales fell in Q4 as the Aeronautics and Kockums businesses within Saab reported growth while Dynamics and Surveillance had lower sales.
Johansson sounded a note of caution around a ‘continued risk’ of supply chain shortages in 2022. He noted that headwinds related to the global COVID-19 pandemic remain ‘to some extent’, although Saab has ‘largely mitigated the impact on our business’.
More from Defence Notes
-
![Malaysia’s defence budget sets out major procurement goals for 2026]()
Malaysia’s defence budget sets out major procurement goals for 2026
The country has allocated RM21.70 billion for defence spending next year, with some major procurements set to be initiated across the country’s army, navy and air force.
-
![How Canada plans to “seize” the opportunity to increase investments in defence]()
How Canada plans to “seize” the opportunity to increase investments in defence
The Canadian Department of National Defence has been increasing efforts to accelerate the acquisition of new equipment and modernise its in-service inventory.
-
![Palantir and Boeing partner up to bring AI to defence manufacturing]()
Palantir and Boeing partner up to bring AI to defence manufacturing
The partnership with the US airframer will see Palantir’s AI software leveraged to help streamline data analytics across Boeing’s 12 factories on defence and classified programmes.
-
![DroneShield to double its US footprint to meet growing demand for counter-UxS capabilities]()
DroneShield to double its US footprint to meet growing demand for counter-UxS capabilities
DroneShield disclosed to Shephard its plans to increase its workforce and manufacturing capacities while strengthening partnerships with US suppliers.
-
![Singapore’s DSTA seeks wider partnerships to advance robotics and AI capabilities]()
Singapore’s DSTA seeks wider partnerships to advance robotics and AI capabilities
The technology organisation is expecting a significant rise in the number of staff working across robotics and digital solutions as it becomes more of a focal point.
