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Saab posts healthy financials for 2021

11th February 2022 - 10:03 GMT | by The Shephard News Team

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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’.

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