Saab posts healthy financials for 2021
Saab booked a new Gripen E equipment deal from Sweden in Q4 2021. (Photo: Saab)
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
-
European defence projects compete for future PESCO funding
New efforts evaluated by the EU's PESCO development mechanism will focus on climate change, hybrid threats, cyber, artificial intelligence and space as well as energy and maritime security.
-
Despite sanctions, India's dependence on Russian military equipment likely to persist for decades to come
Despite boosting indigenous production and diversifying its sources of military equipment, India is in no position to give up its long-time dependence on Russia.
-
The most significant defence stories of 2022 - and looking ahead to the coming year (podcast)
The year 2022 saw dramatic changes to the international security landscape along with major developments across the air, land and sea domains.
-
The future is hypersonic strike for Zumwalt destroyers
The Zumwalt class will be the first US Navy ships to field hypersonic missiles.