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
-
![Top-level commitments but no meat in UK Defence Industrial Strategy’s Statement of Intent]()
Top-level commitments but no meat in UK Defence Industrial Strategy’s Statement of Intent
The initial document focused more on creating the right partnerships and inspiring investment in defence than on any details of how future UK Armed Forces would be armed.
-
![What the future holds for Ukraine and NATO under a Trump administration]()
What the future holds for Ukraine and NATO under a Trump administration
Although Trump’s geopolitics policy for Europe remains unclear, defence analysts from the US and Europe predict how his incoming administration would attempt to handle critical issues on the continent.
-
![RUSI deputy: UK needs longer procurement plans and improved awareness of US sift to Indo-Pacific]()
RUSI deputy: UK needs longer procurement plans and improved awareness of US sift to Indo-Pacific
The UK budget announced in Parliament on 30 October was the first by a Labour government in 14 years which has also launched a review into defence procurement programmes.
-
![Australia outlines longer punch and brings local industry onboard]()
Australia outlines longer punch and brings local industry onboard
The Australian government has placed a focus on Guided Weapons and Explosive Ordnance (GWEO) which has included the purchase of additional long-range rocket systems and investments in local production of missiles.
