Slide 1: Delivering sustained growth
Saab interim report January – September 2025 Delivering sustained growth Micael Johansson, President and CEO Anna Wijkander, CFO Johan Andersson, IR
Slide 2: Important information
Important This presentation may contain forward-looking statements which reflect Saab AB’s current view on future events and information financial and operational development. Words such as “intend”, “expect”, “anticipate”, “may”, “believe”, “plan”, “estimate” and other expressions which imply indic
Slide 3: Q3 2025 Highlights
Q3 2025 Highlights ▪ High market activity with strong demand ▪ Good development in ongoing campaigns ▪ Solid project execution with high level of customer deliveries ▪ Continued investments in capacity expansion and new capabilities ▪ Upgrading the outlook for 2025 3
Slide 4: Key figures
Q3 2025 Key figures Strong growth Order intake, SEK bn Increased Sales, SEK bn in medium- sales in all BAs, 20.9 15.9 sized orders particularly in YoY Aeronautics 1% decrease YoY 18% organic growth YoY EBIT growth driven EBIT, SEK bn Cash flow Operational cash flow, SEK bn by higher sales and reflec
Slide 5: Business Area Aeronautics
Business Area Aeronautics ▪ High international interest for the Gripen E/F ▪ Gripen E/F contract signed with Thailand ▪ Strong sales growth driven by project execution ▪ Several customer deliveries in Q3, including Gripen E/F and T-7A Sales, SEK million 8,000 YoY +34% Order bookings Q3 7.4 7,000 6,0
Slide 6: Business Area Dynamics
Business Area Dynamics ▪ Strong market demand for the entire product portfolio ▪ Large order for the MSHORAD system from the Czech Republic ▪ Further strengthening the backlog with several medium-sized orders ▪ Sales growth driven by increased deliveries and capacity expansion Sales, SEK million YoY
Slide 7: Business Area Surveillance
Business Area Surveillance ▪ Strong international interest for the Surveillance portfolio ▪ Several ongoing campaigns for GlobalEye ▪ Multiple medium-size orders in Q3, including Giraffe 4A and Arthur radar ▪ Good project execution and system deliveries, including Giraffe 1X radars ▪ Divestment of T
Slide 8: Business Area Kockums
Business Area Kockums ▪ High customer interest in all segments ▪ Contract for development of large unmanned underwater vehicle (LUUV) ▪ Saab-led consortium to lead NATO's new underwater battlespace project ▪ Sales growth driven by project execution and export business Kockums, SEK million YoY +17% 5
Slide 9: Business Area Combitech
Business Area Combitech ▪ High customer interest for defence-related solutions ▪ New framework agreements with industry and public sectors ▪ Good growth in cybersecurity and telecom/critical communication ▪ Sales growth driven by higher utilisation and increased number of consultants in projects Sal
Slide 10: Expanding our drone system capabilities
Expanding our drone system capabilities ➜ Strengthening our drone and counter-drone capabilities together with defence forces and international partners ➜ Accelerated development ongoing as showcased with the Loke system ➜ Rapidly maturing solutions deployed at NATO-mission in Poland, safeguarding c
Slide 11: Sustainability highlights
Q3 2025 Sustainability highlights ▪ Installation of a biogas facility at the Gamleby site, Sweden. Aim to reduce fossil fuel dependence and ensure security of supply ▪ Scope 1 & 2 CO2-eq emissions decreased 4% year-to-date ▪ The overall reduction progress since base year 2020 is -33% ▪ Saab publishe
Slide 12: Outlook full year 2025
Outlook full year 2025 Organic sales EBIT growth higher Positive operational growth between than organic sales cash flow 20-24% growth Previous outlook Organic sales growth between 16-20% 12
Slide 13: Financial summary
Financial summary Anna Wijkander CFO 13
Slide 14: Strengthened backlog supporting future growth
Strengthened backlog supporting future growth Jan-Sep 2025 Jan-Sep 2025 Order Backlog Duration, SEK billion 202 Order backlog, SEK bn 73% Share of international orders in backlog, +14% (SEK 190 bn in Jan-Sep 2024) (72% in Jan-Sep 2024) +23% 55.1 62.8 57.6 46.8 ▪ Book-to-bill ratio of 1.3x in Q3 -16%
Slide 15: Sales and profitability
Business areas Sales and profitability Aeronautics, SEK million Dynamics, SEK million YoY +12% 8,000 YoY +34% 8,000 24% 14% 7,000 7,000 21% 12% 19.3% 5,594 5,615 5,714 Group sales & EBIT %, SEK million 6,000 6,000 18% 10% 15% YoY +17% 5,000 4,525 4,424 4,438 5,000 13.5% 8% 12% 4,000 3,322 4,000 3,41
Slide 16: Financial summary Q3 2025
Financial summary Q3 2025 Saab Group, SEK million unless otherwise stated Comments Q3 2025 Q3 2024 Change ▪ Sales growth of 17.2%, of which 18.3% organic Sales 15,871 13,546 17% (-1.1 %p currency) Gross Income 3,642 2,912 25% ▪ Increased gross margin driven by project execution Gross margin 22.9% 21
Slide 17: Financial summary 9M 2025
Financial summary 9M 2025 Saab Group, SEK million unless otherwise stated Comments Jan-Sep Jan-Sep ▪ Sales growth of 19.9%, of which 21.0% organic 2025 2024 Change (-1.2 %p currency, +0.1 %p M&A) Sales 51,449 42,901 20% ▪ Increased gross margin following improvements Gross Income 11,617 9,377 24% ma
Slide 18: Cash flow
Cash flow Group Cash Flow September YTD, SEK billion Operational Cash Flow per BA September YTD, SEK billion 7.3 September 2025 -3.4 5.9 -3.0 13.6 Return on equity, % 1.0 -1.2 -4.9 (11.8% in Sep 2024) -1.0 September 2025 -1.0 -1.2 -2.2 -3.6 14.6 Return on capital CF from Change Investments OCF Taxes
Slide 19: Solid balance sheet
Solid balance sheet Liquidity / Debt position, SEK billion 6 -1x September 2025 September 2025 5 4 -0.8x -0.6x 0.1x Net debt/EBITDA* 37.8% Equity/Asset ratio 3 -0.4x 2 September 2025 September 2025 -0.2x 1 0 0x 12.2 Cash and liquid 6.0 Unutilised Revolving Credit investments, SEK bn Facility, SEK bn
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