Slide 1: Making steady progress on our profitable growth journey
Saab interim report January – December 2024 Making steady progress on our profitable growth journey Micael Johansson, President and CEO Anna Wijkander, CFO Merton Kaplan, Head of 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: Full year 2024
Full year 2024 Operating income growth Organic sales growth Positive operational Outlook for 2024 between 15-20% higher than organic sales cash flow growth Order intake Sales EBIT Op. cash flow SEK 96.8 bn SEK 63.8 bn SEK 5.7 bn SEK 2.5 bn Growth 24% Organic growth 23% Growth 33% (FY2023: 3.2) Succe
Slide 4: Highlights Q4 2024
Highlights Q4 2024 ❖ Ongoing global geopolitical uncertainty and continued need for defence capabilities ❖ Strong portfolio interest generated small and medium-sized orders in the quarter ❖ Significant investments made to expand capacity while successfully delivering to customers ❖ High focus on R&D
Slide 5: Key figures Q4 2024
Key figures Q4 2024 Bookings Order intake, SEK bn Increased sales Sales, SEK bn driven by small volumes and 17.6 20.9 and medium deliveries in sized orders all business compared to areas large orders in Q4 2023 44% decrease y-o-y 29.3% organic growth EBIT margin EBIT, SEK bn Improved cash Operationa
Slide 6: Order intake Q4 2024
Order intake Q4 2024 Q4 2024 Jan-Dec 2024 Total Key orders orders 17.6 96.8 ❖ New advanced missile systems for Gripen C/D SEK bn SEK bn (32) (78) ❖ Second MSHORAD air defence system to Lithuania International orders 10.3 73.3 SEK bn SEK bn ❖ Multiple orders within radar systems incl. Giraffe and Sir
Slide 7: Aeronautics
Business Area Aeronautics Sales, SEK million 8 000 q/q +35% ❖ Continued strong interest for Gripen 6 000 5 594 ❖ Gripen E in its first multinational military exercise with strong performance 4 152 4 000 ❖ Accelerated future fighter concept 2 000 ❖ Strong sales growth supported by high activity in th
Slide 8: Dynamics
Business Area Dynamics Sales, SEK million 8 000 q/q +48% ❖ High interest in all areas of the portfolio 6 000 5 615 ❖ Increased demand for the AT4 family in the U.S., including the new IAM program, and 3 800 4 000 new orders for the Roquette from France ❖ Continued interest in MSHORAD with an 2 000 a
Slide 9: Surveillance
Business Area Surveillance Sales, SEK million q/q +13% 8 000 ❖ High interest for GlobalEye, Giraffe radars 6 504 and Sirius Compact 5 778 6 000 ❖ Expanding production capabilities with new facilities for the Sirius Compact in Tampere, 4 000 Finland and Giraffe 1X in Fareham, UK 2 000 ❖ Strengthened
Slide 10: Kockums
Business Area Kockums Sales, SEK million q/q +29% ❖ Continued high interest for Combat Boat 3 000 2 617 CB90 and underwater systems solutions 2 027 ❖ New production facility in Landskrona, 2 000 Sweden inaugurated ❖ New capability to naval vessels Autonomous 1 000 Ocean Core presented ❖ Good executi
Slide 11: Combitech
Business Area Combitech Sales, SEK million 2 000 q/q +16% ❖ High customer demand in the defence area with growing interest for software and AI 1 500 1 298 1 117 ❖ Several agreements with Swedish defence, 1 000 municipalities and the industry ❖ New net recruitments in 2024 adding further 500 competen
Slide 12: Sustainability Q4 highlights
Sustainability Q4 highlights ❖ Continuing to deliver on our sustainability efforts aiming to be a sustainability leader in the defence industry ❖ Emissions from Scope 1 & 2 reduced by 8.8% in the quarter and 6.4% for the full year, supporting progress towards a climate leadership ❖ Launch of the Saa
Slide 13: Autonomous capabilities
Autonomous capabilities At sea For land In the air The combat boat CB90 feature the Collaborative, swarming drone system Saab Aeronautics and the Swedish newly launched Autonomous Ocean developed and demonstrated together Armed Forces are together exploring the Core by Kockums. Demonstrated on the w
Slide 14: Outlook 2025
Outlook 2025 Organic sales EBIT growth higher Positive operational growth between than organic sales cash flow 12-16% growth 14
Slide 15: Financial Summary
Financial Summary Anna Wijkander, CFO 15
Slide 16: Backlog supporting long-term growth Q4 2024
Backlog supporting long-term growth Q4 2024 Order Backlog Duration, SEK billion 187 Order backlog, SEK bn +19% (SEK 153 bn in Q4 2023) Backlog 2023 Q4 +18% 57,8 Backlog 2024 Q4 53,2 +57% 48,5 ➜ Order backlog increase 22% y-o-y, book-to-bill 1.5x 45,0 43,6 ➜ ~3x 2024 sales levels in backlog ➜ Dynamic
Slide 17: Financial summary Q4 2024
Financial summary Q4 2024 Saab Group, SEK million unless otherwise stated Comments Q4 2024 Q4 2023 Change ➜ Sales growth of 29.3%, of which 29.3% organic, Sales 20,850 16,122 29% -0.1% currency and 0.1% M&A Gross Income 4,286 3,517 22% ➜ Gross margin lower due to loss in commercial business in Surve
Slide 18: Key figures per business area
Key figures per business area SEK million unless otherwise stated Q4 Q4 Q4 Q4 Comments Aeronautics 2024 2023 Change Dynamics 2024 2023 Change ▪ Strong sales growth in Aeronautics, margin impacted by start-up cost for production in T-7 Sales 5,594 4,152 35% Sales 5,615 3,800 48% ▪ Large delivery volu
Slide 19: Financial summary Full year 2024
Financial summary Full year 2024 Saab Group, SEK million unless otherwise stated Full Year Full Year Comments 2024 2023 Change ➜ Organic sales growth of 23.4%,-0.1% currency Sales 63,751 51,609 24% and +0.2% M&A Gross Income 13,663 11,260 21% ➜ Increased gross income from higher sales. Gross margin
Slide 20: Improving Sales and EBIT trend
Improving Sales and EBIT trend Group Sales, SEK million Group EBIT, SEK million CAGR 23% CAGR 32% 25 000 70 000 6 000 2 500 60 000 5 000 20 000 2 000 50 000 4 000 15 000 1 500 40 000 3 000 30 000 10 000 1 000 2 000 20 000 5 000 500 10 000 1 000 0 0 0 0 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Slide 21: Cash flow and investments
Cash flow and investments Group Cash Flow FY 2024, SEK billion Investments FY 2024, SEK billion 9 5 4.8 8,3 Tangible/intangible assets Jan-Dec 2024 8 12.4 Capitalised R&D expense 7 4 -1.0 3.5 6 Return on 3 equity, % 5 (11.1% in 2023) 4 2 3 2,5 Jan-Dec 2024 2 -4.8 1 1 0 CF from Change Investments OCF
Slide 22: Solid balance sheet
Solid balance sheet Liquidity / Debt position, SEK billion 6 -1x Q4 2024 Q4 2024 5 4 -0,8x -0,6x -0.3x Net debt/EBITDA* 35.9% Equity/Asset ratio 3 2.2 -0,4x 2 Q4 2024 Q4 2024 -0,2x 1 0 0x 13.4 Cash and liquid 6.0 Unutilised Revolving Credit investments, SEK bn Facilities, SEK bn -1 0,2x -2 0,4x -3 S
Slide 23: Medium-term targets updated
Medium-term targets updated Previous 2023-2027 New 2023-2027 ORGANIC SALES GROWTH ~15% CAGR* ~18% CAGR* OPERATING INCOME EBIT growth higher than EBIT growth higher than organic sales growth organic sales growth CASH CONVERSION >70%** >60%** *CAGR base year 2022, **Cash conversion = Operational cash
Slide 24: Summary
Summary Micael Johansson President and CEO
Slide 25: Key messages and priorities
Key messages and priorities Deliver on customer Accelerate Future Transform the way we commitments by capabilities by increased work for efficiency, increasing efficiency investments in joint scalability and efficient and capacity to meet innovation, and leveraging software design increased demand S
Slide 26: Save the date: Capital Markets Day 2025
Save the date Capital Markets Day 2025 26-27 May 2025 saab.com/investors