Slide 1: Growing in a dynamic market reality
Saab interim report January – March 2025 Growing in a dynamic market reality 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: Highlights Q1 2025
Highlights Q1 2025 ▪ Strong customer activity in the market ▪ Increased focus on European industrial-defence base ▪ Well-positioned with a broad portfolio in prioritised areas ▪ Capacity ramp-up progressing at high pace ▪ Expanded operations with more than 800 new employees 3
Slide 4: Key figures
Q1 2025 Key figures Order growth Order intake, SEK bn Increased Sales, SEK bn driven by sales volumes 19.1 15.8 balanced mix in all BAs and of small, in Combitech medium, and large-sized orders 4% increase YoY 11% organic growth YoY EBIT improvement EBIT, SEK bn Cash flow Operational cash flow, SEK
Slide 5: Market
Market Q1 2025 ▪ Ongoing global uncertainty drives long-term defence needs ▪ ReArm Europe / Resilience 2030 adding additional spending of EUR 800 billion ▪ New Swedish defence spend target of 3.5% of GDP by 2030 ▪ Recently announced Swedish spring budget 2025 adds SEK 25 billion in defence procureme
Slide 6: Business Area Aeronautics
Business Area Aeronautics ▪ High customer interest in Gripen E/F fighter ▪ Gripen E/F selected for negotiation in Colombia ▪ Good pace in project activity across business units ▪ Continued low production levels in T-7 Sales, SEK million 7 000 YoY +11.8% Order intake Q1 6 000 5 000 4 000 4 047 3 726
Slide 7: Business Area Dynamics
Business Area Dynamics ▪ High demand for the entire Dynamics portfolio ▪ Several missile-related orders in the quarter including the RBS 70 NG, TAURUS and IRIS-T ▪ Live Training equipment order for the U.S. Marine Corps ▪ Capacity expansion progressing at high pace Sales, SEK million 7 000 YoY +19.9
Slide 8: Business Area Surveillance
Business Area Surveillance ▪ Strong order intake driven by Arthur and Giraffe radar systems ▪ Additional orders for the sight and fire control systems for CV90 ▪ Started first serial production of the passive EW sensor Sirius Compact in new facility in Finland ▪ Increased production capacity of the
Slide 9: Business Area Kockums
Business Area Kockums ▪ High customer activity with several smaller orders booked in Q1 ▪ Important milestones reached within submarines and surface ships ▪ Deliveries of underwater vehicles to international customers Sales, SEK million YoY +14.6% 3 000 Order intake Q1 2 617 2 500 2 000 1 966 2 197
Slide 10: Business Area Combitech
Business Area Combitech ▪ Continued strong customer activity resulting in several agreements in the defence area ▪ Significant interest in autonomy, AI, and security solutions ▪ Sales growth driven by increased number of consultants in projects ▪ Partnership with the Swedish Defence Conscription and
Slide 11: Sustainability highlights
Q1 2025 Sustainability highlights ▪ Scope 1 & 2 CO₂-eq emissions decreased by 31% last 12 months vs base year ▪ Injury frequency rate decreased by 21% compared to year-end 2024 ▪ Share of women employees at 26% and the share of women managers at 28% Greenhouse Gas Occupational Health Gender Emission
Slide 12: Financial summary
Financial summary Anna Wijkander, CFO 12
Slide 13: Backlog supporting long-term growth
Backlog supporting long-term growth Q1 2025 Q1 2025 Order Backlog Duration, SEK billion 189 Order backlog, SEK bn 74% Share of international in order backlog, +6% (SEK 158 bn in Q1 2024) (66% in Q1 2024) Backlog 2024 Q1 +20% 52,9 +42% Backlog 2025 Q1 48,0 49,9 46,2 ▪ Order backlog increase 19% YoY 3
Slide 14: Sales
Sales Business areas Aeronautics, SEK million Dynamics, SEK million YoY +11.8% YoY +19.9% 8 000 8 000 7 000 7 000 6 000 5,594 6 000 5,615 Group Sales, SEK million 5 000 4,525 5 000 YoY +11.3% 4,047 3,726 30 000 4 000 3,322 4 000 3,312 3,056 3,143 3 000 3 000 2,622 25 000 2 000 2 000 20,850 1 000 1 0
Slide 15: EBIT and EBIT-margin
EBIT and EBIT- Business areas margin Aeronautics, SEK million Dynamics, SEK million YoY +33.0% 14% YoY +25.6% 24% 1 600 1 600 21% 12% Group EBIT, SEK million 1,192 18% 1 200 10% 1 200 YoY +22.1% 14.7% 15% 8.1% 8% 14.0% 2 500 12% 9.4% 800 6.8% 800 9.2% 6% 594 8.8% 8.8% 9% 8.4% 1,953 412 461 2 000 367
Slide 16: Financial summary
Financial summary Comments Saab Group, SEK million unless otherwise stated Q1 2025 Q1 2024 Change ▪ Organic sales growth of 10.9% (+0.2% M&A and 0.2% currency) Sales 15,792 14,185 11.3% ▪ Gross margin improvement of 1.8 pp driven by good Gross Income 3,719 3,085 20.6% project execution and project c
Slide 17: Cash flow
Cash flow Group Cash Flow Q1, SEK billion Operational Cash Flow per BA Q1, SEK billion 3.0 March 2025 2.5 2.0 2.1 -1.5 -0.6 13.0 Return on 1.5 equity, % -0.6 5.3 -0.9 (10.9% in 2024) 0.0 1.0 0.5 March 2025 0.0 -0.5 -1.6 0.0 -0.4 -0.4 -2.3 14.2 Return on capital CF from Change Investments OCF Taxes,
Slide 18: Solid balance sheet
Solid balance sheet Liquidity / Debt position, SEK billion 6 -1x Q1 2025 Q1 2025 5 4 -0,8x -0,6x -0.25x Net debt/EBITDA* 37.8% Equity/Asset ratio 3 2.2 -0,4x 2 Q1 2025 Q1 2025 -0,2x 1 0 0x 12.7 Cash and liquid 6.0 Unutilised Revolving Credit investments, SEK bn Facilities, SEK bn -1 0,2x -2 0,4x -3
Slide 19: Summary
Summary Micael Johansson President and CEO
Slide 20: Outlook 2025
Outlook 2025 Organic sales EBIT growth higher Positive operational growth between than organic sales cash flow 12-16% growth 20
Slide 21: Capital Markets Day 2025
Capital Markets Day 2025 Key topics • Saab’s view on the defence market • Strategy execution • Capacity investments • Focused future capabilities • Dynamics and Surveillance deep-dive Date: 26-27 May Please visit saab.com/cmd for more information saab.com/cmd
Slide 22: Saab Interim Report January - March 2025
a ~ 4 SAABINTERIM REPORT 22 JANUARY - MARCH 2025