Saab 2011 Annual Report Download - page 54

Download and view the complete annual report

Please find page 54 of the 2011 Saab annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 158

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158

50 SAAB ANNUAL REPORT 2011
ADMINISTRATION REPORT > SAAB’S BUSINESS AREAS
AERONAUTICS
Aeronautics offers a product portfolio that includes the
Gripen fighter and Unmanned Aerial Systems (UAS).
Aeronautics also manufactures aircraft components for
Saab’s own aircraft as well as passenger aircraft pro-
duced by others. Products include Gripen, Skeldar
and Neuron.
SALES, INCOME AND ORDERS
Orders received
Orders received in 2011 included several orders from FMV related
to the Gripen system. For example, orders were received for de-
velopment of the existing material system 39 (edition 19) and for
maintenance and development studies of the Gripen system.
Orders received in 2011 were substantially lower than in 2010
mainly as 2010 included a large order from FMV for six Gripen
aircra intended for the Royal ai Air Force of SEK 1.6 billion and
an order for a Tactical Unmanned Aerial Vehicle system (TUAV) of
MSEK 407.
Orders received where the order sum exceeded MSEK 100 rep-
resented 84 per cent (89) of total order bookings.
Sales
Sales in 2011 decreased mainly as a result of the lower activity of
deliveries of Gripen to South Africa. All 26 aircra ordered by
South Africa have been delivered.
Markets outside Sweden accounted for 43 per cent (44) of sales.
Income and margin
In 2011, the ownership interest in Denel Saab Aerostruc-
tures(Pty)Ltd. was divested and generated a capital gain before tax
of MSEK58.
Structural costs of MSEK 98 in 2010 related to lay-os as a con-
sequence of the reorganisation of Aeronautics announced in 2009.
Operating cash flow
Operating cash ow improved during the year due to improved
working capital.
Several projects entered into their nal stages of completion
in 2010 and 2011. ese projects have been successfully delivered
to the customer because Saab has managed to execute them at a
lower cost level than originally planned. A nal price adjustment of
MSEK 680 was therefore made in the fourth quarter 2011.
KEY FIGURES
MSEK 2011 2010
Sales 6,351 6,741
Operating income 332 191
Adjusted operating margin, % 5.2 2.8
Order bookings 3,807 6,901
Order backlog at year-end 13,091 15,636
Operating cash flow 223 30
EBITDA 579 438
EBITDA margin, % 9.1 6.5
SALES, MSEK OPERATING INCOME AND
MARGIN
SHARE OF SALES 2011, %
25%
201120102009
0
2,000
4,000
6,000
8,000
0
70
140
210
280
350
201120102009 0
2
4
6
8
10
Operating income, MSEK Operating margin, %