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52 SAAB ANNUAL REPORT 2011
ADMINISTRATION REPORT > SAAB’S BUSINESS AREAS
DYNAMICS
Dynamics offers a product portfolio with ground combat
weapons, missile systems, torpedoes, unmanned under-
water vehicles and signature management systems for
armed forces as well as military and civil niche products
from spin-offs such as unmanned underwater vehicles for
the offshore industry and 3D mapping solutions for the
defence market. Products include Carl-Gustaf, RBS 70
and Rapid 3D Mapping.
SALES, INCOME AND ORDERS
Orders received
Orders received in 2011 included several larger orders for ammuni-
tion to the Carl-Gustaf man-portable weapon system and contracts
for further deliveries of components for the system. An order for
the system was also received from the US Army. A large order for
the AT4 man-portable weapon system was also received.
Orders received where the order sum exceeded MSEK 100 rep-
resented 59 per cent (61) of total order bookings.
Sales
Sales decreased as a result of a lower order intake during 2010 and
consequently lower activity levels in the rst half of 2011 compared
to 2010.
Markets outside Sweden accounted for 82 per cent (81) of sales.
Income and margin
e operating margin in 2010 was impacted negatively by struc-
tural costs of MSEK 278, which were partly reversed in 2011.
Operating cash flow
Operating cash ow in 2011 was lower compared to 2010 due to
timing dierences of milestone deliveries in large projects.
KEY FIGURES
MSEK 2011 2010
Sales 4,335 4,741
Operating income 484 322
Adjusted operating margin, % 11.2 6.8
Order bookings 4,246 3,312
Order backlog at year-end 5,460 5,546
Operating cash flow 588 1,044
EBITDA 652 516
EBITDA margin, % 15.0 10.9
17%
201120102009
0
2,000
1,000
3,000
4,000
5,000
0
100
200
300
400
500
201120102009 4
6
8
10
12
14
Operating income, MSEK Operating margin, %
SALES, MSEK OPERATING INCOME AND
MARGIN
SHARE OF SALES 2011, %