Saab 2012 Annual Report Download - page 4

Sales, SEK billion
Organic sales growth shall average
5 per cent annually over a business
cycle.
In 2012, the organic growth was
-2 per cent (-4).
Operating margin, %
The operating margin after deprecia-
tion/amortisation (EBIT) shall be at
least 10 per cent. The goal is formu-
lated as an average over a business
cycle.
In 2012, the operating margin after
depreciation/amortisation (EBIT)
was 8.5 per cent (12.5).
Equity/Assets ratio, %
The equity/assets ratio shall exceed
30 per cent.
At year-end 2012, the equity/assets
ratio was 47.5 per cent (41.1).
.
Dividend, SEK
The long-term dividend objective is
to distribute 20–40 per cent of net
income over a business cycle to
shareholders.
For 2012, the Board of Directors
proposes a dividend of SEK 4.50.
This would represent 30 per cent of
the net income.
t0SEFSCPPLJOHTBNPVOUFEUP.4&,BOEUIFPSEFS
CBDLMPHBUUIFFOEPG%FDFNCFSXBT.4&,
t4BMFTJODSFBTFEQFSDFOUUP.4&,&YDMVEJOHBDRVJTJ-
tions sales decreased 2 per cent. Exchange rates had no significant im-
pact on sales.
t(SPTTJODPNFBNPVOUFEUP.4&,DPSSFTQPOEJOHUPB
HSPTTNBSHJOPGQFSDFOU
t0QFSBUJOHJODPNFXBT.4&,DPSSFTQPOEJOHUPBOPQFSB-
ting margin of 8.5 per cent (12.5). This included a non-recurring item of
.4&,GSPNBSFEVDUJPOPGBQPUFOUJBMFBSOPVUMJBCJMJUZJODMVEFE
DBQJUBMHBJOTPG.4&,"EKVTUFEGPSOPOSFDVSSJOHJUFNTUIFPQF-
SBUJOHNBSHJOXBTQFSDFOU
t/FUJODPNFXBT.4&,XJUIFBSOJOHTQFSTIBSFBGUFSEJMV-
tion of SEK 14.33 (20.38).
t5IFPQFSBUJOHDBTInPXPG.4&,JOXBTOFHBUJWF
mainly as a result of a higher utilisation of, and reduction in, advances
and milestone payments as well as a higher net amount spent on acqui-
sitions and divestments than in 2011. In the fourth quarter the operating
DBTInPXBNPVOUFEUP.4&,
t1SPQPTFEEJWJEFOEGPSJT4&,QFSTIBSF
Major events after the conclusion of the year:
t0O'FCSVBSZ4BBCBOOPVODFEUIFTJHOJOHPGBOBHSFFNFOU
XJUIUIF4XFEJTI%FGFODF.BUFSJFM"ENJOJTUSBUJPO'.7GPS(SJQFO&
5IFBHSFFNFOUJODMVEFTEFWFMPQNFOUBOENPEJmDBUJPOPG(SJQFO&GPS
4XFEFOEVSJOHUIFQFSJPEBOEBQPTTJCMFPSEFSGPSOFXQSP-
EVDUJPOPG(SJQFO&GSPN4XJU[FSMBOE'.7IBTUPEBZQMBDFEBOJOJUJBMEF-
velopment order of SEK 2.5 billion for operations during 2013-2014. Re-
maining orders from Sweden are expected in 2013-2014. The total value
of possible orders under the agreement amounts to a total of SEK 47.2
billion.
Outlook statement 2013:
t*OXFFTUJNBUFUIBUTBMFTXJMMJODSFBTFTMJHIUMZDPNQBSFEUP
t5IFPQFSBUJOHNBSHJOJOFYDMVEJOHNBUFSJBMOFUDBQJUBMHBJOTBOE
other non-recurring items, is expected to be in line with the operating
NBSHJOJOFYDMVEJOHNBUFSJBMOPOSFDVSSJOHJUFNTPGQFSDFOU
Key financial ratios (MSEK) 2012 2011
Order bookings 20,683 18,907
Order backlog at year-end 34,151 37,172
Sales 24,010 23,498
EBITDA 3,168 4,088
EBITDA margin, % 13.2 17.4
Operating income (EBIT) 2,032 2,941
Operating margin (EBIT margin), % 8.5 12.5
Income after nancial items 1,906 2,783
Net income 1,539 2,217
Operating cash ow -396 2,477
Earnings per share, SEK (after dilution) 14.33 20.38
Operating cash ow per share, SEK -3.63 22.69
Dividend per share, SEK 4.50 1) 4.50
Return on equity, % 11.3 18.1
Equity/Assets ratio, % 47.5 41.1
Total research and development (R&D)
expenditures
5,946 5,116
Internally nanced R&D 1,798 1,355
R&D share of sales 7.5 5.8
No. of employees at year-end 13,968 13,068
Share of women, % 22.0 22.0
Academic degree, % 55 54
1SPQPTFECZUIF#PBSEPG%JSFDUPST
Long-term financial goals and results
… AND OUR 2012 RESULTS
37
41
38
50
47
2012201120102009
25 24 23 24
2012201120102009
6
4
13
9
2012201120102009
35
39 41
48
20121 201120102009
2.25
3.50
4.50 4.50
1) Proposed by Board of Directors