Saab 2014 Annual Report Download - page 46

Download and view the complete annual report

Please find page 46 of the 2014 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 142

  • 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

SERVICES AND SOLUTIONS
• e Gripen combat aircra system is extremely
cost ecient with a level of performance that
meets stringent requirements and a design that
facilitates continuous upgrades.
• Unmanned/autonomous systems.
• In 2014, Aeronautics was a subcontractor to
commercial aircra manufacturers, a business
that is included in business area Industrial
Products and Services as of 2015.
Aeronautics includes the following business units:
Gripen E, Gripen C/D, Gripen Brazil and Air
Piloted Training Systems. As of 2015, Aerostructures
is part of the business area Industrial Products and
Services.
ORDERS RECEIVED
Order bookings in 2014 included several orders
from FMV for development work, support and
maintenance systems as well as project-specic
equipment within the Gripen programmes.
In October 2014, a contract was signed with the
Brazilian government on the development and
production of 36 Gripen NG. e initial order
value is estimated at SEK 39.3 billion, of which
approximately SEK 25.4 billion is attributable to
Aeronautics. e order will be nalised during the
rst half of 2015 aer certain criteria are met.
Orders received with a total value exceeding
MSEK 100 represented 94 per cent (98) of total
order bookings.
SALES, INCOME AND MARGIN
Sales for Gripen C/D operations decreased slightly
in 2014, which was oset by growth in Gripen E
Aeronautics engaged in advanced development of military and civil
aviation technology in 2014. It also conducts long-term future studies of
manned and unmanned aircraft as preparation for new systems and
further development of existing products.
ADMINISTRATION REPORT
BUSINESS AREA AERONAUTICS
Share of sales 2014
operations. Increased deliveries of aircra compo-
nents to Boeing and Airbus also had a positive
eect on sales.
e operating margin was positively aected
by lower amortisation of capitalised development
expenditures in 2014 compared to 2013, while
increased international interest in Gripen C/D
and E led to slightly higher marketing expenses.
Markets outside Sweden accounted for 27 per
cent (29) of sales.
CASH FLOW
Operational cash ow was negative due to timing
dierences in project execution and milestone
payments from customers.
EMPLOYEES
e number of employees rose slightly during
the year, mainly due to increased activity in the
development of Gripen E.
Key figures
MSEK 2014 2013
Order bookings 6,890 29,677
Order backlog 34,283 34,113
Sales 6,720 6,869
EBITDA 539 603
EBITDA margin, % 8.0 8.8
Operating income, EBIT 480 456
Operating margin, % 7.1 6.6
Operational cash flow -656 -227
No. of employees (FTE) 3,263 3,210
SEK billion
0
5
10
15
20
25
30
1413121110
Order bookings 2014
Sales 2014
SEK billion
0
1
2
3
4
5
6
7
1413121110
Operating margin 2014
%
0
1
2
3
4
5
6
7
1413121110
28%
42 – SAAB ANNUAL REPORT 2014