Saab 2010 Annual Report Download - page 35

Saab AB (publ.), corporate identity no. -, with its regis-
tered address in Linköping, Sweden. e address of the company’s
head oce is Kungsbron , Stockholm, with the mailing address Box
 , SE-  Stockholm, Sweden, and the telephone number
+    .
Saab has been listed on NASDAQ OMX Stockholm since 
and on the Large Cap list since October . e principal owner is
Investor AB, with  per cent of the shares, corresponding to . per
cent of the votes.
e total number of shares in the company is ,,, distri-
buted between ,, Series A shares with ten votes each and
,, Series B shares with the one vote. At year-end, a total of
,, Series B shares had been repurchased to guarantee the
Group’s share matching plan. e repurchased shares are held as
treasury shares.
In accordance with the Swedish Annual Accounts Act, Saab has
prepared a corporate governance report separate from the annual
report. It can be found in this document on pages –. e cor-
porate governance report contains the Board of Directors’ report on
internal control of nancial reporting, which includes information
for both the Parent Company and the Group. See pages – in
this document.
OPERATIONS
One of the world’s leading high technology companies, Saab oers
products, solutions and services for military defence and civil secu-
rity. In , we had customers in over  countries, while research
and development are principally carried out in Sweden. We are pri-
marily active in Europe, South Africa, Australia and the US. Since
 January , we are organised in ve business areas: Aeronautics,
Dynamics, Electronic Defence Systems, Security and Defence Solu-
tions, and Support and Services.
In addition to the business areas, Corporate comprises Group
sta and departments and secondary operations. It also includes
Combitech and the leasing eet of Saab  and Saab  aircra.
LONG-TERM FINANCIAL OBJECTIVES
In , an analysis was made of Saab’s long-term goals. In light of
the strategic priorities, the long-term nancial goals communicated
externally were revised slightly. e long-term nancial goals now
consist of goals for organic sales growth, operating margin aer de-
preciation and amortisation (EBIT) and the equity/assets ratio.
e previous goals for the operating margin before depreciation/
amortisation (EBITDA) and the return on equity will not be
reported as of .
LONG-TERM FINANCIAL GOAL PERFORMANCE IN 2010
Growth
Goal: is goal was previously the same as in the new long-term goal
formulation. Our organic sales growth will average  per cent per
year over a business cycle.
Result : In , organic sales growth was - per cent ().
Operating margin
Goal: We had two margin goals in , both formulated as an aver-
age over a business cycle. e goal for operating margin aer depre-
ciation/amortisation was at least  per cent and it remains the same
in the new long-term goal formulation. e goal for the operating
margin before depreciation/amortisation is at least  per cent.
Result : e operating margin aer depreciation/amortisa-
tion (EBIT) in  was . per cent (.). Adjusted for non-recur-
ring items, the operating margin was . per cent (.). e operating
margin before depreciation/amortisation (EBITDA) was .
per cent (.).
Return on equity
e ROI goal in  was an average  per cent. In , we reached a
return of . per cent (.).
Equity/assets ratio
Our goal in : was an equity/assets ratio exceeding  per cent,
which still remains in the new goal formulation. At year-end ,
the equity/assets ratio was . per cent (.).
Comment on the 2010 results
Saab’s order bookings increased in  by  per cent til MSEK
, (,). e increase was due in large part to several orders
for the further development of the Gripen system received from
FMV and a major order for an airborne surveillance system. Interna-
tional customers accounted for  per cent ()of order bookings.
FINANCIAL REVIEW 2010
32 SAAB ANNUAL REPORT 2010
ADMINISTRATION REPORT > FINANCIAL REVIEW 2010