Saab 2010 Annual Report Download - page 4

SAAB 2010
IMPORTANT EVENTS IN 2010
Key financial ratios (MSEK) 2010 2009
Sales 24,434 24,647
EBITDA 2,187 2,598
EBITDA margin, % 9.0 10.5
Operating income 975 1,374
Operating margin, % 4.0 5.6
Adjusted operating margin, % 6.5 5.4
Non-recurring items -602 50
Income after financial items 776 976
Net income 454 699
Earnings per share, SEK (after dilution) 3.97 6.28
Dividend per share, SEK 3.501) 2.25
Return on equity, % 4.1 7.0
Equity/assets ratio, % 39.1 35.1
Order bookings 26,278 18,428
Order backlog at year-end 41,459 39,389
Total research and development (R&D)
expenditures 5,008 4,820
Internally financed R&D 1,203 1,194
No. of employees at year-end 12,536 13,159
Share of women, % 22.0 22.4
Academic degree, % 51.4 48.5
Sick leave2), % 2.1 2.3
1) Proposal by Board of Directors
2) Saab in Sweden
• In March, Saab received an order from the Swedish Defence
Materiel Administration (FMV) for the development of the exist-
ing Gripen eet. e order value amounted to SEK  billion, split
over four years.
• During the second quarter, the Board of Directors received
requests from shareholders to convert ,, Series A shares in
Saab AB to Series B shares. As a result of the conversion, the total
number of votes in the company was reduced from ,, to
,,. e total number of registered shares in Saab AB is
,,, of which ,, are Series A shares and ,,
are Series B shares.
• e contract between Saab and OKG Aktiebolag on the delivery
of perimeter security for the Oskarshamn nuclear power plant
was terminated during the rst half-year. Saab’s income was
charged with MSEK  in costs related to the contract.
• In September, Håkan Buskhe took oce as the new President and
CEO of Saab. He was previously President of E.ON Sweden and
CEO of E.ON Nordic. e previous President and CEO, Åke
Svensson, remains a member of Saab’s Board of Directors.
• In October, Saab received an order for an airborne surveillance
system worth more than SEK . billion. e order comprises the
delivery of the Saab  AEW&C (Airborne Early Warning &
Control) system, which comprises a Saab  aircra equipped
with the advanced ERIEYE radar system. e order also includes
ground equipment, logistics and support services.
• As a part of a long-term strategic adjustment to changing market
conditions, Saab decided in November to reorganise the opera-
tions of the Dynamics business area. Notice was served to more
than  employees. Moreover, eciency improvements were
launched in the Electronic Defence Systems business area and in
Corporate functions. Costs of MSEK  related to these meas-
ures were charged against operating income in the fourth quarter
. e measures are expected to positively aect operating
income by about MSEK  on an annual basis with a full eect
from .
• At the end of the year, Saab received an order from FMV for six
Gripen aircra intended for the Royal ai Air Force. e order
is worth about SEK . billion.
2006
-5
0
5
10
15
20
2007 2008 2009 20101)
EARNINGS AND DIVIDEND PER SHARE, SEK
Earnings after dilution
Dividend per share
250
8,000
20102009200820072006
6,000
4,000
2,000
200
150
100
50
SAAB B, 1 JANUARY 2006-31 DECEMBER 2010
1) Proposal by Board of Directors
Series B share
OMX Stockholm_PI, SEK
Thousands of shares traded, incl. off-floor trading
OUTLOOK 2011
In 2011, we estimate that sales will decline slightly compared to 2010.
We expect the operating margin to increase slightly in 2011 compared to the
adjusted operating margin in 2010.