Saab 2010 Annual Report Download - page 63

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1 January – 31 December
MSEK Note 2010 2009
Sales 3, 4 24,434 24,647
Cost of goods sold -18,843 -18,510
Gross income 5,591 6,137
Other operating income 5 222 149
Marketing expenses -1,727 -1,776
Administrative expenses -1,235 -1,198
Research and development costs -1,820 -1,813
Other operating expenses 6 -70 -82
Share in income of associated companies 21 14 -43
Operating income 10, 11 ,12 975 1,374
Share in income of associated companies 21 26 2
Financial income 116 50
Financial expenses -341 -450
Net financial items 13 -199 -398
Income before taxes 776 976
Taxes 15 -322 -277
Net income for the year 454 699
Attributable to:
Parent Company’s shareholders 433 686
Non-controlling interest 21 13
Earnings per share before dilution, (SEK) 34 4.12 6.45
Earnings per share after dilution, (SEK) 34 3.97 6.28
CONSOLIDATED
INCOME STATEMENT
ORDERS
Order bookings for 2010 increased by 43 per cent compared to
2009 to MSEK26,278 (18,428). The order backlog at the end of
the year amounted to MSEK 41,459 (39,389).
During 2010 index and price changes had a positive effect on
order bookings of MSEK 377 (621).
In all, 86 per cent (76) of order bookings were attributable to
defence-related operations and 66 per cent (62) of order book-
ings are from customers outside Sweden.
Orders received where the order sum was larger than MSEK 100
represented 58 per cent (43) of total order bookings.
Order backlog duration :
2011: SEK 16.8 billion
2012: SEK 10.4 billion
2013: SEK 6.3 billion
2014: SEK 3.7 billion
After 2014: SEK 4.3 billion
The order backlog primarily includes :
• Gripen to Sweden and on export
• Structures and subsystems for the aircraft producers Airbus
and Boeing
• Airborne early warning systems
• Active and passive countermeasure systems
• Missile systems for air, sea and land
• Anti-tank systems
• Command and control, avionics and fire control systems
• Radar systems
• Training systems
• Civil security solutions
SALES
Sales decreased by one per cent to MSEK 24,434 (24,647).
Exchange rate effects were marginal during 2010.
Sales decreased by approximately MSEK100 in 2010 com-
pared to 2009 as an effect of lower revenue recognition for a
terminated contract in Security and Defence Solutions.
Sales in markets outside Sweden amounted to MSEK 15,211
(16,933), or 62 per cent (69) of total sales. Of sales, 83 per
cent (83) was related to the defence market.
SALES BY REGION
MSEK
Jan-Dec
2010
Jan-Dec
2009
Sweden 9,223 7,714
EU excluding
Sweden 4,737 5,675
Rest of Europe 368 280
Americas 2,199 1,918
Asia 3,937 4,568
Africa 2,833 3,477
Rest of the World 1,137 1,015
Total 24,434 24,647
SALES BY MARKET SEGMENTS
MSEK
Jan-Dec
2010
Jan-Dec
2009
Air 10,393 10,940
Land 7,611 7,239
Naval 2,278 2,181
Civil Security 1,427 1,718
Commercial
Aeronautics 1,348 1,374
Other 1,377 1,195
Total 24,434 24,647
As of 1 January 2010, Joint Operations are no longer reported
as a separate market area.
FINANCIAL INFORMATION > FINANCIAL STATEMENTS
60 SAAB ANNUAL REPORT 2010