Saab 2013 Annual Report Download - page 3

Or
5per cent annually over a busi-
ness cycle.
In 2013 or
-2 per cent (-2).
Operating margin after deprecia-
tion and amortisation (EBIT) of at
least 10 per cent – is formulated
as an average over a business
cycle.
In 2013 the operating margin
after depreciation/amortisation
(EBIT) was 5.7 per cent (8.5).
Equity/assets ratio of over
30 per cent.
At year-end 2013 the equity/
assets ratio was 43.8 per cent
(39.0).
The long-term dividend objective
is to distribute 20–40 per cent of
net income to shareholders over
a business cycle.
For 2013 the Board proposes
a dividend of SEK 4.50 (4.50),
representing 65 per cent (30)
of net income.
S
Sales distribution 2013
Business areas, %
Aeronautics, 27
Dynamics, 14
EDS, 16
SDS, 23
S&S, 13
Combitech, 6
Read more on pages 2 and 45-50
Geographic markets, %
Sweden, 41
EU excluding Sweden, 17
Rest of Europe, 3
Americas, 13
Asia, 18
Africa, 4
Australia, etc., 5
Read more on page 12–13
Market segments, %
Air, 45
Land, 27
Naval, 10
Civil Security, 8
Commercial Aeronautics, 7
Other, 3
Read more on page 3
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 


also to several other signifi cant orders received during the

and integration of combat management and radar systems
on a new frigate for the Royal  ai Navy. Brazil placed orders
for the upgrade programme of the airborne surveillance sys-

the Brazilian border security programme Sisfron. Meanwhile,
market conditions are still challenging.

 
activity level primarily within the business area Dynamics,
which was compensated by growth in the business areas
Aeronautics and Combitech.







of a potential earn-out liability. Adjusted for non-recurring



Saab, in accordance with accounting standards, reclassifi ed
the value decline of the investment in the Indian company
Pipavav from equity to fi nancial net.  e value decline was
caused by a share price decline and a value decline of the In-

done.  e reclassifi cation and write-down of the investment

 

 
RESULTS 2013
was mainly attributable to timing diff erences in milestone pay-
ments in large projects, investments and acquisitions, as well as
a payment related to a legal dispute.

Key fi nancial ratios (MSEK) 2013 2012
Order bookings 49,809 20,683
Order backlog at year-end 59,870 34,151
Sales 23,750 24,010
EBITDA 2,367 3,186
EBITDA margin, % 10.0 13.3
Operating income (EBIT) 1,345 2,050
Operating margin (EBIT margin), % 5.7 8.5
Income after fi nancial items 979 2,003
Net income 742 1,560
Operating cash fl ow -1,480 -396
Earnings per share, SEK (after dilution) 6.79 14.52
Operating cash fl ow per share, SEK (after dilution) -13.56 -3.63
Dividend per share, SEK 4.5014.50
Return on equity, % 6.3 12.8
Equity/Assets ratio, % 43.8 39.0
Total research and development (R&D)
expenditures 6,543 5,946
Internally fi nanced R&D 1,332 1,798
R&D share of sales 5.6 7.5
No. of employees at year-end 14,140 13,968
Share of women, % 22 22
Academic degree, % 57 55
1) Proposed by Board of Directors
Signifi cant events after the conclusion of the year:
No signifi cant events have occurred a er the conclusion of the
year.
Outlook statement 2014:

 
ring items, is expected to be somewhat higher than the opera-
