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2016-07-21

Saab: Saab's Results January-June 2016

Defence and security company Saab presents the results for
January-June 2016.

Statement by the President and CEO Håkan Buskhe:

Market development
Growing turmoil around the world is impacting the defence market. As a
consequence of constrained budgets, Saab is seeing an increase in
short-term demand for defence capabilities with cost efficient
products and solutions. This makes our efforts with efficiency and to
reduce lead times more important than ever. Saab's focus is partly to
take advantage of market opportunities and partly on the execution of
a number of major projects.

Strong growth in order bookings
During the first half-year 2016, Saab was awarded a number of new
contracts, including for airborne surveillance, ammunition for the
Carl-Gustaf weapon system, and the development and production of the
New Lightweight Torpedo system for Sweden. Order bookings amounted to
MSEK 11,462, compared to MSEK 18,996 in the previous year. An order
from the Swedish Defence Material Administration (FMV) for Type A26
submarines was booked during the first half-year 2015, as was the
overhaul and upgrade of Gotland-class submarines, together valued at
SEK 8.6 billion. The order backlog at the end of the period was MSEK
111,593.

Gripen E offers increased defence capabilities
The Gripen E was rolled out on May 18. Users of Gripen E can operate
longer in the air, improved sensors and electronic warfare will
provide better intelligence on the enemy, and it will carry more and
better weapons. At the same time, Gripen E is highly cost-efficient.
Deliveries of the next-generation Gripen to Sweden and Brazil will
begin in 2019.

Sales growth
Sales amounted to MSEK 13,854 in the first half-year, an increase of
22 per cent.

All business areas improved their sales during the period. The
increase was mainly due to the Gripen programme in the business area
Aeronautics, a 2015 order for a new version of an airborne
surveillance system, GlobalEye, in the business areas Surveillance
and Support and Services, and the development of the A26 submarine in
the business unit Saab Kockums.

Operating income amounted to MSEK 611 (367) in the first half-year and
the operating margin was 4.4 per cent (3.2). All business areas but
Industrial Products and Services and the business unit Saab Kockums
improved their operating margins. Business area Dynamics saw the
biggest improvement in operating income thanks to increased
deliveries and a change in the product mix.

Operating income was again affected by investments in the development
of a new jet trainer together with Boeing (the T-X program), as well
as by several major projects in early stages where they normally
generate lower profit.

Strong cash flow
Operational cash flow amounted to MSEK 4,193 (-1,806) in the first
half-year. Cash flow strengthened in several areas. The increase is
mainly related to large payments within the framework of orders for
Gripen and an order for GlobalEye.

Net debt amounted to MSEK 405 at the end of the period, compared to
MSEK 3,217 at the end of 2015.

Unchanged outlook statement 2016:

· In 2016, we estimate sales to be in line with Saab's long-term
financial goal: annual organic sales growth of 5 per cent.

· The operating margin 2016, excluding material non-recurring
items, is expected to be in line with 2015.

Financial highlights

MSEK Jan-Jun Jan Change, Q2 Q2 Full
2016 -Jun % 2016 2015 Year
2015 2015
Order bookings 11,462 18,996 -40 6,848 14,196 81,175
Order backlog 111,593 67,853 64 113,834
Sales 13,854 11,329 22 7,064 5,940 27,186
Gross income 3,080 2,674 15 1,569 1,358 6,486
Gross margin, % 22.2 23.6 22.2 22.9 23.9
EBITDA 1,075 830 30 551 392 2,859
EBITDA margin, % 7.8 7.3 7.8 6.6 10.5
Operating income (EBIT) 611 367 66 317 157 1,900
Operating margin, % 4.4 3.2 4.5 2.6 7.0
Net income 414 257 61 191 167 1,402
Earnings per share 3.71 2.21 1.71 1.42 12.79
after dilution, SEK
Return on equity, % 13.0 8.6 11.5
Operational cash flow 4,193 -1,806 1,137 -1,001 -500
Free cash flow 4,051 -2,082 1,096 -1,141 -726
Free cash flow per 37.91 -19.57 10.25 -10.72 -6.82
share after dilution,
SEK

For more information and explanations regarding the usage of these key
ratios, please see
http://saabgroup.com/investor-relations/financial-data/key-ratios/

.

Press and analyst meeting

Saab invites to a press and analyst meeting, where CEO Håkan Buskhe
and CFO Magnus Örnberg present the Saab January-June interim report
2015.

Date: Thursday, 21 July at 10:00 (CET)
Address: Grand Hôtel, Blasieholmshamnen 8, Stockholm, Sweden
Venue: New York

You are welcome to participate on site at Grand Hôtel, watch the live
webcast or dial in to the conference call. It is possible to post
questions also over the web and conference call.

Live webcast:
http://saab-interimreport.creo.se/160721

Conference call:
Please, dial in using one of the numbers below.
UK: +44 2030089813
US: +1 8557532235
SE: +46 856642700

The interim report, the presentation material and the webcast will be
available on http://www.saabgroup.com/en/InvestorRelations.

R.S.V.P
E-mail: marie.bergstrom@saabgroup.com
Tel: +46 8 463 02 45

For further information, please contact:
Saab Press Centre,
+46 (0)734 180 018,
presscentre@saabgroup.com

Saab Investor Relations, Ann-Sofi Jönsson, +46 (0) 734 187 214

www.saabgroup.com
www.saabgroup.com/YouTube
Follow us on Twitter: @saab

Saab serves the global market with world-leading products, services
and solutions within military defence and civil security. Saab has
operations and employees on all continents around the world. Through
innovative, collaborative and pragmatic thinking, Saab develops,
adopts and improves new technology to meet customers' changing needs.

This information is such that Saab AB is obliged to make public
pursuant to the EU Market Abuse Regulation and the Securities Markets
Act. The information was submitted for publication, through the
agency of the contact person set out above, on 17 July 2015 at 07.30
(CET).

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http://news.cision.com/saab/r/saab-s-results-january-june-2016,c2049248
http://mb.cision.com/Main/183/2049248/542435.pdf
http://mb.cision.com/Public/183/2049248/a662c75ab326ba77.pdf

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