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2016-10-25

Saab: Saab's Results January-September 2016

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

Statement by the President and CEO Håkan Buskhe:

Market development
Growing turmoil around the world continues to impact the defence
market and the civil security market. We are closely following market
developments and the global trend toward increased investment in
defence and security. Demand is clearly growing for cost-efficient
systems and solutions that quickly increase operational capabilities.
At the same time, technological development continues, with evermore
digitalisation and automation within the defence industry. For Saab,
with a large part of its operations in software development, this
creates opportunities to work even more innovatively and effectively.

Order bookings and sales
Order bookings in the first nine months were in line with 2015,
excluding: the Gripen contract with Brazil, the order of type A26
submarines and a mid-life upgrade for two Gotland-class submarines to
Sweden, which were received then. Order bookings for the third
quarter were mainly driven by important small and medium-sized deals.
Two examples are the orders for the latest version of the RBS 70 air
defence system and the airport group Swedavia's continued use of SAFE
as its command and control platform for the control centre at its
Swedish airports.

Order bookings amounted to MSEK 14,960 (62,599).

The order backlog at the end of the period amounted to MSEK 109,521
(105,486).

Sales in the first nine months increased by 15 percent (16 per cent
organic growth) to MSEK 19,615 (17,116). The increase was again
mainly due to: the Gripen programme, an order in 2015 for GlobalEye,
a higher level of orders in Dynamics and the development of the A26
submarine.

Operating income
Operating income amounted to MSEK 837 (553) and the operating margin
was 4.3 per cent (3.2). The operating margin strengthened in line
with our expectations.

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

Much of our focus is on execution of the major projects in the order
backlog.

In September, Boeing and Saab revealed the first two production
aircraft for the U.S. Air Force's T-X programme.

Operational cash flow amounted to MSEK 1,922 (-1,153). Cash flow was
affected in the third quarter by project activity related to advances
and milestone payments.

Unchanged outlook for 2016
The outlook for 2016 remains unchanged. The interest in Saab's
cost-efficient products and solutions means increased business
opportunities for Saab. At the same time, defence procurements are
preceded by processes, which are difficult to assess, both in terms
of timing and outcome.

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-Sep Jan-Sep Change, Q3 Q3 Full
2016 2015 % 2016 2015 Year
2015
Order bookings 14,960 62,599 -76 3,498 43,603 81,175
Order backlog 109,521 105,486 4 113,834
Sales 19,615 17,116 15 5,761 5,787 27,186
Gross income 4,432 3,956 12 1,352 1,282 6,486
Gross margin, % 22.6 23.1 23.5 22.2 23.9
EBITDA 1,537 1,259 22 462 429 2,859
EBITDA margin, % 7.8 7.4 8.0 7.4 10.5
Operating income 837 553 51 226 186 1,900
(EBIT)
Operating margin, % 4.3 3.2 3.9 3.2 7.0
Net income 536 293 83 122 36 1,402
Earnings per share 4.76 2.45 1.06 0.24 12.79
after dilution, SEK
Return on equity, 13.8 7.8 11.5
%*
Operational cash 1,922 -1,153 -2,271 653 -500
flow
Free cash flow 1,740 -1,595 -2,311 487 -726

Free cash flow per 16.28 -14.99 -21.59 4.57 -6.82
share after dilution,
SEK
* Return on equity
is measured over a
rolling 12- month
period.

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-September interim
report 2016.

Date: Tuesday, 25 October 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/161025/

Conference call:
Please, dial in using one of the numbers below:
UK: +44 2030089801
US: +1 6465025116
Sweden: +46 8 56642666

The interim report, the presentation material and the webcast will be
available on http://saabgroup.com/investor-relations.

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 25 October 2016 at
07.30 (CET).

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http://news.cision.com/saab/r/saab-s-results-january-september-2016,c210...
http://mb.cision.com/Main/183/2107737/579478.pdf
http://mb.cision.com/Public/183/2107737/8b53c9666156663f.pdf

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