Combitech’s half-year report, January-June 2018

The technology consultancy company Combitech, an independent subsidiary of the defence and security company Saab AB, releases its half-year report for the period January-June 2018.

“We see a positive trend and had a very strong end to the first half of the year, which included a new partnership with LKAB, Epiroc, ABB and AB Volvo. With this positive trend, we see a continued need to recruit engineers at all our locations. At present we have almost 60 vacancies,” says Hans Torin, CEO of Combitech.

Significant events, January-June 2018

• On April 25, Combitech organised the annual digitalisation event Techxperience Day, which brought together a large number of decision-makers in the industry. This year’s theme was human interaction with technology, and the participants also highlighted the importance of continuous learning and collaboration.
• The biggest security event in the Nordic region, Paranoia, was held for the eleventh time on May 29-30, with world-leading security experts and more than 600 participants. The event was organised by Watchcom, Combitech’s Norwegian company.
• On 27 June, Combitech joined forces with LKAB, Epiroc, ABB and AB Volvo in a partnership to define a new global standard for sustainable mining at great depths. Combitech’s contribution includes competence and experience of linking together autonomous processes and people by means of what are known as digital ecosystems.
   

Key figures, January-June 2018

Order situation
Order input for the first six months was SEK 1,246 million, an increase of 8.8 percent compared with the first half of 2017 (SEK 1,145 million).

Sales revenue
Sales revenue totalled SEK 1,259 million, an increase of 4.3 percent compared with the same period in 2017 (SEK 1,208 million). This increase is primarily due to a market situation that continues to be healthy, resulting in a high utilisation rate.

Earnings and margin
The operating profit (EBIT) was SEK 100 million, a drop of 11.5 percent compared with the same period in 2017 (SEK 113 million). The operating margin was 7.9 percent, compared with 9.4 percent in 2017. This drop in earnings and margin is primarily due to a combination of cost increases and price pressure in what continues to be a strong market.

Operating cash flow
The operating cash flow was SEK 85 million, compared with SEK 147 million in the first half of 2017. Cash flow is in line with the operating profit and in line with expectations.
 

For further information

Åsa Scherling, Head of Communication, Combitech
Phone: +46 734 18 77 98, email: asa.scherling@combitech.se
Ann-Sofi Jönsson, Head of IR, Saab AB
Phone: +46 8 463 02 14, email: ann-sofi.jonsson@saabgroup.com 

About Combitech
Combitech is a Nordic technology consultancy company with almost 1,900 employees in Sweden, Norway and Finland, with a special focus on digitalisation and cyber security. The company is an independent company within the defence and security group Saab AB.

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