Combitech's half-year report for January–June 2013

Despite a difficult market, Combitech is reporting strong growth and sustained profitability for the first six months of 2013. During the period a number of significant framework agreements have been signed and sales have totalled SEK 820 m.

Highlights from the first six months of 2013:

• Combitech signed a framework agreement for IT security with Svenska Spel regarding overall IT security, code audits and penetration testing. The agreement covers three areas and is valid for a period of two years with the option to extend it. Combitech has also been commissioned by Norsk Tipping, the Norwegian equivalent of Svenska Spel.

• Combitech also signed framework agreements with two large Swedish industrial companies within the vehicle sector as well as power transfer and automation.
  
  
• Sales amounted to SEK 820 million, up 22 per cent compared to the same period the preceding year. Much of the growth is organic. The development centre in Trollhättan is showing particularly good growth and currently employs 130 people. The total number of employees has increased by 43 since the beginning of the year to 1,330 employees.

"The market remains difficult and customers' decision-making processes are taking longer. This is being seen the most within industry and telecommunications. Despite this, we are maintaining good growth and profitability thanks largely to our broad product portfolio and presence in many market segments," says Combitech's CEO Marie Bredberg.

KEY FIGURES, JANUARY-JUNE 2013:

Order situation
Order intake remains stable and was SEK 749 m for the first six months, up 18 per cent compared to the previous year.

Sales income
Income from sales amounted to SEK 820 m, up 22 per cent compared to the same period in 2012. The increase in sales is predominantly organic. Sales increased both outside and within the Saab Group. The portion of external sales was 55 per cent.

Earnings and margin
Earnings (EBIT) amounted to SEK 75 m, up 25 per cent compared to the same period the preceding year. The operating margin was 9.1 per cent compared with 8.9 per cent for the first half of 2012.

Operating cash flow
The operating cash flow was SEK 149 m, an increase compared to the first half of 2012.

For further information
Charlotte Magnusson, Head of Communications, Combitech
Phone: +46 734-184 143, E-mail: charlotte.magnusson@combitech.se

Ann-Sofi Jönsson, IR Manager, Saab AB
Phone: +46 8-463 02 14, E-mail: ann-sofi.jonsson@saabgroup.com

About Combitech
Combitech is one of Sweden's largest consulting firms, combining technology, the environment and security. The company, which is an independent company within the defence and security company Saab AB, has approximately 1300 employees at 20 locations in Sweden, as well as offices in Norway. Read more at www.combitech.com