Combitech’s interim report for January-September 2017

Combitech, the Nordic technology consultancy company within the defence and security group, Saab AB, continues to report excellent results. For the first three quarters of the year, the company has increased both sales and profit.   

Events during the third quarter:

• Atlas Copco has entered into a collaboration with Combitech concerning mining digitalisation. Combitech’s expertise from the digitalisation of aviation, defence and telecommunications was decisive when Atlas Copco choose the company as its partner.  The collaboration will among other things build upon Saab’s technical platforms and on the working methods and experience that Combitech gained in the course of digitalizing the Gripen E fighter aircraft - an effort that cut development time in half while radically reducing costs.
• Combitech is one of three companies nominated as Security Company of the Year, which will be decided at the 2017 Security Awards in Stockholm on 26 October. Combitech has named October as “security month”, with the aim of increasing the tempo of cybersecurity efforts. The Security Awards represent the culminating event.
• The number of employees now stands at 1,878 and has increased by 118 persons since the beginning of the year.

“We’ve got the wind in our sails now and our employees are doing a fantastic job for our customers. The favourable market conditions continue and we’ve noticed a high demand in most sectors. Collaboration with Atlas Copco represents an important milestone in regards to our role as digitalisation partner to industry and the interest in cyber security remains high,” says Hans Torin, CEO of Combitech.

KEY FIGURES, JANUARY-SEPTEMBER 2017:

Order intake

Order intake for the period was SEK 1,579 million, which is at about the same level as the corresponding period last year (SEK 1,593 million). Order intake remains stable.

Sales Revenues
Sales revenues amounted to SEK 1,665 million, an increase of 34 % compared to the same period in 2016. The significant increase is largely due to acquisitions that were made at the beginning of the year, as well as taking on 300 Ericsson engineers in October of last year.

Earnings and Margin
Operating profit (EBIT) increased by 45 percent to SEK 122 million (SEK 84 million in 2016). Operating margin increased to 7.3 percent (6.8 percent in 2016). The major improvement in performance is largely a result of favourable market conditions that enable high capacity.

Operating Cash Flow
Operating cash flow increased to SEK 231 million during the nine-month period, compared with SEK 84 million during the same period in 2016. The substantial increase is primarily attributable to a temporary cash injection (a one-off item) in the third quarter.

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 4630214, email: ann-sofi.jonsson@saabgroup.com

About Combitech

Combitech is a Nordic technology consulting firm with almost 1,900 employees in Sweden, Norway and Finland, with special focus on digitisation and cybersecurity. The company is an independent enterprise within the defence and security group Saab AB.

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