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Saab AB Q3 Operating Profit Rises; Adj. Sales Up 6% - Quick Facts

Saab AB (SAABF.PK) said its third quarter operating income grew 12% compared to last year's adjusted operating income and the margin improved to 6.3% from 5.9%. The company said this was primarily due to the improved sales in the quarter, partly offset by amortisation of capitalised development costs. Sales rose 32%. Adjusted for items in prior year, sales were up 6%. The company recorded negative cash flow in the third quarter, impacted by temporary inventory build-up in Dynamics and Surveillance.

For fiscal 2021, the company expects organic sales growth to be around 10 percent. EBIT margin for the full year is expected to be in line with adjusted EBIT margin of 7.4 percent in 2020. Also, Saab AB reiterated its outlook for positive operational cash flow for the full year.

Operating income was 500 million Swedish kronor compared to the adjusted operating income of 445 million kronor, a year ago. Net income to which parent company's shareholders' interest was 296 million kronor or 2.22 kronor per share compared to a loss of 380 million kronor or 2.83 kronor, a year ago.

Sales were 7.99 billion Swedish kronor compared to 6.06 billion kronor, last year. Order intake was 15.60 billion kronor, an increase of 54%.

Operational cash flow for the third quarter was negative at 1.238 billion kronor.

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