Combitech’s interim report for January-September 2015

Combitech, the Nordic technology consultancy company and an independent subsidiary within the defence and security group Saab AB, increased its sales and saw its earnings improve over the first nine months of the year.

Events during the third quarter:

Combitech is a leading Cyber Security consultant in the Nordic region, with 120 security specialists, and its Cyber Security business is developing in a positive manner, as demand for security services within the industry increases. Combitech’s acquisition of SecureCom earlier this year has also resulted in new deals within secure payment services. 

The fourth generation of Combitech’s aftermarket solution UpTime has been launched. UpTime is a tool for producing, processing, distributing and publishing product information. The new version focuses on user-friendliness and flexibility. 
Combitech is ranked 11th in Ny Teknik’s R&D league, with 1,000 employees working in research and development in Sweden.

The number of employees was 1,466, which is on a par with the year-end.
“Profitability continues to improve, particularly in the Swedish operation. This is the result of increased utilisation rate, as well as efficiencies in the operation that contributed to reduced costs. The situation in Norway remains tough, but we have taken measures to safeguard our long-term profitability,” says Hans Torin, Acting CEO of Combitech.

KEY FIGURES, JANUARY-SEPTEMBER 2015

Order situation

The order intake during the period was SEK 1,199 million, an increase of 9.9 per cent compared with the same period in 2014 (SEK 1,091 million). The order intake remains stable.

Sales revenues

Sales revenues were SEK 1,203 million, indicating a slight increase compared with the same period in 2014. Sales increased both outside and within the Saab Group. The portion of sales outside the Saab Group was 60 per cent.

Earnings and margin

The operating profit (EBIT) increased by 17 per cent to SEK 68 million (SEK 58 million in 2014). The operating margin was 5.7 per cent (4.9 per cent in 2014). The improved operating margin is chiefly due to an increased utilisation rate in the Swedish operation, as well as reduced costs.

Operating cash flow

The operating cash flow increased to SEK 71 million during the nine-month period, compared with SEK 32 million during the same period in 2014. This increase is predominantly due to improved earnings.

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, e-mail: ann-sofi.jonsson@saabgroup.com

About Combitech
Combitech is a Nordic technology consultancy company with 1,470 employees in Sweden, Norway and Finland. It is an independent company within the defence and security group Saab AB. For more information, please visit www.combitech.se.