Combitech accelerates total defense efforts
The Nordic tech solution and consulting partner Combitech, which together with its customers and partners create resilient businesses and societies, releases its third quarterly report for 2022 today. The focal point of the report is further reinforcement of total defense and national society preparedness while at the same time welcoming almost 200 new coworkers to the company.
– We are intensifying our efforts of strengthening Sweden’s total defense and preparedness to meet the challenges of tomorrow. Within the public sector this is for example framework agreements within cyber security, areas that are more than ever in the spotlight due to the current challenging situation of the world. At the same time, we see a growing interest within the processing and manufacturing industries for the technology field Human Machine Interface (HMI) for different applications and the usage of serious games, says Jessica Öberg, CEO at Combitech.
Combitech maintains a great focus on employees. Competence development and retaining existing employees are important aspects of the company’s strategy, all the while intensifying recruitment efforts continue to growin the market.
Key events July – September 2022
- Combitech has signed several framework agreements with actors in the public sector within total defense. For example, Kommunalförbundet Norrvatten, Sweden’s fourth largest supplier of drinking water, and Käppalaförbundet, that cleans sewage water from member municipalities in the Stockholm region.
- The Swedish Defense Materiel Administration and Swedish Armed Forces has signed a framework agreement with Combitech covering analysis and advice regarding usability and Human Factors Integration (HFI). The agreement is an important part of their equality work and in giving all employees of the Swedish armed forces better prerequisites in solving their tasks.
- At the end of August, Combitech gathered about 80 stakeholders from the public sector, trade and industry, and other organization with societal importance, to collaborate during the Total Defense Day. At the core was a physical scenario map game, that Combitech has developed, where our society experiences disturbances and an increasing crisis.
- The Swedish Forest Agency has procured Combitech as an AI-partner, as a step in the agency’s efforts in digitalization and technique development.
- In September the WASP Industry Days 2022 took place, where Combitech has an active role. The day was filled with seminars and field studies in real world environments, with the goal of developing a research platform for future talents in the civil rescue system. This is part of Wallenberg AI, Autonomous Systems and Software Program (WASP).
Key figures January – September 2022*
*The year of comparison has been pro forma adjusted
Order intake during the period was SEK 2,386 million, an increase of 6.9 percent compared to same period last year (SEK 2,231 million).
Sales during the period amounted to SEK 2,364 million, an increase of 6.9 percent compared to the same period 2021 (SEK 2,212 million).
Profit and margin
Operating profit (EBIT) was SEK 172 million, a decrease of 12.2 percent compared to last year (SEK 196 million). The operating margin amounted to 7.3 percent, compared to 8.9 percent 2021. The lower operating profit is explained by a change in the mix of sold services and higher costs.
Operating cash flow
Operating cash flow for the period amounted to SEK -93 million, compared to SEK 187 million 2021. The decline is a result of lower EBIT and business structure changes where a small part of operations was moved within the Saab Group resulting in a negative cash flow impact for Combitech.
Number of employees
The number of employees at the end of the third quarter was 2142.
For further information please contact:
Ulrica Matsers, Communications and Marketing Manager, Combitech
Tel: +46 734-46 00 70, Email: firstname.lastname@example.org
Merton Kaplan, Head of Investor Relations, Saab AB
Tel: +46 734-18 20 71, Email: email@example.com