Combitech presents year-end report for 2018
Combitech, the Nordic technology consultant company within the defense and security group, Saab AB, releases its annual report for 2018. The report shows strong growth in order intake and sales.
Combitech’s sales increased by 4.7 percent and amounted to SEK 2,443 million, which is the highest amount to-date. The Swedish and Finnish operations have experienced a positive development during the year. The Norwegian operations have also improved. The need for recruitment continues to be high throughout 2019.
“2018 was a very good year for Combitech. We see a growing demand from the Swedish industry and public sector, for complex digitalization projects where different actors join together in partnerships and connect digital systems and business. As a result of accelerated digitalization, high and new demands on security are being set, and the demand for Cyber Security increases, says Hans Torin, CEO of Combitech.”
KEY HIGHGLIGHTS DURING THE YEAR
- Combitech joined forces with LKAB, Epiroc, ABB and AB Volvo in a partnership to define a new global standard for sustainable mining at great depths. Combitech’s contribution includes competence and experience of linking together autonomous processes and people by means of what are known as digital ecosystems.
- Combitech took over the Norwegian Cyber Security company Watchcom. As a result of accelerated digitalization, high and new demands on security are being set, and the demand for Cyber Security increases. The acquisition strengthened Combitech further as the leader on Cyber Security in the Nordic countries.
- During the year, Combitech’s commitments in the civil and military defense, has increased. Combitech supports a large number of authorities in the reconstruction of the Swedish total defense.
- Combitech signs framework agreement with Sveriges Kommuner och Landsting (Swedish Association of Local Authorities and Regions). The agreement covers IT consulting services with a focus on digitalization and information security.
- Combitech’s leadership program for managers continued throughout the year. In addition, the popular one-week courses were organized as part of the continuous development of staff skills. In September the internal conference Combitech Conference, was organized for all employees.
- The number of employees by the end of the year was 1844.
Order intake was SEK 2,521 million, an increase by 10 percent from the past year (SEK 2,287 million). The order intake is a mix of small and mid-sized orders, often related to framework agreements, as well as large orders running for several years.
Sales revenue were SEK 2,443 million, an increase by 4.7 percent compared to 2017 (SEK 2,334 million). The growth is organic and can mainly be attributed to a positive market development and increased occupancy.
Earnings and marign
Operating earnings (EBIT) decreased by 8.2 percent to SEK 177 million (SEK 193 million). The operating margin was 7.2 percent, which is a decrease compared to 2017 (8.3 percent).
Operating cash flow
The operating cash flow increased to MSEK 185 million (MSEK 171 million).
For more information:
Åsa Scherling, chief of communication, Combitech
Tel: +46-734-18 77 98, E-mail: email@example.com
Ann-Sofi Jönsson, IR-ansvarig, Saab AB
Tel: +46-8-463 02 14, E-mail: firstname.lastname@example.org
Combitech is an independent technology consultancy within the defense and security company Saab AB. We have a Nordic base, but we also work with our clients internationally. At Combitech, we are approximately 1,850 employees who believe in the future and are passionate about creating sustainable advantages for people, companies and society. We are a partner to our customers for growth and a uniting force for innovation, security and digitalization. Technology with a purpose.