Combitech’s interim report for the first quarter 2019
Technology consultancy Combitech, an independent subsidiary of defense and security company Saab AB, releases its interim report for January-March 2019 today. Combitech is reporting continuous strong order intake.
“We see a continued interest from the industry, to take advantage of digitalization and innovative collaborations, may times with sustainability as a strong driving force”, says Comibtech’s CEO Hans Torin.
In the spring of 2019, a new Security Protection Legislation came in to force, which further increased the general interest and awareness of Cyber Security.
“There is an increased interest in Cyber Security, which also contributes to our strong order intake. With our positive development we have continued need to recruit engineers in all our locations”, concludes Hans Torin.
KEY HIGHGLIGHTS, JANUARY-MARCH 2019:
- Combitech signs a number of framework agreements within the public sector, covering IT-consulting services and information security. For example agreements with Stockholm Stad, Växjö Kommun and Stockholm Vatten och Avfall.
- The Finnish subsidiary Combitech Oy has signed an agreement with the Finnish Armed Forces for Life Cycle Support Services for military aviation and maritime defense, as well as for intelligence, surveillance, and command and control systems. The overall value of the procurement is € 5.1 million.
- During the quarter, Combitech has been working actively to prepare companies and businesses for the new Security Protection Act that came into force on 1 April. Among other things, seminars on the law has been arranged.
- Together with about 40 other companies from the IT consulting industries, Combitech prepared and signed a Roadmap for fossil-free Competitiveness. The roadmap sets out how the digitalization industry, together with its clients, politicians and other decision makers can enable a transition to a fossil-free Sweden.
KEY FIGURES, JANUARY-MARCH 2019:
Order intake for the period was 629 MSEK, an increase by 17 percent compared to the first quarter 2018 (536 MSEK).
Sales revenues amounted to SEK 639 MSEK, an increase of 2.6 percent compared to the corresponding period in 2018 (623 MSEK).
Earnings and Margin
Operating profit (EBIT) was 54 MSEK, a decrease of 0.5 percent compared to the corresponding period in 2019 (57 MSEK). Operating margin was 8.5 percent, compared to 9.2 percent 2018.
Operating Cash Flow
Operating cash flow increased to 12 MSEK, compared to 69 MSEK during the first quarter in 2018.
For further information
Åsa Scherling, Head of Communications, Combitech
Phone: +46 734 18 77 98, email: email@example.com
Ann-Sofi Jönsson, IR Manager, Saab AB
Phone: +46 8 463 02 14, email: firstname.lastname@example.org
Combitech is a Nordic technology consulting company with 1,800 employees in Sweden, Norway and Finland, with special focus on digitalization and cyber security. The company is an independent company within the defense and security group Saab AB. www.combitech.com